This week is UK Savings Week!

14 million people in the UK have less than £100 in emergency savings. That’s not enough to cope with many of the shocks life can throw at us. New research out this week for UK Savings Week shows the powerful impact of savings. Saving even small amounts has positive impacts on wellbeing, but this analysis shows those who are able to build up a savings pot of £2,000 have around 60% lower odds of falling behind with bills. The research maps out relationships between holding basic savings which might be used to cover short-term ups-and-downs, and longer term financial products. This leads to the development of a taxonomy of the stages of saving. Read the full report here

We are proud to support the Building Societies Association’s #UKSavingsWeek campaign because it recognises that everyone’s saving journey is different. Some are saving for a house or retirement but for the people we work with at Rooted Finance every day, the goal is often much simpler: to have a buffer for an unexpected bill or to feel a sense of control over their finances. The idea of saving can feel out of reach when you’re dealing with the pressure of debt. As a charity we are committed to financial inclusion for all, we believe that everyone, regardless of their circumstances, has the right to financial wellbeing.

Find our more on UK Savings Week