For many households, the barrier isn't willpower. It’s where the spare money to save comes from in the first place. This guide highlights where you can save and outlines the main savings accounts that suit different situations.
Where Households Could Realistically Find Extra Money To Save
Building a savings habit is easier when the money comes from somewhere specific rather than a vague resolution to "spend less." The areas below are usually where households find the most savings without much lifestyle change, or cutting back on things the family enjoy.
Energy Tariffs: Checking your monthly bill against the Ofgem price cap and comparing fixed energy deals to see if it is worth switching to a new supplier can result in a significant annual saving.
Broadband and Mobile Contracts: Many people drift onto expensive out-of-contract pricing, and switching to a new broadband contract can often reduce monthly outgoings.
Insurance Renewals: Home, car and life cover frequently auto-renew at inflated prices, but comparing 2–3 weeks before renewal can sometimes result in a big saving that is often missed.
Subscriptions: Many people forget about streaming services, app subscriptions, and memberships that go unused but keep billing. These can add up to a substantial amount each month that could otherwise go into a savings pot.
Existing debt: A debt consolidation solution to combine high-interest credit card or loan balances can cut monthly interest costs and make repayments more manageable.
Grocery shopping: Taking advantage of loyalty pricing, switching to supermarket brands, and reducing overall food waste at home are simple habits that can free up money each month.
Redirecting even one of these savings straight into a regular savings account can result in an ongoing habit, which is exactly what UK Savings Week is designed to promote.
The Main Types of UK Savings Accounts
1. Easy access accounts
Easy access accounts let you pay in and withdraw money whenever you need to, with no notice period and usually no penalty. Rates tend to be lower than accounts with restrictions, but the flexibility makes them the natural home for an emergency fund. For example, money you want to be immediately available if the boiler breaks or the car needs a new clutch.
2. Notice accounts
Notice accounts are a middle ground between easy access and fixed terms. You'll need to give the provider between 30 and 120 days' notice before withdrawing, in exchange for a typically better rate than easy access. This option is useful for money you're fairly confident you won't need at short notice.
3. Fixed-rate bonds
Also called fixed-term savings, these lock your money away for an agreed period (usually one to five years) in return for a guaranteed rate that won't move, even if the wider savings market falls. The trade-off is limited or no access during the term, so they suit money you're confident you won't need to touch.
4. Regular savers
Designed to reward a consistent monthly habit rather than a lump sum. You commit to paying in a fixed amount each month (often between £25 and £500) and earn a competitive rate, usually capped once the balance reaches a certain level. These accounts are great for the exact behaviours UK Savings Week is trying to encourage.
5. Cash ISAs
Interest earned inside a Cash ISA is completely free of income tax. The allowance for the 2026/27 tax year is £20,000, shared across all the different types of ISA you hold.
However, this is the last full tax year adults under 65 can put the entire £20,000 into a Cash ISA. From April 2027, the Cash ISA-specific limit drops to £12,000 for under-65s, with the remaining allowance reserved for stocks and shares ISAs, so anyone planning to use their full allowance may want to act before the change.
6. Premium Bonds
Not a savings account in the traditional sense, as there's no guaranteed interest, but every £1 bond is entered into a monthly prize draw, backed by NS&I with capital fully protected. Some savers treat them as a tax-free alternative to a standard account, accepting the trade-off of no guaranteed return.
Getting Financial Support If You Need It
Building a savings habit is easier once any existing debt or day-to-day money pressure is under control. If that sounds familiar, several free, independent services can help before you take on any new borrowing or comparison decisions:
Money Helper: A government-backed service offering free, impartial guidance on budgeting, savings, and debt options.
Step Change: A debt Charity, offering free debt advice and management plans for people struggling with repayments.
National Debt Line: Free, confidential advice by phone or webchat for anyone dealing with debt.
Citizens Advice: Local and online support covering debt, benefits entitlement, and wider money problems.
None of these charge for advice, and speaking to one doesn't affect your credit score. For many households, the biggest step is getting a clear picture of existing debt first, so any spare money each month can go toward a savings goal rather than servicing interest.