Easy Ways to Save Money for Bad Days: Your Guide to Being Ready

Bad things can happen to anyone. Your washing machine might break. Your car might stop working. You might lose your job. When these things happen, you need money to fix them.

This is why you need to save money for bad days. We call this an "emergency fund." It's like having a piggy bank for grown-ups.

Why Save Money for Bad Days?

An emergency fund is money you keep safe for when something goes wrong. It helps you pay for things like:

• Fixing your car
• Buying a new washing machine
• Paying bills when you can't work
• Going to the doctor

Money experts say you should save enough money to pay your bills for 3 to 6 months. But even £500 can help a lot. The most important thing is to start saving now.

How to Start Saving Money

1. Start Small You don't need to save lots of money at once. Save just a little bit each week. Maybe £5. Maybe £2. Every penny counts.

2. Make It Automatic Ask your bank to move money from your main account to your savings account every time you get paid. This way, you won't forget to save.

3. Use Extra Money Sometimes you get extra money. Like birthday money or money back from the tax office. Put this straight into your emergency savings.

4. Spend Less on Some Things Look at what you spend money on each month. Can you:

• Cancel TV channels you don't watch?
• Make coffee at home instead of buying it?
• Use coupons at the shop?

Put the money you save straight into your emergency fund.

5. Save Your Change Some bank apps can help you save. Every time you buy something, they round up to the next pound. The extra money goes into savings. So if you spend £4.20, they take £5 and save 80p for you.

6. Save More When You Can When you get more money (like a pay rise), save some of it. Even if it's just a little bit more each month.

How Sheffield Credit Union Can Help

Sheffield Credit Union wants to help you save money. We have different ways to save:

Easy Savings Account

• You can put in as little as £1
• You can take money out when you need it
• No fees for taking money out

Special Accounts

• Christmas Saver: Save money all year for Christmas
• Bill Account: Keep money safe to pay your bills
• Children's Account: Teach kids to save

Save While You Borrow This is special. If you borrow money from us, you also save money at the same time. When you finish paying back the loan, you have savings too!

We Keep Your Money Safe Your money is protected. This means even if something bad happens to the credit union, you will get your money back.

Tips to Keep Your Emergency Fund Safe

• Only use this money for real emergencies
• If you use some money, start saving again straight away
• Set a new goal each year
• Tell a friend or family member about your goal - they can help you stick to it

Start Today

You don't need to earn lots of money to start saving. You just need to start. Sheffield Credit Union is here to help you save your money and cheer you on.

Come and talk to us about opening a savings account. We can help you make a plan that works for you. Together, we can help you be ready for whatever happens.