Ed Bottomley, Product Lead – Savings and Partnership
21 September 2026
Imagine being able to save for the things you want – and have money spare if life ever throws you a curveball.
Sounds good, doesn’t it?
But let’s be honest, saving money isn’t always easy. Life gets in the way – and with so much competing for our cash, it can quickly slip down the priority list.
That’s why UK Savings Week matters.
It reminds us that saving isn’t about being perfect. It’s about building habits that work for you – doing what you can, when you can, whatever life stage you’re at.
How to build savings habits, whatever your life stage
Stage 1: Starting to save
Your 20s are often a decade of firsts. Your first full-time job. Your first car. And the first time you’re fully responsible for your money.
With so much going on, saving can feel hard. But right now, building the right habit matters more than how much you’re saving.
Savings tips
Start small and stay consistent
Don't wait until you can afford to save lots. Putting away £20 regularly can add up over time and help you build a consistent savings bit.
Pay yourself first
If you can afford to, consider setting up a standing order just after payday to move a little into your savings every month. That way, you’re saving before you’re tempted to spend it. And because it happens automatically, you’re more likely to stick to it.
Find a savings account for you.
Look into a Lifetime ISA
Saving for your first home? A Cash Lifetime ISA (LISA) could help you get there sooner.
- If you’re aged 18-39, you can save up to £4,000 each tax year and receive a 25% government bonus on top. That’s up to £1,000 extra every year, helping you build your savings faster.
- You can keep paying into your LISA until the day before your 50th birthday. And if your plans change, this money can be used to save for retirement instead.
- Once your account has been open for at least 12 months, you can use it towards your first home – provided the property costs £450,000 or less.
- If you withdraw money for any other reason before the age of 60, a 25% government withdrawal charge will usually apply. This means you could get back less than you paid in.
See if a Cash Lifetime ISA could help you.
Stage 2: Juggling life, family and the future
Life can be especially busy at this stage. And chances are, your money has a lot more to pay for than it did ten years ago. Maybe that’s a mortgage, children, household bills, family holidays, and home improvements? The list can feel endless.
That’s why saving at this stage can really count. If you can afford to, setting aside even small amounts could help you feel more prepared for the future and any surprises that crop up.
Savings tips
Build an emergency fund
A broken boiler or car repair usually surprises us when we least expect it. Putting money away can help you deal with the unexpected – without knocking everything else off course.
Start saving for their future
Whether it’s for university, their first car or a house deposit, saving regularly for your child could give them a valuable head start in life.
Check out our children’s savings accounts.
Save more after a pay increase
Received a pay rise, bonus or started a new job? This could be the perfect time to save a little more each month.
Find a savings account for you.
Take a step back and look at the bigger picture
If you’re balancing a mortgage, family costs, savings goals and retirement plans, this can feel overwhelming. Whatever you’re juggling, a free My Money Review could help you get a clearer picture of your money, understand where you are, and explore ways to make the most of your money.
Get free advice on your money with a free My Money Review.
Stage 3: Preparing for retirement
Retirement no longer feels like a distant milestone – it’s starting to feel real. So, you might be thinking more about when you’d like to retire, and the lifestyle you want.
At the same time, helping your children, supporting older relatives, or thinking about your legacy may be at the forefront of your mind.
Savings tips
Check you're making the most of your money
As retirement edges closer, it's worth making sure your savings and investments are still working how you want them to. A My Money Review can help you understand where you stand and look at areas you could improve.
Check you're on track for retirement
Now is a good time to think about what you want from retirement, how much income you’ll need, and any steps that could help you boost your retirement savings
Get to know your pensions
Make sure you know where your pensions are, how much you’ve built up, and how they’re performing.
Consider financial advice
Retirement, Inheritance Tax and passing on money to loved ones usually involve big decisions. But speaking to a financial adviser could help you understand your options and build a personalised plan.
Your money is at risk when you invest. Inheritance Tax thresholds depend on your own situation and the law, and rules could change. Most Inheritance Tax planning options aren’t regulated by the Financial Conduct Authority.
Explore our financial advice service.
Book a free My Money Review.
Managing money later in life
After decades of working, saving and planning, this stage is about enjoying the life you’ve worked hard to build.
At this stage, it’s important you feel confident that your money can support the life you want, whatever comes your way.
Savings tips
Check that your income and savings are still working for you
Your needs change over time, so it’s worth reviewing your money regularly to make sure they still support your lifestyle.
Prepare for future expenses
You may have extra costs to deal with in the future, such as later-life care or extra support. Having something in place now could help you feel more prepared.
Have open conversations with your family
Talking about your plans and wishes now can avoid uncertainty and make things easier for everyone in the future.
Consider financial advice
Thinking about passing on wealth, helping family financially, or planning for future care costs? If you’re happy to take some risk with your money, a financial adviser could help you make a plan that’s right for you.
Whatever your money goal, let's make a plan
Whether you’re saving for something exciting, building a rainy-day fund or planning for retirement, our team are here to support you.
- A free My Money Review can help you take a step back, get a clearer picture of your money, and explore ways to help you make your money work harder. Book a free My Money Review.
- If you’re happy to take some risk with your money, our no-obligation financial advice service could help you make the most of your savings and plan for the future. Learn more about financial advice.