Top Savings Habits to Start Today!

Top Savings Habits to Start Today!

At First Tech Credit Union, we believe that building a healthy savings fund is about the small, consistent habits that add up over time. Whether you’re saving for a rainy day, a family holiday or that something special, getting started is the most important step.

To help you on your journey, we’ve put together our top tips for developing rock-solid savings habits.

1) Pay Yourself First

This is the golden rule of saving! Instead of waiting to see what’s left at the end of the month, treat your savings like an essential bill.  Set up an automatic, recurring transfer to move a fixed amount into your savings account as soon as you get paid. This way, you’re prioritising your future self before you have a chance to spend it.

2) Set a Clear Goal

Saving feels much more rewarding when you have a target in mind. Are you saving for a new car? A deposit? Christmas? Give your savings fund a name. Visualising what you’re working towards makes it easier to stay motivated. Say no to unnecessary spending and watch out for lifestyle creep, the temptation to increase your discretionary spending in line with any additional income you earn or receive.

3) Start Small but Start Now

Even saving a small amount can build up over time and help you escape from living from payday to payday. For example, saving €20 a week adds up to over €1000 a year! The key is consistency. The sooner you start, the more you’ll see the benefits down the road.

4) Embrace Technology

There are many budgeting apps that can help you track your spending and identify areas where you can cut back and save more. Popular ones include PocketGuard, YNAB (You Need a Budget), Goodbudget and Monarch Money. Others include Rocket Money which helps you find and cancel unwanted subscriptions and Honeydue which is designed specifically to help couples budget together.

5) Do a ‘Financial Health Check’

Once every few months, take 5 minutes to look over your direct debits and standing orders. Are you still using that subscription service? Watch out for auto renewals for services you no longer use and make sure to cancel them in time. Shop around for better deals with utility providers and redirect any money you save into your savings account. You may be surprised how much you can find!

6) Make it a Challenge

Turn saving into a game. Try the ’52-Week Challenge’ where you save €1 in week one, €2 in week two and so on. By the end of the year, you’ll have saved nearly €1,400. It’s a fun and effective way to build the habit.

7) Keep your Savings Separate

Out of sight, out of mind! Having a dedicated savings account separate from your everyday current account reduces the temptation to dip into it. This is where a specific savings product can really help.

Ready to Put your Good Habits into Action?

At First Tech Credit Union, we’re here to help make your savings work harder. With an interest rate of 2.75% AER*, our 12 month Regular Saver Account is designed to reward your consistency.

It’s the perfect partner for the ‘Pay Yourself First’ habit, helping you build a lump sum while earning great returns in a safe and familiar environment.

Together, let’s make your money matter.   Apply for our Regular Saver Account* today!

Call us today on 01 642 7900.

*Terms & Conditions apply.