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Progressive’s Savings Champion Kevin Flannery talks about buying his first home and putting money into his annual holiday fund to mark UK Savings Week. He also shares some of his top tips on how to make your savings pot grow.
Progressive’s Savings Champion Kevin Flannery talks about buying his first home and putting money into his annual holiday fund to mark UK Savings Week.
He also shares some of his top tips on how to make your savings pot grow.
Q Are you a good or bad saver?
When I was young, I would say I was a bad saver. As I got older, however, I started to better understand the importance of saving, especially as I have a family and a home to look after.
I’m definitely a better saver now. I think it is important to have that financial security to fall back on, should you need to.
Q Do you have a dedicated savings account?
I have a number of savings accounts, which I use for different things. I like to separate out my savings for specific things as it gives me different goals to aim towards.
Q Do you have a special savings plan?
No, but what I have found is that you don’t have to be saving hundreds of pounds each month.
Putting away smaller amounts can make a big difference and it’s really motivating when you start to see that pot grow. It gives me peace of mind and makes me determined to keep it growing.
Q What’s the biggest item you’ve ever saved up for and bought?
My house. Getting onto the property ladder is not easy -and it took me a few years - but I managed to build up a savings pot which helped a lot when I wanted to buy my first home.
Accounts such as Progressives First Home Saver Account are ideal for deposit saving and, if you qualify, you can even get cash back if you take out a mortgage with Progressive so it’s a great savings product.
Q Are you saving up for anything in particular at the minute?
Next year’s holiday. I enjoy taking an annual trip with my family but it doesn’t come cheap so, each September, we start to save up a pot of funds that we can use towards our holiday the following year.
Q Share your top saving tips with us.
Save regularly – Even if it is a small amount.
Research the market for good rates – Interest Rates have increased over the past year and savers are now getting a much better return on their savings. For me, it’s important to maximise the return I’m getting on my savings.
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 11 branches. We look forward to hearing from you.