If you really want to save up some money it is helpful to be more aware of how to make the most out of your bank account. The experts on how to save your money, the team at PIWoP, the price alert service, have come together and outlined the top 3 ways in which you can save money with your bank.
Use your rewards carefully
If you use a cash back rewards incentive programme you are guaranteed a percentage of what you spend back into your bank account to do what you want with. When receiving cash back, it’s a great idea to plan how you are going to spend it instead of splurging your money. With that bit of extra cash you may find it useful to use a price tracker tool like PIWoP. By being smart with your money, you can cut back on unnecessary purchases and only buy when the item reaches the price you want to pay. Simply 'share' with PIWoP if on a phone, or click the 'PIWoP it' button in your browser, of that TV, Ipad or new computer you’ve found
online to a ‘tech’(or whatever you choose) list on PIWoP, set the price you’re willing to pay and the tool will notify you when the item is reduced to or below that price. You can register for free and then download the App and/or browser button at www.piwop.com
Automate your savings
By setting up an automatic transfer in to alternative accounts on pay day, you are ensuring that those funds are put away safely and not spent. By having your money separated early on, this makes it easier for you to budget and be sensible with your spending. Not only this but you can see how much money you are regularly saving which is a great boost of motivation to keep up your budgeting habits.
Choose the right account
Consider what you are saving for and when you are likely to need the money. If you have short-term goals then you may be more suited to a savings account, however, if you are putting funds away for a house in the future, then consider ISA’s or more long-term investments that tend to tie your money in for a longer period but offer better interest rates as a result. It’s important to choose the right account for you. The team at PIWoP know that every person’s saving journey is unique and their tool is available to support individual’s needs.
If you would like to find out more about our price tracking tools, click here