Log in
Register Why register?
Learn about a range of savings options in this video and consider the benefits of saving.
You can also find out about different savings options in the fact file.
Saving is about building up your money, piece by piece. And it doesn't take much to get you started…
Some people spend their money as soon as they have it, on clothes, computer games, music…on cappuccino!
But there may be things you'd like to do in the future; travel, have a place of your own, go to uni…and the only way, is to start saving.
There are lots of different ways to save; savings accounts, ISAs, investments…lots of ways to make your money work for you.
One of the best ways to start is to get into the habit of putting money regularly into a savings account.
There is a wide range of savings accounts to choose from. One popular option is to put money into a Cash Individual savings account, or Cash ISA, as they are commonly known.
Another possibility is to invest your money by buying stocks and shares; if the company you've invested in does well, you could make money, but also their value and any income from them could go down, and you would make a loss on your investment. This method of saving is more risky, and there are no guarantees.
You might find yourself in a position to buy a property, and this is yet another way to invest money. The value tends to go up over time, so whether you're buying somewhere to live or somewhere to rent out to somebody else, buying a house or a flat can be a good way to invest long term. There is a risk, of course, that prices could fall, and you might have to spend money maintaining the property.
Many people choose to combine savings and investments. Whatever you decide to do, it's important to shop around for the best rates, understand the risks involved in each option, and make your choice depending on your own situation.
Saving up takes a bit of time, whether its saving for something you want to do, something you want to buy, or somewhere you want to go. One thing is for sure, you can't start saving soon enough.