Tips to help you save

Great ways to grow your savings

Start saving little and often

Setting up just one standing order on the day you get paid to go into a savings account can help you grow your savings.

Put your small change aside

Instead of spending your change, save it. Go traditional and save your small change in a pot. Or, if you sent £1 a day to a savings account, you'd have £365 at the end of the year.

You can turn on Save the Change® to save your change automatically.

Re-think your gift list

You could reduce the stress and expense of events like Christmas by reviewing your gift list. Perhaps try a gift exchange, give to charity or agree to save what you would have spent on each other.

Spend 30 minutes on your budget

Review your incomings and outgoings. Half an hour could be all you need to sort out exactly what is coming into and going out of your bank account each month.

Pay it off, then pay it in

If you have any borrowing that is coming to an end, you could continue to send the same payment into a monthly savings pot. You'll be paying yourself each month, instead of someone else.

Plan your meals and fight food waste

It sounds simple, but when you know exactly what ingredients you need for the week ahead you're on the right track to both reduce food waste and save money.

Ideas to help you cut your spending

Save on SIM-only

If your phone is included in your contract, you've already paid it off when the contract ends. So, switching to a SIM-only contract at that point could save you money.

Make use of a family package

If there are multiple people in your household with music streaming subscriptions, you could make use of a family package. Sign up together and split the cost.

Compare deals and haggle

Comparing deals on your household bills and switching could save you money. Use a price comparison website or contact your existing provider - and don't be afraid to haggle.

Use cashback and loyalty schemes

Loyalty schemes and cashback offers are easy ways to save as you spend. Use cashback to get money back on purchases, or a loyalty card that accrues points as you spend.

Try a savings challenge

The £10 challenge

How easy is it to spend £10? Set up a standing order to your savings account for £10 a week and you'll have £520 after a year.

Change a habit to save more

A takeaway and a bottle of wine can easily come in at £20 a week. But swap out the habit and send it into a savings account, and you'll have made £1,040 in one year.

The 24 hour rule

Dedicate a 24-hour, no-spend rule on purchases. Instead of clicking 'Buy now', wait a day and see if you still want to go ahead. You might find you save on unnecessary splurges.

Try a no-spend week

Try a day a week with no spending at all. This can be as simple as staying off your devices and reigning in on those online purchases. Or plan out activities and treats that are completely free.

Focus on your goals

You could be saving for a house deposit or a house plant, but when you have a goal in sight it's easier to get into a saving mindset.

With Bank of Scotland you can separate your goals into different accounts and rename your accounts to help keep track of them.

Limit your spending

A realistic limit can help you stay aware of your spending. So set yourself a spending limit - per day, per week or per month - and stick to it.

The 2 golden rules

Create an emergency cash pot

Aim to save the equivalent of three months' salary and put it aside for emergencies and rainy days.

The 50-30-20 rule

Split your monthly pay. Allocate 50% to your essentials, like bills, mortgage or rent. Send 30% to a savings account, and the final 20% is for the fun stuff.

Want face-to-face help?

You can book a personal review in branch to check you're making the most of your money.

The prize draw for savers

With more than 1,600 prizes in every monthly draw, saving could reward you with more than just interest.