UK Savings Week 18-25th September

UK Savings Week 18-25th September 

Saving - It all adds up to something good. 

When it comes to saving, UK Savings Week can help you find your ideal way to save, with hints and tips for making the most of your money. 

Why is it good to save? 

You can be ready for whatever may happen and have a cushion for unplanned events or emergencies. 

You can reach your goals and do what you want to do, whether that be getting a car or buying presents for Christmas. 

You can make more of life and pay for that qualification you’ve wanted to do or go on that holiday of a lifetime. 

Will you #takethesavingschallenge? 

Step 1: Set a savings target for each month and make that saving for 12 months. Take stock of what you have coming in each month, or week if that’s easier, and what you spend in a typical month. Tthen you’d be able to decide on how much you can afford to save comfortably.  

Step 2: Set up this amount as an automatic saving into an account. Many bank accounts these days have saving features in-app.  

Step 3: Reward yourself to keep up your motivation. Rewards don’t have to be big or complicated, keeping up motivation is vital in any new habit.  

Wants v Needs 

One part of savings is looking at what you want and what you need. Are there any extras you can do without? Sometimes it can help to have it all written down, a spending journal will make it simpler for you to see where your money is going and where savings can be made.  

Make sure you keep it real for you and make any targets achievable. Perhaps a visual reminder of what you are savings for can help keep you on track and encourage you to keep away from your favourite lunchtime treat, that you purchase, more out of habit, every day.  

It’s not all about cutting back and stopping treats… 

Maybe look around your home and see what isn’t used or needed anymore. Selling these items at your local car boot sale, or over social media or perhaps on online auction sites, are all ideal ways to declutter and add to that savings pot.  

Shop savvy on your bills – do you need all those extra subscriptions? Can you switch to a better phone provider, or energy supplier? Could you make your weekly food shop less costly by meal planning or looking around at other places to buy? Vouchers, cashback schemes, discount codes and are all another step to helping lower costs. 

Check out your workplace savings. Make sure when you are shopping you are utilizing the savings that are provided to you via the Hapi app that your employer has set up for you.  

By developing a savings habit and having a target in mind, whether that be a monetary target or a purchase you want to make, you can change your relationship with money. 

Get Support  

With the current cost of living crisis, you might not be in a position to save right now. If you do need help to manage your money, these organisations are ready to offer expert, impartial advice and resources. 

• MoneyHelper -  Free and impartial money and pensions guidance. Explore their cost of living guides here.  
• National Debtline - Get free expert advice and support you need on 0808 808 4000 
• Step Change -  Expert debt advice and fee-free debt management 0800 138 1111