Nearly a third of Brits (29 per cent) feel a ‘rainy day fund’ is outdated and would rather save for specific things to look forward to.
A poll of 2,000 adults, found 36 per cent adopt a "you can't take it with you" approach, preferring to spend their cash while they can, rather than putting it aside for emergencies.
And 34 per cent have a plan in place for how to spend their savings on a big-ticket item, with 67 per cent finding it rewarding to spend what they’ve saved.
While 42 per cent feel they work hard for their money and enjoy putting it towards something they really want, financial advisor and content creator Mr MoneyJar references this to be ‘saving for a sunny day’.
More than one in 10 (11 per cent) are planning to put their cash towards a memorable experience like a festival, concert or spa day.
Sean Morley, head of savings at Post Office [https://www.postoffice.co.uk/savings-accounts], which commissioned the research, said: “Attitudes to savings are changing, with more people placing emphasis on saving for the good times rather than for a ‘rainy day’.”
A poll of 2,000 adults, found 36 per cent adopt a "you can't take it with you" approach, preferring to spend their cash while they can, rather than putting it aside for emergencies.
And 34 per cent have a plan in place for how to spend their savings on a big-ticket item, with 67 per cent finding it rewarding to spend what they’ve saved.
While 42 per cent feel they work hard for their money and enjoy putting it towards something they really want, financial advisor and content creator Mr MoneyJar references this to be ‘saving for a sunny day’.
More than one in 10 (11 per cent) are planning to put their cash towards a memorable experience like a festival, concert or spa day.
Sean Morley, head of savings at Post Office [https://www.postoffice.co.uk/savings-accounts], which commissioned the research, said: “Attitudes to savings are changing, with more people placing emphasis on saving for the good times rather than for a ‘rainy day’.”
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FunTranscript
00:0042% of Brits take pride in working hard and saving for something special.
00:04Research from the post office found that saving for a sunny day
00:07for life's pleasures is becoming more popular.
00:10Here are my tips to get started.
00:12Get your bucket list down on paper.
00:14Whether that's travel, experiences, or just something you've always wanted,
00:18take 10 minutes to write down things you'd like to have or do
00:22and who you'd like to do them with.
00:24And if this involves family or friends, jot their names down too.
00:28Pick two to three things.
00:29From your sunny day bucket list,
00:31pick two to three things to save for over the next 12 months
00:34and how much they'll cost.
00:35Check travel sites for deals
00:37and check comparison sites to get the best prices.
00:41Set up a sunny day fund account.
00:43Set up a separate savings account for your sunny day calls.
00:46This helps to keep that money protected from impulse spending
00:49and also make sure to shop around to get the best interest rate.
00:52Save with others.
00:53If your sunny day plans involve friends or family,
00:56why not save together as a group?
00:57It's a lot more fun and you'll be able to keep each other on track.
01:01Plus, you'll have the buzz of achieving your goals together as a group.
01:05Saving doesn't always have to be about rainy days.
01:08It can also be about making those fun, sunny moments happen too.
01:12Start small, stay focused, and enjoy creating your own sunny day fund.