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Kevin Flannery Savings Week 2022 Blog

Savings Week is a week-long recognition of the importance of saving and helping to support people on the journey towards financial wellbeing.

Kevin Flannery Savings Champion

Savings Week is a week-long recognition of the importance of saving and helping to support people on the journey towards financial wellbeing.

Working closely with The Consumer Council and Action Mental Health, Savings Week is an opportunity for us to highlight the close link between financial health and emotional wellbeing, which we know is strongly felt today with the financial burden many people face this winter.

When we first launched Savings Week in 2018, our goal at Progressive Building Society was to support a savings culture across local communities, helping to cement the practice of putting money aside and to provide people with savings tools and advice that can support their financial management in the months and years ahead.

Tell us about the theme of this year’s campaign…

Savings Week 2022 arrives at a challenging time for many people and families. Right now, household budgets are under pressure, and that can have a real knock-on effect on the ability to save.

This year, we’re focusing on the everyday savings, helping people to cut back a little where they are able to do so, whether it’s small lifestyle swaps like public transport three days per week, or using ready-made tools to draught-proof doors and windows in preparation for the colder months ahead. 

It’s these small everyday savings that can go a long way towards a rainy-day fund, or other important daily and milestone events. We see Northern Ireland Savings Week as a chance to develop positive savings habits and support those who may not be able to put money aside but can instead make small changes and grasp a firmer grip on their finances.

What are your best tips for saving?

A little really does go a long way. Even if it’s not the direct act of putting money away, cutting back a little on everyday expenditures can help lower your bills and free up a pocket of money that would have otherwise been out of reach.

Focus first on the smaller, short-term swaps, and soon it will build gradually over the longer term. A savings pot, no matter how small, can bring with it reassurance and financial peace of mind, which we know can have such a positive impact on mental health and wellbeing in the longer term.

When is the best time to start saving?

It’s never too late to start. At Progressive, we’re passionate about saving small and often, and want to instil the importance of investing in financial wellbeing both in our members and people across Northern Ireland.

As a father of two young children, encouraging this ‘small and often’ savings approach is important to me. Also, saving from a young age can encourage young people to continue saving into teenage years and adulthood when they can see that pot growing each month.

What support is available for people who may be struggling to save?

Part of this year’s campaign is to highlight just how important it is to invest in your financial wellbeing.

Our Savings Week hub features a one-stop guide developed in partnership with Consumer Council and Action Mental Health, bringing budgeting tools and everyday savings tips, along with advice and insights into financial wellbeing, all in to one online resource. 

If you are experiencing financial anxiety or money worries, take some time to visit the Action Mental Health website to see just how they can support you.

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