Last week, we celebrated Talk Money Week – a time to encourage everyone to have open conversations about money. We know that thinking and talking about money can be worrying, but taking control and making some small changes can make a big difference.
This year, our theme is simple: ‘Do One Thing’ to improve your finances. Small, productive actions can add up and have a big impact over time. Here are a few ideas for how you can get started:
Save money on your energy bill
With energy costs at an all-time high, small changes can lead to big savings. Here’s some examples of one thing you could do to lower your energy bill:
• Switch off appliances on standby mode – You could save up to £45 a year by turning off devices that are not in use, such as your TV. Remember to unplug the toaster after breakfast!
• Be more efficient with laundry – Washing at a lower temperature and cutting out one wash a week could save up to £24 each year.
• Boil only what you need – Avoid overfilling the kettle and reduce your power usage next time you make a cuppa.
Organise or boost your pension
Planning for the future can feel overwhelming, but even small steps can make a big difference. You may want to do one thing to boost or organise your pension, for example:
• List your former workplaces – Track down all your old pensions to see what you’ve built up.
• Book a free pension consultation – Get expert advice with Pension Wise to make the most of your retirement savings.
Check if you are eligible for Universal Credit
Universal Credit supports people on low income, and you don’t have to be unemployed to qualify.
Find out more and check your eligibility here.
Set your kids up for a secure financial future
Teaching kids about money early on can build strong financial habits. Here are some ideas for one thing you can do to help:
• Opening a Child Trust Fund or Junior ISA – Help grow your child’s savings with a tax-free account.
• Talking about budgeting – Teach your kids how to plan their spending and save for what they want.
• Including them in everyday money decisions – Let them help with budgeting for groceries or small purchases.
Every small step makes a big difference in building their financial future!
Improve your budgeting
Better budgeting can transform how you manage your money. Here’s how it can help:
• Take control of your spending – Know exactly where your money goes each month. Your bank may offer an app which can do this for you in an easy, visual way.
• Encourage savings and reduce debt – Plan ahead to reach your financial goals
• Reduce stress – Gain peace of mind by staying on top of your finances
If you’d like to do one thing to improve your budgeting, you may want to start using a budgeting planner. Check out our budgeting tool and take the first step to a less stressful financial future.
Learn more
If you’d like to explore other types of financial support, visit us here. If you are worried about paying your rent or service charge, do not struggle in silence. Our financial support team can help find the best options to get you back on your feet and in control again.
We hope Talk Money Week has inspired you to take small steps towards a healthier financial future. Remember, doing just one thing can make a big difference!