Learn how to save again

You would love a new sofa, your wife wants a new designer handbag and the kids are crying out for a holiday. But you don’t want to put more on the card. Today’s society is full of ‘must haves’ but a culture of ‘buy now, pay later’ has created a mountain of credit card debt and a financial meltdown in the economy which everyone wants to move on from.

One building society is taking things back to basics and helping people to learn how to save again. Ipswich Building Society has launched ‘Smart Save’ which encourages you to set yourself a target, save a bit regularly towards something special, then sit back and watch your account grow. After all, it’s always easier to save when you have an incentive.

Paul Winter, Chief Executive, Ipswich Building Society, says: “Smart Save is simple and transparent and you can see exactly how much your regular savings will add up to. We are encouraging people to plan their purchases and learn how to save again. It gives you the satisfaction of buying yourself something with your own money, rather than worrying about repaying a debt.”

Smart Save is a simple savings account where you make variable monthly direct debit savings of between £10 and £500. There’s a variable interest rate calculated on a daily basis and an annual bonus of 3.00% paid on the account’s anniversary if you have made 11 monthly payments. You can even make one penalty free instant access withdrawal per year.

So if you know you’d like to plan for a home improvement, a dream wedding or your son/daughter’s University education, then Smart Save will help you get going. Why not aspire to and save for your dream purchase and avoid the worry of credit card debts or hefty interest rates on loans or finance deals.

For more information about Ipswich Building Society’s Smart Saver account, visit www.ibs.co.uk