Before you can decide how much money you want to save and which savings account is best suited to your financial circumstances, you need to make a in-depth record of all your outgoings and measure it against your income. Until this is done, you will not be able to make an inform decision.
WHAT IS THE NEXT STEP??
You can make your own budget planner on Microsoft Excel or simply download templates on the internet to record your information.
I recently opened a fixed-term savings account at 4% for the first 13 months with Santander.
The Banks and Building Societies are not offering very attractive rates, but it is imperative to lock some money away each month, especially for those rainy days.