Topics like “How to save money effortlessly” sound like a dream—saving is one of those things we all know we should do, but it’s easier said than done. Between rent/mortgage, bills, the weekly food shop, and that cheeky takeaway on a Friday night, saving often takes a back seat. But what if you could make saving as effortless as putting on the kettle? Enter automation.
Let me show you how you can set up your savings to run on autopilot to build your financial future without thinking about it. Sound good? Let’s crack on.
Why Automate Your Savings?
Forming new habits requires willpower. Willpower can flake on us when there’s a Zara sale, or your mates are planning a weekend away. Automation takes the decision out of your hands. It’s like having a little savings assistant who moves your money for you before you even notice it’s there.
Why it works:
- It’s consistent: You’ll save the same amount every time without fail.
- It’s hassle-free: Once it’s set up, you’re sorted.
- It keeps you from spending: If the money’s gone straight into savings, it’s not sitting in your account, tempting you.
Step 1: Figure Out Your Savings Goals
First things first—what are you saving for? A rainy-day fund? A summer holiday to Ibiza? A house deposit? Being clear about your goals gives you focus and makes the whole saving thing feel more rewarding.
Common goals to think about:
- Emergency fund: You never know when the boiler will pack in or the car will need a new tyre. Aim for 3–6 months of essential expenses stashed away.
- Big purchases: A new laptop, a wedding, or even Christmas shopping.
- Retirement savings: It’s never too early to start thinking about your pension.
- Debt repayment: Clearing credit cards or loans should be part of your plan, too.
Jot these down and prioritise them. You don’t have to save for everything at once, but knowing what you’re working towards makes it easier to stick with it.
Step 2: Pay Yourself First
This is the golden rule of saving. Before you spend a penny on anything else, take some money off the top and pop it into savings. Think of it like this: you’re treating future you to financial security.
How to do it:
- Decide on a percentage of your income to save. Start small if you need to—5% or even £10 per payday is better than nothing.
- Schedule it to happen as soon as your wages land in your account.
By paying yourself first, you’re prioritising what really matters instead of leaving saving as an afterthought.
Step 3: Automate Your Savings
Most banks in the UK let you set up automatic transfers between accounts, and it’s ridiculously easy.
Here’s how to get started:
- Set Up a Separate Savings Account: Keep it away from your main spending account so you’re less tempted to dip into it. A high-interest savings account is ideal if you want your money to grow a bit faster.
- Schedule a Regular Transfer: Log into your online banking and arrange for a set amount to be moved into your savings every payday. Choose an amount you can commit to consistently.
- Stick to It: Once it’s set up, let it do its thing.
Why it works: Automating your savings removes the need for discipline. The money’s gone before you even realise you had it, and you’ll quickly get used to living on what’s left, just like our tax and NI.
Step 4: Use Savings Tools and Apps
If you want to take it up a notch, there are some brilliant apps out there that can help you save without lifting a finger.
Some popular ones in the UK:
- Monzo and Starling Bank offer features to round up your spending and save the spare change. For example, buying a coffee for £2.70 rounds up to £3 and moves the extra 30p into your savings. Over time, these small amounts add up to a significant sum, helping you save money without feeling the pinch.
- Chip: This clever app automatically calculates how much you can save and moves it into a savings account.
- Plum: Acts like a financial assistant, analysing your spending and saving little bits for you here and there.
- Snoop: Tracks spending patterns and automates savings while providing insights into your finances.
- Moneybox: Focuses on investing and lets you save your round-ups into portfolios of stocks and shares ISAs.
These tools make saving seamless; you won’t notice it happening.
Step 5: Keep an Eye on Things
Automation doesn’t mean you should forget about your savings entirely. Check-in now and then to make sure you’re on track with your goals.
Things to review:
- Are you saving enough? If you get a pay rise, bump up your savings too.
- Is your savings account offering a decent interest rate? If not, shop around for a better one.
- Are your goals still the same? Life changes, so your savings plan might need to as well.
Overcoming Common Hurdles
“I don’t have enough to save.”
Start small. Even £10 a month adds up over time. The key is building the habit first.
“I keep dipping into my savings.”
This is a big issue that afflicts many. Use a separate account that’s harder to access, or try a fixed-term savings account if you don’t need the money immediately.
“I’m overwhelmed with other expenses.”
A budget can help. List all your costs—cover essentials first and make sure you’re not overpaying. Shop around for better deals. Then, check your discretionary spending (non-essentials like treats or extras). What can you reduce to free up money for saving? Finally, ask yourself if your savings goal is realistic. Starting small and building up is the key to making saving a lasting habit.
Final Thoughts
Automating your savings is simple, effective, and takes the stress out of managing your money. With a few tweaks to your accounts and a bit of planning, you’ll be saving like a pro in no time. Start small, stay consistent, and let automation do the heavy lifting. Future you will thank you for it. Now, go on—give it a try. You’ve got this!
Want to dive deeper into saving? Check out my blog post about squirrels—these furry little savers have plenty to teach us humans. For daily tips and inspiration, follow me on Instagram. Let’s make saving simple and fun together!
