Whether you want to know how to save for an important step in your life such as buying a property, or you’re simply preparing for the future, there are simple and effective ways to do it.
It's important to understand that saving is a long-term habit which is more of a marathon than a sprint. Saving too much too quickly isn't necessarily healthy, because you'll be holding yourself back and run the risk of giving up before you've achieved your goals. Whereas, adopting a regular savings habit, calculated according to your income and lifestyle, will feel easy, which will motivate you to continue and you’ll soon reap the rewards.
With this set of saving tips, we will give you some basic but practical advice to help you save money effectively. Money that you can then use to increase your savings.
"}},{"componentType":"sectionTitle","title":"Saving for the future"},{"componentType":"paragraph","richBody":{"value":"It's important to save for the future as well as the present. This includes saving for retirement, for emergencies, for your children's education, to buy a house, etc. It's much easier to save when you have a clear medium or long-term goal, than simply to save for the pleasure of seeing your savings account balance increase.
Obviously, depending on your objective: It may be essential to adopt a saving mentality. This means living below your means, not taking on unnecessary debt and valuing saving over consumption. However, it is just as important to set clear and realistic saving targets. This type of method should enable you to continue to live well while you enjoy your free time. The main thing is to find a good balance.
One of the most effective ways of saving for the future is to set up an automatic savings plan. This means setting a fixed amount to be transferred from your current account to your savings account each month. That way, you can save money without having to think about it too much.
It is also useful to diversify your savings. This can include savings accounts, a pension scheme, but also investments such as mutual funds, shares, bonds, etc. By diversifying your methods, you can reduce the risk and increase your chances of long-term profitability.
"}},{"componentType":"sectionTitle","title":"9 savings tips to increase your saving capacity"},{"componentType":"paragraph","richBody":{"value":"Knowing what you spend is the first vital step towards effective saving. It's hard to know how to make savings if you don't know where your money is going. That's why it's important to keep a close eye on your spending (for example: record every expense you make in a notebook, a simple Excel spreadsheet or a Google Sheet)
By knowing where your money is going, you can take steps to reduce your spending in these areas if you wish.
"},"title":"1. Know what you spend"},{"componentType":"paragraph","richBody":{"value":"Once you know what your expenses are, drawing up a budget is the next step towards saving money. It shows your income and expenditure, so you can manage your money better. Budgeting involves planning your expenditure in relation to your income, taking into account your needs and priorities.
To create an effective budget, follow a few tips. First of all, determine your net monthly income, i.e. the money left in your account after deducting tax and social security contributions. Next, list all your monthly expenses, distinguishing between fixed expenses (e.g. insurance, rent, credit) and variable expenses (e.g. food, holidays, etc.).
Once you have an overview of your income and expenditure, you can determine an amount to save each month. The recommended amount to save is around 10 to 20% of your income, but this can vary depending on your situation and your financial goals.
It is also important to allow for unforeseen expenses in your budget, by creating a category called "emergency funds". This allows you to deal with emergencies without having to dip into your savings.
And don't forget to review your budget regularly, in line with any changes in your income or expenditure. You can also adjust your budget in line with your short, medium and long-term financial objectives.
"},"title":"2. Draw up a budget"},{"componentType":"paragraph","richBody":{"value":""},"title":"3. Reduce your spending"},{"accordionList":[{"richBody":{"value":"Everyday purchases such as food, cleaning products, beauty products and clothing can add up quickly and represent a substantial part of our monthly budget. That's why it's essential to look for ways to reduce these costs.
A few tips to reduce the cost of everyday purchases:
If you want an easy way to calculate how much of your budget goes on day-to-day expenses, there are tools that can help you (for example, an online tool provided by Wikifin).
"},"title":"Reduce the cost of everyday purchases"},{"richBody":{"value":"Unnecessary spending is one of the main obstacles to saving. It's easy to spend money on unnecessary things, which soon adds up and compromises your ability to save. To reduce unnecessary expenses, it's vital to understand what these are and how to avoid them. With a clear, precise budget, you can visualise them much more easily.
Unnecessary spending may include impulse purchases, unused monthly subscriptions, excessive food shopping, expensive outings, etc. To avoid these expenses, it's important to plan and to think before you spend.
Regarding monthly subscriptions, you must take stock of which ones you really use and unsubscribe from those you don't. Free services exist and can provide you with a precise overview of your existing contracts, as well as help with the administrative procedures for unsubscribing.
"},"title":"Reducing unnecessary spending"},{"richBody":{"value":"Bills represent a major part of a household's monthly expenses. Inflation and the geopolitical situation have certainly not improved the situation and are making this part of the budget weigh increasingly heavily in the Belgians’ budget. However, it is possible to reduce these expenses using a few simple tricks.
