Supporting your financial wellbeing in 2024

In this article, we aim to highlight some ways that you can take control of your financial wellbeing over the next twelve months.

With the flurry of Christmas and New Year’s celebrations over, many of us are feeling the strain from spending as we plan ahead for the rest of 2024.  

In this article, we aim to highlight some ways that you can take control of your financial wellbeing over the next twelve months.

Plan out your plans 

January is the time to pull out the new calendar you received at Christmas and get to planning.  
Start by marking out important dates so you know what big events are coming up. This should include birthdays, holidays, half-terms, and any other special occasions.  
With your year’s events planned out, start your monthly budgets. Start a budget now for each month and include Easter, August half-term, Black Friday and everything else in between. Make sure to include your regular monthly income, outgoings, extra spending and savings. 

By setting out your budget now, you can look ahead for potential deficits during the year where you may need support with an affordable loan from GWCU.  

You can apply for small amounts of credit through our Family Finance Plan or Flex@Work (exclusive to our Money@Work partners) or apply for a larger amount, up to £15,000.  

You can explore our range of loans here to find the right one for you, and if you have questions, please contact our lovely Member Services team 

Christmas in January 

With Christmas fresh in mind, now is the perfect time to save for your 2024 Christmas budget! 

Stay ahead of your spending by creating a strict budget using your experience from the last few months. There are a great variety of Christmas budget trackers that can help you plan your spending for each category- gifts, food, travel, etc. 

If you prefer an easier way to plan for Christmas, set up a Christmas Saver with Great Western Credit Union. Start your Christmas pot by setting up a standing order or signing up for payroll savings if you work for a Money@Work partner. By setting up automatic deductions, you can relax in the knowledge that you’re building up a healthy pot of money for the holidays.  

Earn while saving 

A great way to save is by setting up a high-interest savings account, which can be a great source of “passive income” where you earn extra money without doing any extra work! 

GWCU are now offering a 3.5% interest rate on our instant access Cash ISA. Not only is the interest tax-free, by saving with our Cash ISA, you’re helping more people in our community access affordable loans. 

Spread your costs 

The new year often calls for a new set of improvements. Whether it is personal development, career progression, or health and wellbeing. One consistent improvement we see our members focus on is their home or their car. Both are things that need constant upkeep and require time and money invested. If your goal this year is to work on upgrading, check out some of our past blog posts that can help you plan accordingly. 

Our lemon-free guide to buying a used car

Green upgrades for your home

Taking the efficient approach to home improvements


As always, we are here to help. Please do reach out if you have any questions or need any assistance with your loan or savings accounts and applications.  

We hope you have a wonderful 2024.  

Published by
Posted on
08 January 2024