Ready, Set, Save – The savings tips I’d give my 20 year old self

We asked Head of Savings Operations, Jon Harrison, what advice he would give his younger self about saving money:

If I could sit down for a chat with my 20 year old self – probably in the stands at Elland Road – I’d start with the simple message, start saving now. Back then, saving felt like something future-me could worry about. But looking back, I can see how even a few small, sensible financial habits could have made a huge difference later on.

Here are the lessons I’d pass on to younger me, and to anyone just getting started on their savings journey.

Start small – consistency is the important thing

At 20, saving £10 a month may not sound like much, but it’s all about starting the habit. Setting up a regular standing order into a savings account, even for a small amount, builds consistency. The earlier you start, the more those habits (and the interest) grow over time.

Make savings part of your budget and not an afterthought

It’s easy to think of saving as something you’ll do with whatever is ‘left over’ at the end of the month. But in reality, that rarely works. When you treat savings as a fixed part of your budget – like rent, food and bills – you are making it non-negotiable.

Try the 50/30/20 rules as a simple budgeting guide:

50% for needs (rent, food, bills)

30% for wants (social life, hobbies)

20% for savings or paying off debt

Don’t ignore interest rates

When you’re just starting out it’s tempting to stash your money with the same bank you have your current account with, but interest rates and account types can make a real difference so it’s important to compare accounts online.

Regular saver accounts often pay higher interest if you commit to saving a certain amount each month.

ISAs (individual savings accounts) allow your money to grow tax free (up to an annual allowance) which is ideal for long term savers.

Give your savings a purpose

It’s easier to save when you know what you are saving for. That could be your first car, a dream holiday or a deposit on a flat. Having clear goals keeps motivation high and helps you track progress

Remember savings is about freedom, not restriction

At 20, I thought saving meant missing out. Now I know it’s the opposite. Having savings gives you choices — to change jobs, travel, handle emergencies, or seize new opportunities without worry. So if I could tell me 20 year old self one thing, it would be this, savings is about building towards the life you want. Start small, stay consistent and take advantage of every opportunity to make your money work for you.