YourFinanceCoach

Saving (UK)

Emergency funds, compound growth and getting a savings habit to stick.

Two things do most of the work in saving: how much goes in, and how long it stays. Over the horizon most goals actually have, the size of the regular deposit matters more than finding a slightly better rate. Before either, an emergency fund sized on essential outgoings is what stops an unexpected bill becoming credit card debt at 24% APR.

What this section covers

  • How large an emergency fund should be
  • How compound growth actually behaves
  • Turning a goal into a monthly figure
  • Where to keep money you might need suddenly

Written for the United Kingdom. Terminology, protection limits and regulators differ between markets, so a guide from another country will not transfer cleanly.

UK saving guides

Calculators

Tools for saving

Run the numbers on your own situation.