From simple tips like setting a budget and cutting back on non-essentials to more complex rules that claim to optimise every penny, much of it assumes a level of stability that doesn’t reflect how many people actually live.
In reality, life rarely sticks to a formula. A surprise bill, a slow month for business owners, or a grocery shop that costs more than expected can upset even the most carefully planned savings strategy.
When this happens, it’s important to keep perspective. Saving doesn’t have to be rigid – and it certainly doesn’t have to be all or nothing. With the right approach, even small, flexible habits can make a meaningful difference.
Rethinking what it means to be a ‘good saver’
Saving isn’t just about willpower; it’s about structure. The key is setting up spending and saving boundaries that match how your income comes in. It’s a question of discipline, and while it doesn’t mean you have to be totally inflexible, it does require commitment.
That commitment starts with understanding your income patterns – whether you’re paid monthly or weekly, or your earnings fluctuate. From there, you can build a savings approach that adapts; setting aside money when more comes in and easing off during leaner months. It’s less about strict targets and more about creating a habit that can be sustained long term.
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The benefits are more than just financial. A study by the University of Bristol found that putting any amount of money aside every month helps with improved sleep and life satisfaction. So, like exercise, saving is a habit that makes you happier and healthier.
Being a good saver doesn’t mean being someone who saves lots of money, but rather being someone who saves regularly. Instead of treating saving as a test, savers should focus on making the act more instinctive.
Starting small
In recent years, the idea that small, repeatable actions lead to lasting change has gained real momentum. It’s a theme you’ll recognise from the publications that line bookshop shelves – like Atomic Habits or Tiny Habits – all pointing to the same conclusion. Behavioural experts such as authors James Clear and BJ Fogg have shown that the most effective way to build a habit is to start small, tie it to something you already do, and let consistency do the rest.
Meanwhile, academic research has shown that people who set clear savings goals are more likely to build stronger saving habits and make decisions that boost long-term returns. That’s why aiming to set micro goals can be far more effective. If you are creating a financial plan from scratch, setting small, achievable savings targets will make it easier to get started and stay consistent without feeling overwhelmed.
Techniques like habit-stacking are particularly useful. Linking a savings action to something you already do, such as transferring £1 every time you make a morning coffee, can help make saving feel like part of your routine rather than another task on the to-do list.
Making the tools work harder
Behaviour change is far easier when it’s backed by the proper support. That’s why it pays to be thoughtful about where you save. Choosing a savings account that reflects how you manage your money, whether that means easy access when you need it or a guaranteed rate over time, can make all the difference.
It’s also worth remembering that no product stays best forever. The account that worked for you last year might not deliver the same value today. With the Bank of England cutting interest rates to 4.25% at its latest meeting and further reductions expected over the coming months, now is a good time to review your options. The best savings accounts can do some of the work for you, helping you stay consistent without requiring constant effort.
Of course, it’s not just down to individuals. Financial institutions have an important role to play in making saving feel more achievable. That includes offering clear and competitive options, building tools that fit around people’s routines, and removing unnecessary complexity. When saving feels simple and rewarding, more people are likely to stick with it and feel the benefits over time.
In a cost-conscious society, saving can feel like just another pressure. Yet small steps, repeated often, can build lasting habits – even when circumstances are uncertain.
Moving away from rigid rules and embracing flexible, achievable actions makes saving work for more people, whatever their starting point. Saving isn’t about perfection; it’s defined by gradual progression.
Ben Mitchell is director of savings at Chetwood Bank
