09:54 25 May 2013
News lately shows that the UK experienced lower than expected growth in the retail sector. While many blame the poor weather or internet sales, it could also be that more people are trying to establish savings.
With any budget, it’s important to allocate funds for shopping, but also to deposit funds in savings accounts as well. This way you are able to shop for unexpected things you need and stimulate the economy, but also have funds for emergencies.
Here are a few ways you can strike a balance in your budget between spending and depositing in savings:
If these are not monthly costs, you set this money aside in a savings account until you need it. Since these are things, like vehicle maintenance, that may happen every few months, you don’t really need to worry about earning interest, but it never hurts to compare savings accounts anyway in case you end up not needing the funds.
Disclaimer: Supanet is not responsible for, and disclaims any and all liability for the content of comments written by contributors to this website