Saving Via Salary Deduction Scheme
Pay yourself first is a powerful concept to start saving. When you receive your salary each month with tax, pension and other deductions are already sorted out; you never distress about it. You know you paid your taxes, your pension is being sorted out and you received the net income into your account.
By this time, it's up to your budgeting skills. That's when it gets hard to manage if your skills are not developed. Understanding the prioritisation of bills, rent/mortgage, food, children, pocket money, social, transport of all kinds - a never ending expenses. The last thing on mind is saving.
When it comes to savings, we struggle with it for many reasons; the most common reason is that we end up spending the saving, if not spending the whole income. What's the best solution then?
Automation is the key studies show. To get into a habit, it takes a human-being around 66 days on average. Strong willed people take them few weeks, but some people may need 6 months, that is not a concern by itself, but it takes more effort and will to achieve it.
That's when the salary deduction solution comes in handy. CLEVR Money offers saving via salary deduction for free for both the employer and the employee to help more people to get into the habit of saving and may even start earning dividends.
Through the years, we have noticed that the savers have built this habit through automatic salary deduction. They always have access to their savings and of course that little extra money is there when needed, specially for emergency funding. It raised the confidence that they can save. Also, if they need to borrow, low interests loans are available with the condition that they continue saving
Does your employer have a partnership with us? If not, why not introduce the saving via salary deduction scheme? If your work place falls into postcodes FYs, PR1-PR9, PR25, PR26 and LA1-LA4, they are eligible to partner with us and you can start saving via salary deduction scheme.
Visit partners page for more information. If you have questions about it please email: suha@clevr.money.
You still can open a saving account with us anyway. Join us today and build your side kick saving habit.
