It’s that time of year again; we’re all on a health kick and everyone’s pockets are tight. January is the perfect time to set some goals for the year ahead, particularly when it comes to making the most of your money.
A study by the Money Advice Service (MAS) found that more than 16 million people in the UK have less than £100 in their savings*, so, why not make saving money your New Year’s Resolution?
We spoke to Head of Retail at Marsden Building Society, Philippa Farebrother-Dunn about making small changes that will help you grow your savings in 2019.
1. Write down your saving goals
Having something to look forward to is a great way to motivate you to save money. Whether it’s your dream car, the holiday of a lifetime or some extra spending money at Christmas, focus on something exciting to motivate you and work out how much you need to put away each month to achieve your goal
2. Set yourself achievable targets
How many times have you gone into the New Year making unrealistic targets and undoing them all before the month is over? By setting realistic targets, you’re more likely to succeed and be more motivated when you do succeed. Keep an eye out for accounts that will encourage a savings style that will suit you, whether that’s saving little and often or fixing a larger sum of money. Think about what you need to achieve and which accounts will help you get to your goal. Our members find that a Branch Regular Saver is a great way to save a little each month across the year.
3. Set up a direct debit
Save yourself the time and effort by setting up direct debits to your chosen savings accounts, so that your bank account does the work for you! Decide how much you want to put away each month and watch your savings grow without having to lift a finger!
4. Find out more on your local High Street
Our friendly branch teams are always on hand to discuss your options and help you choose the best option for you. We have branches in Barrowford, Burnley, Clitheroe, Colne, Lytham, Garstang, Poulton and Nelson or our Savings Team are available on 01282 440500.
For more information on our savings accounts, visit www.themarsden.co.uk/savings or talk to a member of our team on 01282 440500.