Set a target
It’s much easier to save for something specific where you have a goal to aim for. Some people save simply for a ‘rainy day’, others to pay for the special things in life.
When you have a set target it always good to see the money steadily mounting up. But make sure your targets are attainable by saving – you could get that mobile phone or laptop quite quickly whereas a deposit for your dream home could take a long time!
Challenge yourself
Save for the things you want in the short term, like a new phone, a sound system, or a games console. Once you have enough for the thing you want, you may find you prefer having the money in the bank.
Then, you can set that sum of money aside and think about the long term. Lock it away for a fixed term and earn a better rate of interest.
Then you could think of something else you would like. And keep paying into your savings account until you’ve saved enough for that.