UK Savings Week
Savings Basics
Savings can seem complicated but it doesn’t have to be. It’s like learning a new game – it might be hard at first, but you’ll get the hang of it. We’re here to show you the ropes and make it easy-peasy.
Things are tough for lots of people right now, so don’t worry if you can’t save money just yet. If you need help with your money, there are special people who can give you clever tips and ideas.
Your First Steps To Saving
- Look at your money
- Think about what money you have coming in and what you spend. Knowing how much you have to live off each week or month will help you understand what you have to save.
- Need vs. Want
- Some things are really important, like food and clothes. These are your needs. Other things, like toys or games, are fun but not totally necessary. These are your wants. It’s okay to have wants, but it’s important to know the difference.
- Don’t worry, be happy!
- Thinking about money can be tricky, but don’t stress out. You’re taking a big step by learning about it.
Setting Goals
- Start small
- Saving even a little bit is better than nothing. Every penny counts!
- Be honest with yourself
- It’s okay if you can’t save as much as you’d like right away. Progress is more important than perfection.
- Pick a goal
- Decide what you’re saving for. Having something to aim for helps you stay motivated.
- Make a plan
- Figure out how much you can save each week or month. A plan keeps you on track.
- Save regularly
- Try to put money aside at the same time each week or month. This becomes a habit.
- Don’t give up
- There might be times when you can’t save as much. That’s okay! Just keep going.
Deal With Temptations
- Identify your triggers
- Figure out what makes you want to spend money.
- Create a plan
- Decide how you’ll handle temptations, like waiting 24 hours before buying something.
- Find alternatives
- Look for free or low-cost activities instead of spending money.
- Reward yourself
- Treat yourself for sticking to your plan to stay motivated.
- Don’t beat yourself up
- Everyone makes mistakes. Learn from them and move on.
How NLCU Can Help you
- You can start saving with as little as £1
- Access to our goal savings account to help push you to achieve your financial goals
- We’re here to support you whenever you need it It’s easy to set up, and alter, a regular amount to deposit in your savings account
- If you work for one of our Payroll Partners, your savings can come straight from your salary
- With our handy mobile app, you’ll be able to keep track of your savings and request a withdrawal 24 hours a day
Join our community and benefit from a
more financially stable future
