You can save up to £5k this year with experts urging people to look at their bank account type
Regardless of what is happening, everyone wants to save money however the need to do so is even stronger during the current cost of living crisis.
Think about why you're saving and what type of account you have When it comes to saving up however, it's important that you consider what the money will be going towards. She adds: "If it is for a first-time house deposit or retirement, then opening a Lifetime ISA is a good option to consider. This is because if your goal is to have £5000 put away each year, you actually only need to save £4000 of your own money.
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Lucinda also provided extra money-saving tips that can help contribute to a savings goal of £5000 a year. Read your receipts "An alternative way to save little and often is to keep your supermarket receipts and make a note of your “savings”, usually printed at the bottom of the receipt. These small multibuys or reduced item savings may only be a few pounds at the time, but if you hold yourself accountable and actually deposit these savings into an account every time you shop, the numbers will eventually add up.
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