What are you like with your money? Discover the perfect savings account to suit you
Everyone’s different when it comes to building up and spending their savings. Some are happy to put their money away and leave it alone for a while to stack up. Others like to put a bit away and watch it grow, but also like the freedom to dip in and out now and again.
No matter what type of saver or spender you are, there’s a savings account just for you.
Here are a few tips on how to pick the right one.
Are you a big spender?
This type of saver finds it hard to resist indulging in a little shopping therapy or other treats. That said, they know that setting aside a little something each month quickly builds up. If you’re a big spender, you’ll probably want a savings account that lets you dip into your money. So look for accounts that allow easy access, so you can get to your money as and when you want to.
Are you a savvy saver?
With an eye on the future, this person takes saving in their stride. They’ve worked out what they can afford to put away each month into a savings account and they have a standing order set up so they don’t have to think about transferring money from a current account. But it’s not all about squirrelling money away into regular savings accounts
– they’ll dip into their savings once in a while, to take care of life’s little surprises. The best accounts for this type of saver are those that offer a good rate of interest, as well as allowing money to be taken out without any charges.
Are you a committed saver?
This type of saver is in it for the long haul. They tend to pay in one big sum into their savings account, and are willing to leave it alone for up to five years. This means they can take advantage of some of the best interest rates available – with accounts that offer a fixed rate of interest for the life of the account.
Of course, choosing the right savings account for you and your money is not just about what you’re willing and able to put away each month. Consider how you like to do your banking – online, in branch or over the phone. Then, before you sign up to anything, it’s a good idea to compare savings accounts.