Let’s talk about money

Welcome to our first blog post covering all areas of finance. Our aim is to produce a friendly and easy-to-understand blog series, which explains some of the not-so-simple areas of finance.

As a Credit Union one of our core purposes is to offer financial education to members (alongside encouraging our members to save and offering affordable borrowing options). As a result, we want to talk about all things finance related, in the hope that our members can learn more about money and improve their own financial wellbeing.

We know money worries can be a source of stress, so we launched our “Let’s talk about money” campaign. The aim is to help everyone open up about money management and learn about how to manage their money better. We hope this will help people feel more confident to seek help if they are struggling with money worries. Over the coming weeks and months, we will be sharing money tips on social media, financial blog posts from our very own Marketing Team, and informative emails to help people learn.

We also want to make these blogs relatable to our members, by explaining things using real life examples. For example, according to Halifax, in 2020 the average mortgage deposit paid by UK first-time buyers was £57,278! Whilst in many areas you can get onto the property ladder with a deposit much less than this, if you were required to save this grand total and you saved £500 per month, it would take you 115 pay-days to reach this goal! This would take you just over 9 and a half years!

Statistics such as this may impact financial decisions you make in the short term, such as finance agreements, or how much to spend on your next car. It might also tempt you to start saving now rather than later, especially if your goal is to get onto the property ladder in the future.

We look forward to having you join us on this campaigns journey! Our future blog posts will all be posted here on our news page, and you can also subscribe to our fortnightly emails. You can find more about the campaign itself here: www.no1copperpot.com/lets-talk-about-money/