Electricity is one of the highest bills for most households. There are a few simple tricks to reduce it. They won't revolutionise your spending, but they can make a difference in the long term: unplug chargers, switch off appliances on standby, adjust the fridge temperature (3 to 4°C for the fridge and -18°C for the freezer), use the oven efficiently (try to cook several dishes at once, or use a microwave or induction hob for small meals), adjust the water heater (by setting the temperature to around 50-60°C, you can save energy without reducing your comfort.)
Good management of your heating temperature and schedule: lowering the heating temperature in your home by a few degrees can have a significant impact on your energy consumption. Obviously, the aim is not to reduce your comfort. However, maintaining the right temperature at the right time right time can make a real difference. Aiming for 19 degrees in your living areas in the daytime and 17 degrees in the bedrooms will not be uncomfortable and will be good for your wallet.
Installing a room thermostat and thermostatic valves in every room of your home can also help you keep a tight rein on your heating bills. Finally, tracking your consumption with a dedicated app or recording it on an an Excel spreadsheet to make month-by-month comparisons, can also help you spot anomalies and see whether your consumption is following a normal trend compared with the average.
Although less expensive than electricity, a lower water bill can have an impact on your savings. To save money, it is advisable:
Telecoms bills can be reduced by choosing a package tailored to your needs and avoiding unnecessary extra services. It is also advisable to take advantage of the competition by changing your subscription if necessary.
And don't forget that many of the subscriptions offered with a smartphone are far from a good deal in the long run. They force you to buy a package you don't necessarily need and tie you to an operator for a considerable amount of time. If you want the latest phone, it's sometimes better to save up for a few months and buy it directly during a promotion - which happen fairly frequently.
Finally, television or digital subscriptions are useful and enjoyable, but their uncontrolled combination can quickly add up to a substantial budget that sometimes goes unnoticed. It's a good idea to really think about your use.
Leisure is an important part of life, but that doesn't mean you have to spend a fortune to have fun. There are many ways to make the most of your free time without spending too much money.
To save money on leisure activities, it's important to plan ahead and to look for offers and discounts on coupon or discount websites. You can also look for offers on social networks and in local newspapers.
But it’s still important to monitor your spending and check these activities are within your budget. There's nothing wrong with buying a ticket to a festival or going on holiday (in fact, it's essential to recharge your batteries) as long as these expenses are planned for and included in a clear budget. The key is to identify "treats" that are a little too frequent so that, before you give in, you can ask yourself whether it's really necessary.
Transport often accounts for a large part of monthly expenditure, particularly for those who own a car. However, there are a number of tricks you can use to reduce these costs and save money in the process.
Above all, it's vital to choose your mode of transport wisely. Public transport is generally less expensive than individual car use. The costs of buying, maintaining, insuring and fuelling a car can soon become very high. By opting for public transport, you can reduce these expenses considerably, especially as they are very often reimbursed for work-related travel.
Of course, it's not always possible to use public transport, but in that case you can always reduce transport costs by sharing journeys with other people. Car sharing is an excellent way to save money while reducing your ecological footprint. There are a number of apps and websites on which you can find people to share a journey.
Don't forget that saving money also means managing your budget properly. Listing the costs associated with your car (such as tax, fuel, etc.) allows you to plan ahead and avoid surprises that could force you to revise your plans.
"},"title":"Reduce the cost of bills"}],"componentType":"accordion"},{"componentType":"highlight","richBody":{"value":"In conclusion, effective saving is an essential practice in times of economic uncertainty. To achieve this, it's vital to plan ahead, keep track of your spending and draw up a realistic budget. Cutting back on daily expenses, avoiding impulse purchases and looking for ways to reduce bills can also help increase your ability to save.
Diversifying your savings methods, including investment, can be beneficial in the long term. Setting up an automatic savings plan and setting clear objectives will help you to maintain a regular savings habit. By adopting a savings mentality and finding a healthy balance between saving and leisure, you can achieve your financial goals while living life to the full. Check out our products and services for more information on the savings and investment solutions that meet your needs!
"}}]},"hasMacro":false,"id":"526ff26d-d94f-4d62-904d-f3c827640ddc","localeString":"en-GB","mainHeaderZone":{"backLink":{"textLink":{"text":"Saving","url":"/en/individuals/saving"}},"componentType":"editorialHeader","coreHeader":{"body":"In this period of economic uncertainty, it is more essential than ever to recognise the importance of saving. It may seem hard to save money, but with the right planning, some essential savings tips and a few small changes to your habits, it can be done.","headerImage":{"extension":"jpg","original":"https://assets.ing.com/m/47dde74125d2d6d7/original/Close-up-of-female-accountant-or-banker-making-calculations.jpg","transformBaseUrl":"https://assets.ing.com/transform/7a763db3-4343-4121-9c33-fee66872b4c8/Close-up-of-female-accountant-or-banker-making-calculations","type":"image","width":2508},"title":"Effective savings tips: a practical guide"},"date":"2025-12-16","readingTime":5},"publishDate":"2025-12-16T15:59:10.481+01:00"}}