To be surprised that since I installed 'loose change' round-up app, I've saved...

[FaderInvader]

£449 since November?! Hoping this might help others who are rubbish with saving money.

I downloaded an app that rounds-up my debit card and direct debit transactions to the nearest pound and it invests it into a Stocks and Shares ISA.

I'm crap at saving, so the fact that I can't access it readily means it's built up to £449. With a £19.61 / 4.5% return.

I've also set up regular small savings with my local credit union. Which means I can take out loans if needed at 1% per month, charged on the remaining balance only. I took out a small loan for my dad's car repairs and when he paid it back the interest was minimal and no early repayment charges.

Apologies if I'm teaching you to suck eggs, but I went 41 years until I found out about these options. Just wanted to share them. ☺️

Yes quite a few banks are doin this and you can set up pockets for different savings - holidays, car, Christmas etc

Monzo also shows you where your money goes for exampl ‘coffee shop’ or ‘tescos’ and you can really see where it all goes

Try assigning spends to individual kids!!

Because of the nature of my job, I get paid a lot in cash (behave!) and I chuck the coins into a big metal vase, then treat my youngest and I to a lovely day out. My middle boy saves his change with Monzo and loves it. There’s no way that he would bother putting money away each month, so this is an nice easy way for him to save.

All you Lloyds people don’t forget to activate Everyday Offers and - key point - activate them all as that way you get more!

Does anyone know if Natwest offer this?

@thefirsttimer. Not aware that they do. I'm with them too.

This Monzo sounds good though.

Do HSBC offer this, anyone know?

I use the Lloyds tsb save the change and it goes into my sons saving account it’s saved him hundreds so far

Does anyone know how to do this on nationwide app if they do it?
I've had a look and can't see anything

Just turned on mine in the Halifax app! Thanks OP

Thank you for this, it's just taken me two minutes to set up on my banking app.

I don't know how you are all managing to save so much! I manage £5 in 6 months if I'm lucky! But then I don't go "out and about" to spend money. All groceries bought online and delivered (I don't think they round up on online purchases). I don't think I've bought anything from a shop in ages. I WFH too so no travel costs, coffees, lunches etc. I guess for the average person it would add up but it certainly hasn't paid off for me!

@Asta19 yeah, I rarely use cadhy. It rounds up debit cards, direct debits and money transfers.

Plus I send £10 automatically on payday too. So that's £80 of that £449.

*cash, not cadhy

@Helpmedecide123 I've just Googled and yes HSBC do.

Placemarking, I'm considering this. But the only app available in my country charges a euro per month so I want to give it some thought.

Might try it just for fun though.

This is just moving money around though, right?

True saving means not buying things you would otherwise buy, and/or getting a discount.

Topcashback is great (I've had £2000 in cash back by switching insurance, broadband and utility providers annually) and Monzo is brilliant for using abroad, no card transaction charges, actual conversion rate and you can withdraw £200 commission free.

I've got one of those. It's great. I love it. The round pound adds up.

This is just moving money around though, right?

True saving means not buying things you would otherwise buy, and/or getting a discount.

I think that the idea is that people who normally think "I've got x amount in my bank account" and feel like it's ok to spend it end up saving without realising, because they are skimming off small amounts each day without really noticing. These small amounts then add up, and you don't get to the end of the pay period and think ooh I've got x pounds left, I'm going to treat myself.

If you already follow a budget or don't make many incidental purchases, then you wouldn't have much benefit from it I don't think.

Whenever I pay with my debit card, my back transfers 2e to another account. It's an awesome way to save a bit more money. I love it!

I've had a look on my Nationwide app and I can't see anything either Justme10

I got an instant access savings account and at the end of the day say I've got £52 in the bank I transfer £2 to my savings account. Or 21.23 I'll save £1.23.
It's quite nice to see it going up. Unfortunately it doesn't usually get very far before I need it back again!

Thanks for the thread OP, have now set this up with my banking app :-)

@RightOnTheEdge yeah I saw the instant saving, wasn't sure if it was maybe the same thing but a different name lol

I do this to overpay my morgage. Every evening I transfer money to my mortgage so my available balance is rounded down to the nearest ten pound. Eg if my balance was £563.45 I would transfer £3.45 to my morgage.
I also like how it looks neat every night

@Justme10 I can't see it available with Nationwide

I do have a Lloyds account that I just use for paying in cheques (only bank with branches locally) so I'm tempted to use this account for spending on and use the save the change app too.

I do it through my Monzo card - goes into a savings pot. I've saved £76 this way but no idea when I started it. It really is an easy way to save.