Saving money

29 June, 2023

It’s a good idea for us all to be saving regularly where we can. Even if you can only put away a little at a time, it will add up, and your future self will be grateful. Every so often those big expenses come along and having some money saved makes it easier to deal with.

Sinking funds:

Sinking funds are for events or times of year that you know will be expensive. Saving means you can plan ahead for these times such as back to school, Christmas, birthdays, summer holidays.

Emergency fund:

An emergency fund is a financial cushion in case of emergency. If you can put some money aside for unexpected expenses such as unemployment, a broken-down car, or home repairs, then you might be able to avoid going into debt or having to take out a loan you can’t afford.

How to save:

You can save with your credit union, or open a savings account with any bank.

With PCU you can automate payments into your savings account by standing order, meaning you can save without even thinking about it. This can be perfect for those with a busy schedule! You can find out more about our savings accounts here.