World Savings Day: 5 small habits that make a big difference

What is left at the end of the month is often very little. If you move a fixed amount into savings as soon as your income arrives, ideally through a standing order, saving becomes the default rather than a decision you have to make each time. Before you settle on an amount, look at what is due in the coming weeks. If you have open Riverty payments, the Riverty app shows them in one place.

A goal such as “winter holiday” or “new laptop” is far easier to stick to than “money for later”. Keep it in a separate account, away from your everyday spending, so that you are not tempted to dip into it. Many banks let you create sub-accounts or pots for exactly this purpose.

For anything non-essential, put it on a list and come back to it in two days. If you still want it, buy it, knowing it was a considered choice. A surprising number of impulse purchases do not survive the wait, and the money stays where it was.

Subscriptions, memberships and insurance policies are easy to forget once they are set up. Put a reminder in your calendar every few months and go through them, asking whether you still use each one and whether it still suits you. Cancelling something you no longer need takes a few minutes, and the saving repeats every month.

When a bill comes in lower than expected, a refund arrives or you choose the cheaper option, move the difference into savings straight away. The same applies to a pay rise: increase your regular transfer by a small amount before the extra income becomes part of everyday spending. You were not counting on that money, so setting it aside is barely noticeable.