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Northern Ireland Savings Week

From 9th-15th September was Progressive’s second annual Northern Ireland Savings Week! Savings Week is an initiative that we founded this time last year, with the aim of raising awareness amongst local people of the benefits and importance of saving on a regular basis.

We’ve had lots happening throughout the week on TV, radio, social media and in our branches such as hints and tips on how to save and make your money go further and engaging with local personalities and influencers to find out how they turn their pennies into pounds. Make sure you keep checking back here throughout the week for more exciting news and content!

Progressive's Savings Week Savings Toolkit

Whether it’s that trip of a lifetime you’ve always dreamt about, or the online shopping haul you’ve been waiting to click buy on, it pays to have some money put away. Saving doesn’t have to just be for a rainy day, it can help you to live your best life! Here are our top tips for saving throughout the year come rain or shine!

Could saving money help you reach your #goals?

Currently there are over 7 million uses of #goals on Instagram; that cocktail that looks delicious, that fitness influencer with perfect abs, or that holiday destination that’s just picture perfect. What are your real #goals?

 

Top tips for setting goals that you’ll achieve...

Living your best life can come with a cost, so it’s worthwhile to consider setting some financial goals as well. Whether your goals are short-term, long-term or for everything else that comes in between it is important to visualise exactly what it is you want to achieve.

Top tips for setting goals that you’ll achieve:

  • Writing down your goals and say them out loud (Why not use our financial goal tracker!)
  • Make your goals simple, e.g. ‘I will save £10 every week for my holiday’ or ‘by this time next year I will have saved £1,000’
  • Make sure your goals are personal, positive and of course manageable. If you create goals that are difficult to achieve, you’ll feel deflated when it doesn’t work out. 

Be honest with yourself – what do you really spend money on?

Tracking your finances for even just a week can provide significant insight into how much you are really spending.

Tools to help you track...

Plan, plan, plan

Creating a savings plan can be really useful when contemplating those much-needed treats such as a trip away with friends or that new car you’ve had your eye on. So, putting aside that all important spending money is going to get you closer to achieving those goals. A spending plan could be a good way to let you know when it’s time to cut back and when you can afford to spend that little bit extra and can be used throughout the year no matter what the occasion.

The all-important rainy-day fund

Your car breaks down or the washing machine gives up, imagine not having to panic about where the money is coming from to fix everything. According to the Consumer Council 42% of households in Northern Ireland don’t save their money for a rainy day. Getting into the habit of frequently putting aside money and creating an emergency fund can really help you avoid those “ARGHHH” moments.

Tools for an emergency...

  • Start small by saving the money you would normally spend on your takeaway latte before work, and you could save up to £640 a year.
  • Don’t discount the good old-fashioned piggy bank! Keep something (jam jar, money tin, or other!) beside your bed or on your desk so that you can pop in your loose change as you go along. Even as an adult, you can’t deny its exciting to empty out your money box and see how much you’ve saved!
  • Why not start 2020 by taking on the internet-famous 1p savings challenge, where you save 1p on Day 1, 2p Day 2, £1 on Day 100, and on Day 365 you put in £3.65. At the end of the year, you’ll have £667.95 in your jar! That could be your holiday for Summer 2021 sorted…

Finding a home for your savings

Once you have established your savings goals, it’s time to think about where to save your money. At Progressive, it’s safe to say we know a thing or two about saving - we have been helping our Members to save and find a place to call home for generations. View our savings accounts.

Progressive’s range of savings accounts...

  • Instant Access - Instant access accounts are a good option if you want to save but also want to have quick access to your money when needed.
  • Bonds - suitable for savers who do not need access to their savings and can invest a lump sum of money for a fixed period of time at a guaranteed or variable interest rate.
  • Cash ISAs - save without having to pay tax on the interest you earn.
  • Regular savers- encourage you to save for longer but with limited access to the funds. Suitable for savers who wish to invest on a monthly basis.
  • Children’s - start saving for your children’s future
  • Family Assist – opened as part of a Family Assist mortgage application.

Speak to our team today

We’d love to talk you through the mortgage process and help you find a suitable product. For more information or to apply for an account, you can call us, email us, pop into one of our 12 branches. We look forward to hearing from you.

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