Making just one small, change can have a big impact on your financial wellbeing. With everything from unexpected expenses to rising costs, taking control of your finances might feel challenging—but even the smallest steps can make a difference. Here are some easy “one thing” actions to help you get started
1. Automate savings
If saving feels like a struggle, automating it can be a game changer. Setting up an automatic transfer from your pay check to a separate savings account means you’ll be saving without even thinking about it. Whether it’s for a holiday, emergencies, or special occasions, automated savings help you build a financial cushion effortlessly. (Good news- if you’re already a member of The Money Co-op, you’re already doing this!).
2. Review your budget
Even if you’re not a fan of budgeting, a quick review of your regular expenses can be eye-opening. Use the Budget Planner tool here on our website and see if there’s anything you could adjust or cut back on. This small habit can help you take control of your spending and identify areas where you could be saving instead.
3. Set up a “Rainy Day” pot
Life happens, and having a small emergency fund for unexpected expenses can help you avoid stress when the unexpected pops up. Aim to save just a little each month to build this fund. Even £10 a month can add up and give you peace of mind for those “just in case” moments. Here’s how to set up dedicated savings pots with us, or change the amount you save each month.
4. Cancel old Direct Debits and subscriptions
Could you be paying for things we you longer use? Take a few minutes to review your direct debits and subscriptions, and cancel anything that you no longer require. This simple action could free up cash each month for something you really do need or want, or extra funds which could go to your savings.
5. Check in on your financial goals
Whether it’s saving for a house, a holiday, or just managing daily expenses better, setting financial goals helps keep you on track. Break big goals into smaller steps, and start with one achievable target this week. The Savings Calculator here on our website is a great way to start your plan of action.
6. Consider an affordable loan instead of high-Interest credit
If you have upcoming expenses you need to cover, consider exploring affordable loan options with lower interest rates than traditional credit sources, like credit cards or payday borrowing. We’re proud to offer ethical loans designed to help our members with exactly these types of needs without high fees or excessive interest. Find out more about borrowing with us.
7. Plan for seasonal expenses early
Expenses like Christmas or holiday travel can take a big bite out of your budget if you don’t plan ahead. Start setting aside a small amount each payday toward seasonal expenses—it’s less stressful and makes those special occasions even more enjoyable.
“Do One Thing” – The Money Co-op is here to help
Sometimes, one small change can make a world of difference. Whether it’s automating your savings, setting a budget, or exploring options for affordable loans, start with “one thing” that works for you and watch your confidence grow.
If you’re looking for simple ways to make saving and budgeting easier, we’re by your side. With savings options, affordable loans, and support focused on financial wellbeing, The Money Co-op is here to help you reach your goals, one step at a time.
Not a member yet? Join today here
