New Year, New You? – Fresh ways to build your savings

Join us as we provide some fresh tips on saving, kicking off your happy new year

The start of a new year is a good time for many of us to adopt new, positive habits. Whether we have a news resolution that we wish to fulfil, or if we have other fulfilments, the start of a new year is a great time to set up some savings goals, or even undertake a financial health check. Join us as we provide some fresh tips on saving, kicking off your happy new year.

  • Refreshing your budget plan

    Checking up on your existing budget plan is a great way to kick off the new year. It might be the case that you set your spending budget several months ago, and as we all know, situations can change quickly. It’s always a good idea to open your budget and consider if it’s still meeting your needs. Using our budget planner is a great way to work out how much you can save before accounting for your expenditure. You can find the budget planner here.

  • Consider paying yourself first

    The best way to guarantee that you save each month is to commit to depositing your savings before paying your other expenditure. Even if it is a small amount at first, committing to paying yourself first is a great way to ensure that you build your financial resilience, for a brighter financial future.

  • Plug up holes in your budget

    One of the biggest barriers to saving are the little costs, which in the grand scheme of things really add up. For instance, direct debits for streaming sites, recurring standing orders for phone applications, gym memberships and even unused insurance policies that are no longer needed. These costs stack up, it’s certainly worth having a look over your bank statements and working out which ones can stay, and which ones can go.

  • Save more, straight from your pay!

    Being part of Serve and Protect CU gives you the opportunity, where applicable, to make savings contributions directly from your pay. This ensures that you pay yourself first, every month. The best part about saving straight from your pay is that you can start with as little as £10 per month, with the option to change that amount anytime. This means that if you decide to increase your savings contribution, you’ll be on your way to ensuring a stronger financial future.  

Prepare for the future

Preparing for your financial future is important, as unexpected costs can occur for all of us. Having some money set aside to reduce the pressure of these costs can help to relieve stress and enable you to have a fulfilling service career. Why not learn more about how you can start saving with Serve and Protect CU today via: www.serveandprotectcu.co.uk/save

  • The information provided in this article is for guidance and educational purposes only. Police Credit Union Ltd. does not offer regulated financial advice. Please seek independent financial advice.

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