I wish I could save like that...that's pretty close to my salary as it is (translated into dollars). I've heard great things about ING Direct savings accounts - my friend has one and is making a few dollars/month and I've been thinking about starting one of my own.
Well, not sure what differences there are in the UK, but here in the US I've heard great things about CDs (Certificate of Deposit) for short term investment. The idea is you put in a minimum amount, say, $10000 for 10 years, which gains decent interest (maybe...5% - dictated by the market). Unlike a traditional savings account, you can't just spend it at will. It's basically a beefed up savings account.
Mutual funds, are pools of money ("mutually" owned by many people) placed in stocks, bonds, and other investments and can make some excellent money, but have risks attached (risk can be low to high and everyone gets proportional dividends).
If you're looking at retirement savings - we have IRAs (Individual Retirement Accounts) in the US.
That's about all I know. Of course, this is all USA stuff, so I'm not sure if it's helpful or not.