The Safe And Easy Way To Kick Start Ketosis—And Why You Should

By Sylvia Morris For The Daily Mail

Published: 17:39 EDT, 1 January 2019 | Updated: 04:56 EDT, 2 January 2019





A new year is the perfect time to start a regular savings habit.

Saving money each month will help you build up a nest egg to protect against financial shocks.

It is also a good way to spread the cost of expensive purchases such as holidays.

Regular savings accounts with banks and building societies pay far higher rates than easy access deals — which will help your pot grow faster.

Saving money each month will help you build up a nest egg to protect against financial shocks

Saving money each month will help you build up a nest egg to protect against financial shocks

However, you must be realistic about how much you can afford to save each month.

One in ten savers who planned to put money aside regularly last year gave up after just one month, according to research by Britain’s fifth largest building society, Leeds BS. Four out of ten had quit by the middle of the year.


Share this article



The danger here is that some regular savings deals will slash your rate to a pittance if you need to access your cash before the end of the year.

Remember that with regular savings deals you only earn interest once the money hits your account. So if you save £100 a month for a year, your first payment will earn interest for 12 months but your final £100 will see just one month’s worth of interest.

To get an idea of how much to expect after a year, tot up the amount you hope to save. Then divide your interest rate by two and apply this figure to your total yearly savings.

Some accounts will let you dip into your savings during the year and continue earning the same rate of interest.

For example, Virgin Money Regular Saver, available through its branches, pays a fixed rate of 3 per cent on up to £250 a month.

You can take money out at any time without losing the 3 per cent rate. With a £100 monthly saving you’ll end up with £1,218, including £18 interest. Saffron BS’s Regular Saver is similar and pays a slightly higher 3.5 per cent. 

On each £100 a month, you’ll build up £1,222 including £22 interest. You could get a better return with your current account provider — but they are usually less flexible because you can’t touch your money unless you shut the account and you’ll lose the premium rate.

First Direct Regular Saver, available to its 1st Account holders, pays 5 per cent on sums between £25 and £300. A £100-a-month saving will be worth £1,232 after a year including interest. 

Marks & Spencer’s Bank offers a similar deal, also at 5 per cent, on up to £250 a month. 

At HSBC you will earn 3 per cent or 5 per cent depending on which current account you have. 

At Santander the rate is 3 per cent and differs in that you can take money out during the year without being penalised.

Halifax Regular Saver is open to all customers rather than just its current account holders, and pays 2 per cent.

Nationwide’s Flex Regular Online Saver pays 5 per cent. The rate is variable — so can change at any time — but it does let you take money out if you need to.

EDITOR'S DEALS OF THE WEEK >Fixed rate savings logo
Fixed rate savings Five-year fixed rate savings account 2.68% interest > Free fund dealing logo
Free fund dealing Investment ideas with Wealth 50 Most popular DIY platform >Current account logo
Currrent account Pays £150 cash to switch 2% cashback on bills >Credit card logo
Credit card Membership Rewards worth 10,000 Avios 22.9% APR >Savings account RCI Bank
Savings account Market leading easy access cash Isa deal 1.45% interest
For current account rewards and interest conditions may apply eg. using provider's full switching service, min deposits and direct debits. For savings, access maybe limited, min/max deposits may apply. See T&Cs.

Representative example: If you spend £1,200 at a purchase interest rate of 18.95% p.a. (variable) your representative rate will be 18.9% APR (variable).


Source :

Kick off the new year with a savings habit: Our guide to picking the right account and working out what you can afford
The Safe and Easy Way to Kick-Start Ketosis—And Why You Should
20 of the Biggest Money No-Nos, According to Suze Orman
10 Habits You Didn’t Realize Are Actually Dangerous for Your Health
Um, Do You Actually Need to Wash Your Feet?
How to Kick Start Your Startup
A Solo Traveler’s Guide on How to Meet People While Traveling
‘Into the Badlands’ Showrunner on Season Finale: ‘There Is No Easy Way Out’
Spencer Pratt Is Ready to Kick Alex Out of the ‘Siesta Key’ Tiki Bar After Last Night’s Dramatic Episode
How to Kick Your Clutter Habit and Live in a Clean House Once and For All