Sun Savers reveal SIX top tips that’ll help you to get better at saving your money

START the week a little richer by joining our new Sun Savers club.

Every month in the Scottish Sun we’re giving away a free fiver to our most loyal readers.

To bank your cash, all you have to do is download our free Sun Savers app then scan the code which appears on the Sun Savers page each day, or log onto Sunsavers.co.uk to get started.

Once you’ve collected 28 codes, we’ll send the money straight to your account.

Full instructions are on the Sun Savers page, and it’s free to take part – so get started today to be in the money.

Now, yesterday the Scottish Sun revealed the money Brits save each month has crashed to an all-time low.

Just 1.7 per cent of our total disposable income — the amount left after tax — was put aside in the first three months of the year.

The savings ratio has averaged 9.2 per cent of disposable income over the past 54 years when records began, but hard-pressed households are now seriously struggling to find spare cash to save.

So, how can you save more when there’s not much to go round in the first place? To help, we’ve teamed up with Jamie Smith-Thompson, managing director at pension advice specialist, Portafina, to reveal the top six tips.

1) Concentrate on clearing your debts first – they will be costing you far more than you could gain elsewhere by saving. The worst offenders? Credit cards and payday loans.

2) Ask yourself “Do I really need this?” If you really do then your next question is “How can I get it cheaper?”. Set yourself a discount target and get comparing prices, finding vouchers and better deals.

3) Get into the habit of managing your money regularly – not just when there is a crisis. The more you understand your income and outgoings the easier it is to avoid that crisis altogether.

4) Make sure you aren’t leaking cash through old direct debits for services you no longer use. Check your bank account online or ask at a branch for a list of them.

5) Plan for the future by budgeting and putting aside three savings pots – “rainy day” money, “treat” money and “long term savings”. Set yourself targets and then be disciplined to achieve them.
6) Use technology to make it easier – there are lots of apps available to help you manage and save your money. Once you are able to save, then look at products that pay you interest for saving.

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