Wellbeing Guide from Police Mutual Lets Talk Money – Savings Guide – August 2025
Some reasons to save may be for emergencies, for short term purchases and for longer term aspirations. It’s therefore worth thinking about getting into the habit of saving regularly. You are more likely to stick to savings if you keep your saving goals in mind. Once you’ve decided on your savings goals you can then look at the timeframe for each of them and how much you can initially afford to save. Work out what you already have, your monthly income, monthly outgoings and any large expenses you have coming up in the future. A monthly budget is a vital step towards improving financial fitness and the foundation of your action plan. Our budget calculator can help with this. A few hours spent working out where your money is going could make a big difference in helping to reduce the chances of you going into your overdraft and, instead allow you to maximise the amount you can save. The secret to success with sticking to a budget is to regularly give it attention. Understanding your income and outgoings can reduce your stress and help you maximise your savings.
Read more from the Savings wellbeing guide HERE