Improve your relationship with money

Some of you will already have a great relationship with your money but could it be even better?

There’s no reason not to nurture your finances. By taking the time to sit down and assess them, you could have peace of mind, reach your goal and enjoy the things you want to do.

Look at your spending trends

To strengthen your savings, it can be helpful to firstly identify any areas for potential improvements, to make sure your savings are as healthy as possible.

You can also go through your spending by checking your transaction history to find out exactly where your money is being spent.

• Overspending on groceries? You can check the cheapest supermarkets on which.co.uk but why not try doing a comparison of your regular purchases? Perhaps do some online shopping using your local supermarkets and add items to your cart so you can see their total, before you decide. If it’s items you buy frequently as part of your weekly shop then the savings could soon pile up!
• Overspending on bills? Set dates in your calendar as a reminder for when any deals or penalty periods run out, for example once a new customer offer runs out it might be cheaper for you to go elsewhere. There’s no need to get hit with penalties for forgetting to pay your bills on time either, just set up a standing order and give yourself fewer plates to spin whilst trying to keep on top of your finances.
• Overspending on non-essentials? Don’t forget to look for discount codes, you could also try signing up to a company’s mailing list if you haven’t already, as new customers often receive discounts. Many companies email offers around your birthday too so you might want to hold off on any spending if your birthday is coming up. 

And don’t let bad habits break the bank. As well as looking at where you’re spending your money, it might also help to see if there’s a pattern of when you’re spending. Is it when you’re at work, going out for lunch because it’s convenient?

Is it on the weekend when you’re relaxing and not being mindful about your spending? Is it when you’re buying gifts because you’ve left it to the last minute? These are all potential saving habits that you could watch out for to help you reach your goal quicker.

Set an achievable goal

Once you’ve tidied up your finances to optimise the amount you can save, you might want to set yourself a goal. Saving won’t feel like a chore when you’re working towards something you really want.

You could pick a smaller goal like spending money for a trip, aim big with a long-term goal like buying a car, or even set up an emergency fund.

Get to where you want to go

So, you’ve saved a little extra money here and there, and you’ve got a goal in mind… but how do you reach it?

If you want to stretch your savings even further, an ISA could be a great way to get more out of your money with tax-free interest on your savings. You can take advantage of up to £20,000 in the 2025/26 allowance.

And you could split the allowance across our ISAs, for example £10,000 in an Easy Access Cash ISA and £10,000 in a Fixed Rate Cash ISA. Depending on your goal, it could be worth considering whether annual or monthly interest would be more beneficial.

Take a look at our range of ISAs or find out more information on our ISA hub.

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