Three easy steps to grow your savings mindset

Grow Your Savings Mindset For A Better Tomorrow

It's the final video in the UCC series on financial literacy, and this time it's all about how you can plan for a better tomorrow by controlling what you spend today. 

The 2024 PwC Voice of Consumer Survey revealed that 41% of people are planning to spend less in the coming year, and 28% are planning to travel less. 

Saving makes sense for anyone who wants to plan for the future, even if it's for something as simple as a family holiday or some new furniture for your home. 

If you're finding it hard to put money away from week to week, check out this article and the video to help get you started.

Video #5 Savings

"If You Can Afford Takeout Coffee, You Can Afford To Save"

It's a simple idea but it makes shifting your mindset to saving incredibly easy. That's not to say you won't feel some 'withdrawal' pangs when you skip that coffee or hold off on that online shopping spree, but there are plenty of things you can do to back up your good intentions and make sure you stay on track. 

The Three Steps To Effortless Saving

1. Identify where you can make savings. Awareness is everything, even if it feels a little painful at first.

2. Set up a savings account so this money is set apart from your regular spending account.

3. Use a savings app that allows you to set up goals. Having something to aim for makes saving far easier and, dare we say it, even kind of fun. 

Set It And Forget It

Savings apps can also track your spending and automate weekly or monthly transfers to your savings account so you can 'set it and forget it.'

If you're not used to saving, you'll be surprised how quickly it all adds up. Getting started is as easy as taking a few minutes to go through your spending and deciding what things you really need and what things you really don't.

Take the time today, and your future self will thank you when it's time to make that big purchase you've had your eye on!

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