Make Your Child Benefit Work Harder for You: Saving, Planning and Preparing for Christmas

For many families, Child Benefit is an important part of managing the household budget. But have you considered having your Child Benefit paid directly into your Gateway Credit Union account?

Whether your goal is to build up savings, prepare for Christmas or have a little extra financial support when an unexpected expense comes along, putting your Child Benefit into your credit union account could help you plan ahead and make your money work harder for you.

Start preparing for Christmas early 🎄

Christmas can be an expensive time of year. Presents, food, travel and family activities can all add up, and leaving everything until December can put extra pressure on the household budget.

One simple way to spread the cost is to start saving a little at a time.

By having your Child Benefit paid into your Gateway Credit Union account, you can choose to put some, or all, of it towards your savings. Regular payments throughout the year can gradually build into a useful Christmas fund.

The earlier you start, the more time your savings have to grow, helping you avoid the last-minute financial squeeze that Christmas can sometimes bring.

Build a regular savings habit 💰

Saving doesn't always have to mean putting away large amounts.

Regularly setting aside smaller amounts can be a great way to develop a savings habit and create a financial cushion for the future.

Your savings could eventually help with:

🎄 Christmas and birthdays
👟 Children's clothes, shoes or school costs
🏠 Unexpected household expenses
🚗 Car repairs or other emergencies
🎉 Family days out and special occasions
💷 Longer-term financial goals

Having money set aside can also provide greater peace of mind when an unexpected bill comes along.

Keep your finances simple

Having your Child Benefit paid directly into your Gateway Credit Union account can make it easier to keep track of your money and separate the money you're putting aside from your everyday spending.

You can then decide how you want to manage your money based on your family's circumstances and financial goals.

Even a small amount saved regularly can add up over time.

What if you need to borrow?

Sometimes saving isn't enough to cover a larger unexpected expense. As a Gateway Credit Union member, you may also be able to access affordable loans, subject to the our normal lending criteria.

For example, a loan could potentially help you manage a larger necessary expense without turning to high-cost forms of borrowing.

The important thing is to consider what you can comfortably afford to repay and seek advice if you're unsure.

Think ahead, rather than worry later

Managing family finances can sometimes feel like a juggling act. Using regular income such as Child Benefit as part of a savings plan can help you take a more planned approach to your money.

Whether you're thinking about Christmas, building an emergency fund or simply getting into the habit of saving, every little bit can make a difference.

Ready to make your Child Benefit work for you?

If you're a Gateway Credit Union member, why not find out more about having your Child Benefit paid directly into your account?

It could be the first step towards building your savings, planning for Christmas and giving yourself a little more financial breathing space.

Save little. Plan ahead. Feel more prepared. 💚

Always check the latest Gateway Credit Union terms and conditions for savings and lending. Loans are subject to status, affordability and the credit union's normal lending criteria.