Are you ready for a summer of saving?

33% of Brits have been putting their money away for a holiday or travel, according to our “Sunny Day Savings” survey.

Of all the 2,000 UK adults asked, 34% (rising to 42% amongst Boomers) have used their money for holidays in the past 12 months – so being a savvy saver could really pay off when you’re ready for your next adventure!

Other planned goals mentioned by our respondents focused on retirement (21%) home renovations (18%), funding their own education (5%) and giving generously, with people choosing to host a celebration (7%), give gifts to others (20%), set money aside for their children (12%) or donate to charity (10%).

Could your savings also help you prepare for rainy days?

Although it’s great to focus on stacking up your cash for sunny days, unexpected costs can also arise, so it’s worth considering using your finances to prepare for rainy days.

Brits have said that they’re using their funds to pay for home repairs (28%), bill rises (24%), car repairs (23%), family emergencies (21%), medical emergencies (18%), job loss (17%) and pet costs (14%).

The biggest unexpected cost our rainy day savers faced was due to job loss or reduced income with an average financial impact of around £373. That’s an amount many would struggle to cover at short notice.

You could be ready for any situation with the support of your finances, and we found that 49% of people agreed that a balanced approach is best as they aimed to cover both expected and unexpected costs.

Do you want to feel more at ease?

Saving isn’t just about covering emergencies, it can also give you the freedom to enjoy life’s positive moments. When we asked Brits what motivates them to save for things they look forward to, 37% said it’s the peace of mind that comes with being financially prepared.

And 56% said they feel anxious if they don’t have the cushion of money, experiencing stress even when they’re not currently dealing with an unexpected cost.

Not only could you achieve your goals, but you could sit back and relax knowing that you’ve got peace of mind as you’ve organised your finances for potential rainy days too.

Have you tried saving regularly?

When it comes to preparation, 30% find it hard to put away money at all. But instead of seeing saving as a hurdle, you could join the 56% of people who make saving a consistent habit regardless of their current situation or future plans.

Even if you’re saving little and often, this could be enough to make you feel like a successful saver. In fact, 69% feel more in control of their finances when they’re contributing to their savings regularly.

Ready to take the next step?

If you’d like to feel more prepared for whatever life throws your way — whether it’s an exciting opportunity or an unexpected expense — we’re here to help you save.

Take a moment to explore our range of savings products, including easy access and fixed rate options, designed to give you peace of mind and help you plan with confidence.

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