Encouraging saving
Saving money can be difficult, especially if you’re trying to balance your budgets. According to The Money Charity, in October 2022 approximately 35% of adults either had no savings or less than £1,500 in savings. This is why we want to encourage our members to grow their savings each month.Â
You can use our Budget Planner to work out how much you could be saving each month. Whether you’re putting money aside for a holiday, starting to save for Christmas or simply being prepared for an unexpected cost (e.g. car repairs), savings are important.Â
At No1 CopperPot we encourage all of our members to save. Check out some of the the savings accounts we offer below!
Member Account
This easy access savings account can help you to save regularly which will support you in building your financial resilience. You could join today by saving as little as £5 per month.
Open a Member AccountReserve Account
An additional account which can be held alongside our Member Account meaning you will save into both accounts each month, allowing you to save for different purposes.
Open a Reserve AccountNotice Plus Account
Earn a higher dividend rate, by agreeing to give us at least 90 days’ notice before you make a withdrawal
Open a Notice Plus AccountJunior Account
Save for your child’s future and encourage them to save with our Junior account.
Open a Junior AccountHow much can you be saving?
Our members save regularly for a variety of different things. Below is a table which illustrates the how much you could expect to save given the different amounts. What are you saving for?
What are you saving for? | How much are you saving? | Year 1 | Year 3 | Year 5 |
Rainy day fund | £10 | £120 | £360 | £600 |
Christmas | £30 | £360 | £1,080 | £1,800 |
Holiday | £100 | £1,200 | £3,600 | £6,000 |
House deposit | £250 | £3,000 | £9,000 | £15,000 |
Top tips to save you money
Cheaper prescriptions and medications
There are a whole host of ways to cut the cost of medicines without compromising on their quality. From getting prescription ‘season tickets’ to buying generic products (e.g. Asda Paracetamol) rather than big-name brands, you can make sure you’re saving money where you can. Prescriptions in England are £9.35 per item, but you could be entitled to free prescriptions. Check if you are eligible on the NHS website here. It could also be cheaper for you to look at a Prescription Prepayment Certificate (PPC). Click here to see if you could save.
Saving money when getting married
It’s possible to have your dream wedding without breaking the bank. This article is full of top tips on getting value for money on your big day, so you don’t spend the rest of your married life paying for it. Click here to find out more.
Be mobile smart and save
It can be worth shopping around before tying yourself into a lengthy contract for a mobile phone. There are plenty of mobile comparison sites available where you can check which network is offering the best deal for you. Another great way to save is by moving to a sim-only plan once your current contract expires, but keep the same handset. You can pick up some great deals from just £5/month! Finally, say no to premium rate numbers! Answering a phone call where the phone number begins with one of the prefixes 09, 118, 0871, 0872 or 0873 are actually more like premium rates, costing anything up to £3.60/minute!
Save on entertainment
There are various sites where you can get discounts on things such as cinema tickets and weekend getaways. It is always worth doing your research before paying full price. Some commonly used platforms are Groupon, Wowcher and ItIsOn. You may also get discounts and benefits from your mobile phone provider, so visit their website to see what you can get.
Get debt free!
The longer you have outstanding debts, whether in the form of loans, credit cards or finance agreements, the more interest you will be charged. The sooner you clear your debts, the more money you will save in interest payments! You could also save money by consolidating your debts into a single repayment. This is a popular product with our members and you can find out more here.