Are you saving for something special?
I’ve just started saving for our holiday next year and as well as saving larger amounts when I can afford it (not often at the minute), I’m also saving smaller amounts as often as I can.
You might think that it’s not worth saving pennies but it really is, you’ll see your savings increase lots quicker by doing it. I guarantee it
1. Save all the small change you get. We save all of our coppers and 5p coins in various pots and vases around the house. When they’re all full we take them along to our supermarket and change it in one of those machines. I know they charge about 8p per pound but it means you don’t have to sort the money out or have an exact amount plus I hate the smell of money on my hands.
2. Open a separate online savings account that you can transfer money too easily. Every time you check your balance online, transfer the odd number of pence to your savings account. For example, if your balance is £668.76, transfer the 76p to your savings account. You’ll be surprised how quick this can help your savings balance increase doing this – especially if you check your bank balance often.
3. If you manage to spend less than your weekly shopping budget or you manage to get a bargain on something you were planning to buy anyway, transfer the amount you saved in to your savings account.
Do you have any other ways to save pennies that I could use?