Saving for tomorrow

If you can make it a habit over time, regular savings – however small – will add up. The earlier you start saving, the more money you will have to help you achieve your goals, or to retire on.

Savings and investments

Savings tend to be for short-term goals or when you need to get at your money quickly (for example, a holiday, birthdays, Christmas or an emergency such as replacing a household item). You usually put your money into a savings account where it earns interest, without the risk of losing it (short of a bank, building society or credit union collapse). You can also save with some supermarkets, local shops or informal Christmas savings schemes, for example, using saving cards or schemes where you save for vouchers but, be aware that if things go wrong and the saving scheme collapses, you may lose your money. For more information see Savings.

Investing is for the longer-term – if you’re willing to tie up your money and take some risk, (have a short-term loss in order to have the opportunity to make a long-term gain) to get a better return. For more information see Investments.

Alternatively, you can get a free copy of our Saving and investing booklet. You can download or order it online – see Publications.

Step 1: Take stock

Find out how to get your finances in a position to start saving.

Step 2: Take action

Find out about different ways to save.