Start Saving From £2.5 Per Week

3 min read

How to get into the habit of saving with your local credit union, and why you should consider it. Saving money can feel like a big challenge, especially if you’re just starting out. But with the right tools and mindset, it can become a simple and rewarding habit. One great way to start saving is by joining a local credit union, like CLEVR Money. Credit unions are community-focused financial institutions that help people save and manage their money in a friendly and supportive way. Let’s break down how you can get into the habit of saving with CLEVR Money and why it’s a great choice.

Saving For a Purpose Determines...

What are you saving for, tells you how and where to save your money. That's fundamental.

Here are some common reasons people save for a purpose:

Short-Term Goals:

Saving for a new pair of shoes or a video game.
Putting money aside for a birthday gift or a fun day out with friends.
Building a small emergency fund for unexpected expenses, like replacing a broken phone.

Medium-Term Goals:

Saving for a school trip or a holiday.
Buying a bike, laptop, or other bigger items.
Building a larger emergency fund to cover several months of expenses.

Long-Term Goals:

Saving for education.
Putting money aside for a car or even a house in the future.
Building a retirement fund to ensure you have money when you’re older.

CLEVR Money is a local credit union. Unlike big banks, credit unions like CLEVR Money are not-for-profit organizations. This means they focus on helping their members rather than making profits. CLEVR Money offers savings accounts, loans, and other financial services to help people in the community manage their money better. Because they’re local, they understand the needs of their members and provide personalized support.

How to Save for a Purpose?

Choose Your Goal:

Decide what you’re saving for. Make sure it’s something that matters to you and is realistic. For example, if you want to save for a new phone, find out how much it costs and set that as your target.

Break It Down:

If your goal is big, break it into smaller steps. For example, if you want to save £200 for a new phone, you could aim to save £10 a week for 20 weeks.

Open a Savings Account:

Use a savings account, like the ones offered by CLEVR Money, to keep your money safe and separate from your spending money. This helps you avoid the temptation to spend it.

Track Your Progress:

Keep an eye on how much you’ve saved and how close you are to your goal. CLEVR Money provides tools to help you do this, so you can see your progress and stay motivated.

Stay Consistent:

Even if you can only save a small amount each week, consistency is key. Over time, those small amounts will add up, and you’ll reach your goal.

Why CLEVR Money is Great for Saving with a Purpose

CLEVR Money makes it easy to save for a purpose. We offer savings accounts with tools to keep you away from withdrawal temptation, which means your money grow over time. We also provide tools and support to help you set goals, track your progress, and stay motivated.

Saving for a purpose is all about knowing why you’re saving and staying focused on your goal. Whether it’s something small like a new pair of shoes or something big like a car, having a clear purpose makes saving easier and more rewarding. With the help of CLEVR Money, you can start saving for your goals today and take control of your financial future. Remember, every little bit counts, and with a clear purpose, you’ll be amazed at what you can achieve!