Your savings are there for when you need them.
Whether it’s an unexpected bill, something for the family, a planned purchase or simply a month where your money needs to stretch a little further, there will naturally be times when you need to make a withdrawal.
But when you do, could you keep a little back?
We want to encourage our members to build a savings habit that works for them. That doesn’t mean saving large amounts or never touching the money you’ve put away.
It’s about saving what you can, using it when you need it and, where possible, keeping something aside for another day.
When making a withdrawal, it can be tempting to take your full savings balance. But if you don’t need all of it, consider leaving a little behind.
For example:
Whatever your balance, keeping something in your savings means you’re not starting again from £0.
There will, of course, be times when you genuinely need to use everything you have saved – and that’s exactly why your savings are there. But when you have the choice, keeping a little back can help you maintain the progress you’ve already made.
You don’t need to save a large amount every month to start building your savings.
Even £3 a week is a start.
That’s around £12 a month and more than £150 over the course of a year.
If you can comfortably afford more, that’s great. If you can only manage a small amount, that matters too.
The aim is to find an amount that works alongside your other financial commitments and that you can realistically keep up with.
It’s not about how much you save. It’s about creating a savings rhythm that works for you.
Saving isn’t always about watching your balance continuously increase.
You might save for several months, need to withdraw some of it and then start building it back up again. That’s a normal part of having savings.
What matters is getting back into the habit when you can.
If you need to withdraw this month, could you start putting £3 a week back in next month? Or set aside a small amount each payday?
Over time, those regular contributions can help rebuild what you’ve used and prepare you for the next time you need your savings.
One of the benefits of regularly putting money aside is having something to fall back on when an unexpected cost comes along.
It could be a broken appliance, car repairs, school costs, an unexpected journey or something else you hadn’t planned for.
Having even a small amount already set aside can help.
And your rainy day fund doesn’t need to appear overnight. It can be built gradually, a few pounds at a time.
Then keep adding to it when you can.
Withdraw what you need. Save what you can. Keep building over time.
