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Cost of living: advice and guidance

Apex Housing Association | Northern Ireland

Home News stories Talk Money Week 2023 – Start saving in 2024

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Talk Money Week 2023 – Start saving in 2024

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It’s Talk Money Week and each day this week we’re featuring ‘one thing’ you can do to boost your financial wellbeing.  Saving money is often easier said than done but getting into the habit of saving in 2024 could mean less worry when something unexpected crops up.

Help to Save

Help to Save is a type of savings account.  It allows certain people entitled to Working Tax Credit or receiving Universal Credit to get a bonus of 50p for every £1 they save over 4 years. Help to Save is backed by the government so all savings in the scheme are secure.

For example, if you were able to save £25 per month for 2 years and didn’t withdraw any money, you would get a bonus of £300 after 2 years.

  • You can save between £1 and £50 each month
  • The maximum bonus is £600 after 2 years or £1,200 over 4 years
  • Money can be paid in by bank transfer, standing order or with a debit card
  • Contribute as often as you like but the monthly limit is £50
  • The bonus is paid at the end of the 2nd and 4th years

Am I eligible?

You can apply for a Help to Save account if you are:

  • receiving Working Tax Credit; or
  • entitled to Working Tax Credit, and receiving Child Tax Credit; or
  • claiming Universal Credit and earned a minimum of £722.45 in your last assessment period.


Visit the MoneyHelper website to find out more about the Help to Save scheme and to find answers to many Frequently Asked Questions (FAQs).

Save with a Credit Union

Credit unions are member-owned financial cooperatives that prioritise the financial wellbeing of their members over profit.

By saving with a credit union, you can access competitive interest rates on savings accounts and loans.  With a focus on financial inclusion, they provide a great alternative for those who may face challenges accessing mainstream banking services.

Even contributing a little each week or month may help, particularly coming up to the Christmas period or for unexpected expenses.  Credit unions provide an alternative to doorstep lenders and expensive alternative forms of credit.

Apex Welfare Advice Service

Our Welfare Advice Officers are here to provide you with advice, guidance or to resolve any problems you may have with budgeting, debt or applying for benefits.

Tel: 028 7130 4800
Email: welfareadvice@apex.org.uk

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