Raising a cup to UK Savings Week- The Tipton

Teams at Tipton, Bilston, Coseley and Sedgley all showed their support for the annual event, inviting people to join them for a cuppa and an informal discussion about their savings needs.

UK Savings Week aims to give everyone the tools and confidence to feel more in control of their money.

It’s backed by most of the nation’s building societies and credit unions and at the Tipton we were proud to be involved.

Each branch put on a coffee morning for their customers and local shoppers, with colleagues on hand to offer tips and suggestions for building a regular savings habit.

Research commissioned by the Building Societies Association for UK Savings Week shows why savings are so important.

Almost a quarter of workers (22%) say money worries have affected their performance and one in five have taken time off due to financial stress.

Some 27% of adults have less than £1,000 in savings, while 12% have no savings at all. When asked, 21% felt they would be unable to cover an unexpected expense of £300 if they suddenly had to.

The Tipton’s Head of Retail Harjit Singh said: “The good news is that even a small amount of savings can make a difference, reducing anxiety and enabling us to deal with life’s shocks.

“People shouldn’t feel daunted by saving and will find plenty of help available if they’re not sure where to begin. It doesn’t need to be complicated and you don’t need a big lump sum to open your first savings account.

“We were delighted to welcome lots of people to our branches during UK Savings Week and kickstart these conversations in a relaxed and friendly way.”

For ideas, savings calculators and guidance on finding savings accounts that can make your money work harder, visit the UK Savings Week website, or head to our online savings pages.