For many people struggling to balance income and spending each month, the idea of saving can seem impossible. But with the minimum amount of cutbacks in your lifestyle and being cannier with your household costs, first direct calculates it’s possible to create a handy nest egg – even as much as the new Cash ISA limit of £5,100.
With current fixed interest rates of 2.65% AER available (based on First direct eISA Account) £5100 will become £5237* after one year.
| Item | Cost per item/saving | Number cut out in a year | Total saving | Rolling savings total for the year |
| Latte | £3 | 48 (4 per month) | £144 | £144 |
| Diet colas (500ml) | £1.50 | 48 | £72 | £216 |
| Glass of wine | £3.50 | 48 | £168 | £384 |
| Bottle of spirits | £14.50 | 8 | £116 | £500 |
| Takeaway for the family | £20 | 12 (1 per month) | £240 | £740 |
| Hair cut and colour | £65 | 1 | £65 | £805 |
| Cinema trip for one with goodies | £19.50 | 10 | £195 | £1000 |
| 20 cigarettes | £5.50 | 48 | £264 | £1264 |
| Pay per view film via TV | £4.00 | 12 | £48 | £1312 |
| New outfit | £300 | 1 | £300 | £1612 |
| New shoes | £50 | 1 | £50 | £1662 |
| Dinner for 2 | £84.50 | 4 | £338 | £2000 |
| Chocolate | £0.50 | 48 | £24 | £2024 |
| Shop at a cheaper supermarket | £15 (ave. saving per week) | 52 | £780 | £2804 |
| Switch gas and electricity provider** | £425 | 1 | £425 | £3229 |
| Switch car insurance provider** | £200 | 1 | £200 | £3429 |
| Bundle home phone, TV and broadband** | £220 | 1 | £220 | £3649 |
| Switch current account tofirst direct | £100 | 1 | £100 | £3749 |
| Take public transport rather than a taxi | £10 | 48 | £480 | £4229 |
| Cancel gym membership | £42.99*** | 12 | £515 | £4744 |
| Weekend getaway | £280 | 1 | £280 | £5024 |
| Take the kids to the park rather than a theme park | £76 | 1 | £76 | £5100 |
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