Saving money can often be hard, especially if you find that you are living paycheck-to-paycheck and have no money left over at the end of the month. But saving is important, especially if you are a first-time buyer looking to get your foot on the property ladder as it is now almost an impossibility to get accepted for a mortgage without a hefty deposit.

Below offer you some simple tips showing you how to get good at saving, which could also save you from needing debt advice in the future:

1: Note Your Spending Habits – If you think you should have money left over to save at the end of each month but are unsure of where all your money goes, then it is important that you learn exactly how much you are spending on a monthly basis and where. Document every single item that you pay for, and don’t forget to include items which you pay for by direct debit or that you pay for with cash. This should give you a good idea of where you could cut back on your spending.


2: Save the Change – Looking for an easy way to get good at saving? Learn to start saving the change. For example, you might want to round everything up to the nearest pound when you pay for an item in cash and save this change, or do a weekly emptying of your purse/wallet and save any copper or silver coins. Although this might not seem a lot to be saving, remember the old saying: Take care of the pennies and the pounds will look after themselves…

3: Save Automatically – Make saving part of your budget and set up a standing order to automatically transfer a percentage of your wage into a savings account. The fact that this money will not have been in your bank account for long should prevent you from spending the money and you won’t have to remember to make the transfer yourself.

4: Be realistic – Maybe it actually is impossible to save because you have built up debt over the years which is becoming a struggle to repay. If this is the case then you might want to postpone the idea of saving and concentrate more on repaying your debts.