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A savings expert has shared three \u201csimple\u201d ways people can save up to \u00a32,250 in the space of a year.<\/p>\n
Tom Ellmers, head of savings at\u00a0Tandem\u00a0said: \u201cThe \u2018perfect\u2019 saver doesn\u2019t exist, and this concept is one of the biggest ideas that holds us back when unlocking our financial goals.<\/p>\n
\u201cWe all have financial commitments, but also commitments when it comes to looking after ourselves. From meeting up with friends over a coffee, treating yourself to something you really want, or travelling the world, we all make these purchases to feel a bit happier through a release of dopamine, and ultimately that\u2019s where the \u2018retail therapy\u2019 theory comes from.<\/p>\n
\u201cThe key to success in becoming a saver is to find the habits that work for you, and starting small and savvy can help lead to those bigger saving goals.<\/p>\n
With the cost-of-living crisis impacting millions across the country, Mr Ellmers said: “These simple saving\u00a0methods can be a great way to kickstart your financial goals, in an attainable way.\u201d<\/p>\n
READ MORE: <\/strong> Savings alert as little-known scheme can boost nest egg by \u00a31,200<\/strong><\/p>\n According to Mr Ellmers, the 1p challenge is a \u201csuper easy\u201d way to save \u00a3650 in a year.<\/p>\n He explained: \u201cOn day one, you\u2019d save one penny. On day two, you\u2019d save two pennies. On day three, and so on. Starting off slow and small is a great way to save as you are less likely to feel the impact when you still want to spend on the things you love, and it\u2019s a great way to get into the habit of putting money away every day.\u201d<\/p>\n Digital-only accounts can be an easy way to transfer money from a current account into a separate savings account and often offer higher interest rates than high street banks.<\/p>\n Mr Ellmers added: \u201cWhen transferring from your current account to your savings account, it can be a great way to get you checking your banking app daily and becoming more familiar with your bank balance.\u201d<\/p>\n Don’t miss… <\/strong> Cashback\u00a0sites give users the opportunity to earn discounts or rewards on purchases when shopping through their platforms. People can rack up hundreds of pounds worth of savings when using these correctly.<\/p>\n Mr Ellmers said: \u201cThere are many apps and websites that offer cashback at top websites, such as TopCashback and Quidco. These give you money back for your transactions if you use the link they provide you. Additionally, coupon sites scrape the internet to find active offers to lower your basket price – giving you an even better saving. Check to see if you can get a lower price before you click checkout.\u201d<\/p>\n According to users from MoneySavingExpert’s forums, people have managed to save\u00a0around \u00a3300\u00a0when using cashback on their everyday purchases.<\/p>\n We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info<\/p>\n Weekends can be really expensive, so scheduling a few spend-free days per month can be a beneficial move to bolster finances.<\/p>\n Mr Ellmers said: \u201cSetting yourself a \u2018no spend weekend\u2019 every month means you can opt for free activities instead.<\/p>\n \u201cThese could range from countryside walks, movie nights at home, or even the range of free museums and attractions across the country. You can then put the cash you would have spent into your savings without having to sacrifice family time.\u201d<\/p>\n With 52 weekends in a year, Mr Ellmers suggested having a ‘no spend’ weekend every two weeks and, instead, saving \u00a350 per weekend. By the end of the year, people can accumulate up to \u00a31,300.<\/p>\n![](\"https:\/\/cdn.images.express.co.uk\/img\/dynamic\/23\/590x\/secondary\/1P-SAVINGS-CHALLENGE-5001911.jpg?r=1696846937524\")
<\/p>\nThe 1p savings challenge<\/strong><\/h3>\n
A quarter of Brits don’t see the point in saving if they have just a few pounds[ANALYSIS] <\/strong>
Martin Lewis clarifies \u2018likely\u2019 savings rescue attempt as Metro’s shares plunge[EXPLAINED] <\/strong>
Mortgage-free couple \u2018saving so much money\u2019 after moving into boat[INSIGHT] <\/strong><\/p>\nCheck for cashback offerings<\/strong><\/h3>\n
Try \u2018no spend\u2019 weekends<\/strong><\/h3>\n