7 Top Tips for Saving Money

7 Top Tips for Saving Money

The British cost-of-living crisis has been the most important issue this year and seems set to continue well into 2023.

At the NHS Credit Union, we understand the stress that money worries can cause for NHS staff and aim to do everything we can to assist our members and their families during this challenging time.

In this blog article, we want to explore some helpful habits you can develop to make your money work smarter, as well as things you can do to budget better and still enjoy the little luxuries.

Here are 7 top tips to help you save more money each month:


1. Cut non-essential monthly payments

One easy way to save money each month is to cut down the number of subscriptions or monthly payments you are tied into. Music and tv streaming have become everyday conveniences in many people’s lives. However, the urge to be on every platform can lead to several monthly subscriptions that, take a big bite out of your monthly budget for food and other essentials.

2. Cut back on credit card spending

While mortgage payments, essential direct debits, and credit arrangements must be paid, relying on credit cards for day-to-day purchases is not sustainable. Pause and ask yourself, if you can’t afford it this month, will you really be able to pay next month? Even if you split a large purchase over multiple payments, it will likely limit your monthly budget for essentials.

3. Follow the money-saving experts

It might sound obvious, but it’s worth keeping up to date with the latest money-saving advice from industry experts. The Money Saving Expert website has a wealth of resources and tips that are updated daily so you can always follow them for the most recent advice. They have fun challenges and budgeting goals that you can follow to make it easier to track your spending and save every month.

4. Join a savings advice community

You may also benefit from joining a forum or social media group dedicated to sharing savings tips. It helps to get advice from others making similar changes and you can share tips with them.

5. Check your benefits entitlement with the NHSCU benefits calculator

You may already have access to benefits, but it’s worth checking if there are others you are missing out on. Using our online benefits calculator can ensure you know exactly what you are entitled to receive and how to apply.

6. Make the most of workplace benefits and discounts

Cutting down on luxuries like takeaways every week is a key part of saving money. But you can still enjoy the occasional treat by taking advantage of workplace discounts and special offers. NHS credit union members have access to NHS staff benefits, like cheaper public transport, fast food meal deals, or retail discounts. The best way to find out which discounts and benefits you have access to is to visit your NHS board website, which will have links to NHS staff discounts and benefits resources.

7. Start an NHS savings account

As an NHS credit union member, you have access to a range of savings products to make it easier to save money every month straight from your salary. NHSCU provides access to fixed-term accounts like our Christmas Savings Account, which keeps your money locked away until you need it, reducing the temptation to spend early.


The Benefits of Saving with NHSCU

The NHS Credit Union offers savings accounts and affordable loans designed to help our members and their families manage their money smarter while saving for their future.

Membership is open to anyone who currently or previously worked for the NHS in Scotland and the North of England or has provided contractual services to the NHS, or lives with a credit union member. (Check our full eligibility criteria here).

Benefits* of our savings accounts and loan products include:

  • Membership for life.
  • Easy account setup.
  • Deposits can be taken directly through payroll deduction or direct debit.
  • All funds are protected by the FSCS scheme (up to £85,000).
  • Potential annual dividend.
  • Savings can be pledged as security against loans, and you can borrow from us while you save with no negative effect on your eligibility or credit score.


Members also have access to unique, free bereavement protection provided by the credit union for the family of members in the event of a loss – the Life Savings and Loan Protection Scheme. Which gives extra peace of mind to members and their families at no extra cost.

As a member of the NHS Credit Union, you can be confident that your money is always working in your best interest and that you are keeping your finances in great shape.

For a full list of benefits, read more on our site about the advantages of becoming a member.

*Terms and conditions apply


How to Join

Joining the NHS Credit Union is as easy as 1, 2, 3.

  1. Complete our online application form
  2. Make your initial deposit to open your NHS Credit Union account (min. £5)
  3. Download the Nivo app and login to begin managing your savings and loans


If you’re ready to set up a savings account or take out a loan with us, or just want to find out more about becoming a member, please get in touch.


Your NHS. Your credit union. Your money.


No Comments

Post A Comment