Follow these 5 tips to create habits that can boost savings and bolster your money management.

Whatever stage your family unit is at, you should be a financially aware family

When it comes to spending, saving and balancing the household books, grasping the value of money is something which has to be learned.

The chances are you’ve already taken steps to protect your property, whether it’s your home and its contents or your mobile phone. Yet what about your greatest asset, YOU and your earning power.

Do your thoughts ever ponder what you might want to do when you retire? How much money will you really need to be able to tick dreams off your bucket list and live a comfortable life?

One million people have opened a Help to Buy: ISA to help them onto the housing ladder when they buy their first home. What’s in it for you?

Basic rate taxpayers in the UK can earn up to £1,000 of interest on their savings accounts completely tax-free. This is your Personal Savings Allowance, or PSA. The limit depends on earnings though, and higher-rate tax payers can earn up to £500 interest before having to pay tax.

It’s inevitable that there will come a time when you can't work any more but still need an income. Even if that seems a long way off, when you're saving for your future the earlier you start the more flexible your retirement options will be.

It can seem difficult to make saving a priority when prices seem to keep on rising and there are regular bills. But you’d be surprised where you can rein in your spending – and how little you need to set aside to watch your savings start to grow.

You may want to set aside income yourself for your children's education - and the earlier you can start, the better, as it gives the savings time to grow.