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We’re always on the look out to increase the money in our bank accounts. Whether that’s picking up extra shifts at work, selling items we no longer need or watching every penny. But how can you make your savings grow a little quicker? You might be saving for a car, a holiday or that elusive deposit for your first home, whatever your reasons for saving here you’ll find 4 simple and super quick ways you can watch your savings grow.
Investing what you already have
If you already have some savings aside, then consider finding a way that they can work as hard as you do. A relatively simple way of achieving this is by delving into the world of ISA’s. Using modern tools like the Wealthify investment app makes it even easier to invest as little or as much as you like into Junior ISAs for the kids, Investment ISAs or a General Investment Account. You can choose how much or how little you want to invest at a level that works for you, and you can withdraw if you need to without penalty. Click the link to find out more.
Get the best deal on your utilities
The best way to watch your savings grow is to keep adding to them! A simple way to achieve this is by saving as much money as you can on your utility bills. Do you know what tariff you’re on? When was the last time you switched? If you’ve never switched utility providers before or gone online and compared them, then you could be missing out on a lot of savings. Head online and compare various utility providers through a comparison website. When you find a cheaper tariff, make the switch and your new utility company will do all the hard work for you. It’s as simple as that!
Switch to a budget supermarket
I think it’s safe to say that the days of stigma attached to budget supermarkets are long gone, and you’ll find people from all walks of life eagerly searching for a bargain in the UKs favourite budget supermarkets. Well, that’s exactly what you should be doing too! Step away from the big name brands and enjoy some own brands instead – you and the kids won’t be able to tell the difference anyway. You’ll be amazed at how much you’re saving each week on your groceries; a sure fire way to watch your savings blossom.
Cut back on the takeaway habit
Who doesn’t love a takeaway at the end of a hectic week? You’ve earnt it right? While all this might be true, it doesn’t fare well for your savings. With a weekly family takeaway costing as much as £40 you could be saving £160 a month if you eat what’s in the freezer instead. Alternatively, you can try recreating your favourite takeaways at home, or try a supermarket version for a fraction of the price. Any money you save can go straight into your saving pot!
This is a collaborative post.