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Saving cash is hard. Especially if you’ve got kids. There’s always something to buy or get fixed. It can be overwhelming if more outgoings come at once and they’re unexpected, but having a small chunk of savings is important for emergencies.

uk money fanned out in a hand

It might feel like it’s impossible to build it up, but there are things you can do to help your savings grow. Not just for emergencies, but for specific things you have your eyes on.

Whatever the case, it’s great to have that little bit of extra money in your account. These tips aren’t the answer to debt woes. If you feel like you’re in real trouble in terms of debt you’d be better looking for specific and targeted advice.

Review Your Energy Consumption

Heating your home can cost a fortune, especially in those places more susceptible to cold weather. But try to think about things the other way around. Instead of spending money to heat your home, spend money to stop your home from losing heat.

There are a few different options on the table but New Windows are a great way of ensuring heat stays in the home especially if you are going to upgrade to double or triple glazing.

You can do the same going up. Insulation is paramount if you want to protect your home from heat leakage. Heat rises, and if you get insulation in your loft it can stop it from leaving.

You can also get insulation built into your walls but it’s pricier and a more complex endeavour. You may think this is paradoxical, as you’re trying to save money but are spending it.

It’s a short-term spend but will pay dividends in the long run. See it as an investment, because the value will likely go straight onto your home in any case.

A close up of British pound coins

Side Hustle

The best way to boost your savings is by putting more money into it. Sounds obvious, doesn’t it? But if you can’t save anything from your day job income, it might be worth looking for something else to give it that little boost.

As a caveat, remember your mental health comes first. Don’t go launching yourself into something if you don’t have the time. That being said, you can do as little as you want.

Look at your skills, what could you do? Maybe a few hours of tutoring a few hours of tutoring? Or if you can write think about getting into the freelance game. There is a myriad of options on the table.

In the simplest sense, it could just be picking up some overtime at your current place of work. Having a side hustle is a key way to boost your savings, just remember to record exactly how much you take home, wouldn’t want to end up in trouble with your local tax authority.

A person using a laptop computer sitting at a wooden table

Make The Most Of The Comparison Sights

They’re everywhere these days. A real tool for the consumer. Comparison sights can bring your outgoings down dramatically if used properly.

You can use them for so many things too. First, look at your utilities. Gas and electric. See if you can reduce them. If you use the two together you most certainly can.

If you haven’t swapped for hears you could be in for a monster saving. Then look at your car insurance. If you keep renewing with the same insurer year after year you’ll be paying over the odds, no doubt about it.

Get it changed quick, bearing in mind you can get multi-car discounts too to further increase your savings.

One of the biggest changes you can make is to your mortgage. Because the interest is usually on such a high amount it pays to change it up.

Again, you can use a comparison site to find the best mortgage but you can also use a broker to help you navigate the waters. Just remember to try and get a broker that charges a fee on the other side and not your own.

Comparison tools are easy to use but remember there are some providers across the board who don’t use them, you may have to look a little wider for a full spectrum of offers.

Use Your Savings Wisely

Building savings is hard. But what do you do with them when you have some? It depends on how much you have. You don’t want to lock everything up in a long-term ISA in case you need it.

However, you’ll want to make the most of it. Make your money work for you. Make sure you put your cash in high-interest savings accounts.

The rates change years and it’ll be in the jargon, so make sure you read it properly. Pull your cash out when the rates change and put it into a better account with more interest. You might have to split your money too.

Don’t be afraid of using some unheard-of banks. Just check if they are properly regulated and if your savings are guaranteed by the government.

The highest returns are on stocks and shares ISAs, but your money is partially at risk here. You can select your risk level in most cases too. For less interest but a safer return think about bonds.

Remember, everything you put into these kinds of saving accounts has to stay there for the duration or you’ll lose out.

Sell Unwanted Items

Everyone has stuff they don’t use anymore. Whether they’re in the attic or stuffed in the corner gathering dust. Sell them. You’ll free up space in your home too and it’ll look less cluttered. Look for any jewellery or wristwear.

If you don’t wear it anymore and it holds no sentimental value consider getting rid. Same for those stacks of old DVDs and games you don’t use anymore.

This isn’t a long-lasting option, but a short boost idea you can use to get a little bit of cash for emergencies or small purchases. Just don’t start selling things you think you way want at a later date and certainly don’t start pawning items. There are better ways to raise funds, especially for savings.

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