This year, Hertsavers Credit Union is excited to participate in #TalkMoney Week, an initiative encouraging individuals, stakeholders, partners, organisations, and businesses across the UK to inspire financial wellbeing by doing one thing. We believe that it’s the small steps that count, and we want to make some noise about it.
Our goal is simple: get everyone talking about money together.
1. Review your budget
Start with the basics by reviewing your budget. This is a small but powerful step in understanding your financial health. Take a closer look at your income and expenses to identify areas where you can save more.
2. Save automatically
Setting up automatic transfers from your checking account to a savings or investment account can make a significant difference. It’s an easy way to ensure you’re consistently saving for a rainy day or future goals.
3. Address your pension
Checking the address on your pension might sound minor, but it’s crucial. Ensuring that your pension information is up to date can prevent issues down the road and secure your financial future.
4. Talk to your children about money
Start financial education early by discussing pocket money and financial responsibility with your children. Teaching them good money habits from a young age can set them up for a more secure future.
5. Use financial tools and calculators
Take advantage of the free tools and calculators available on the MoneyHelper website. Whether you’re planning for retirement, managing debt, or setting savings goals, these tools can provide valuable insights.
6. Review subscriptions
Take a few minutes to go through your monthly subscriptions and cancel any that you no longer use or need. This can free up extra funds.
7. Shop with a list
Before going grocery shopping, create a shopping list and stick to it. This simple step can help you avoid impulse purchases and save money.
8. Negotiate bills
Contact your service providers, such as internet or cable companies, and negotiate for better rates. You might be able to lower your monthly bills.
9. Set up an emergency fund
If you don’t already have one, establish an emergency fund with a small initial contribution. Even a modest fund can provide peace of mind during unexpected financial challenges.
10. Sell unused items
Declutter your home and sell items you no longer need online or at a garage sale. The extra cash can be a great boost to your finances.
11. Plan meals
Plan your meals for the week, reducing the need for takeout or dining out. Cooking at home is not only cost-effective but often healthier too.
Why it matters
Talking about money may seem intimidating, but it’s essential. When we share our financial experiences, we make better decisions, strengthen relationships, and reduce stress. These small actions collectively create a financially educated and resilient community.
Financial wellbeing is about more than just money; it’s about peace of mind, opportunities, and security for yourself and your loved ones. By participating in #TalkMoney Week and doing one thing to improve your financial situation, you’re taking a meaningful step towards a brighter financial future.