Why is it such a good idea to get into the habit of saving?
Putting aside money is an important first step in planning for the future. It provides something to fall back on when the unexpected happens and helps give peace of mind.
A savings habit, makes it
- easier to cope with annual events, like car servicing.
- cheaper to pay annual bills, like insurance, up front than to choose the monthly payment alternative.
- practical to plan for many things you want, like a holiday or a celebration.
- simple to cope with small disasters, like a broken fridge.
We can help get into a savings habit, putting some money away regularly, however small the amount. This way you build your financial resilience. And after saving for a while, when you need to borrow, you will be eligible for a loyalty loan at a lower rate of interest.