If you are saving for a big purchase like an iPad, tablet or new mobile phone it’s important to know what your goal is, how you are going to reach it and how long you think it will take.
How you save and where will depend on your individual circumstances, such as how much you are looking to save and whether you need to access your money at any time.
There are different ways you can start saving money. You could simply put loose change in a jar, or you could ask an adult to help you open a suitable bank account which are offered by most banks and building societies.
If your savings are more long term you could ask your parent/guardian to look at opening a Junior Individual Savings Account (‘JISA’) on your behalf. See our jargon buster for more info on Junior ISAs.
In most cases an adult will need to help you open a bank or savings account on your behalf. Once you have explored your options, and even if you find an account you can open for yourself, it’s a good idea to discuss this with your parent/guardian first.