What is National Savings Week?
National Savings Week takes place in the UK every September. It’s a chance for businesses and employees to focus on saving money and building better habits. Saving doesn’t need to be big or complicated. Small, regular steps can add up to real change.
Financial health matters for employees. When people feel more in control of money, they’re less stressed and more confident. The Money and Pensions Service explains that financial wellbeing means being able to:
- Manage everyday money
- Cope with unexpected costs
- Plan for the future
The impact of money worries on work and wellbeing
Poor financial health affects work as well as home life. In 2025, The Investing and Saving’s Alliance (‘TISA’) found that 10.1 million UK adults were over-indebted and 5.5 million fell behind on bills. Employers say 71% of staff are distracted by personal debt, and almost 4 in 10 employees feel financial struggles hurt their performance.
The impact goes further. According to the Centre for Economics and Business Research (‘Cebr’), around 4.2 million workdays are lost each year to financial stress, costing the UK economy about £626 million. More than half of employees (52%) say money worries affect their work, and 45% say it disrupts sleep.
The benefits of good financial health are clear. Employees feel healthier, happier and more secure. Employers see higher engagement, lower absence and stronger retention. Supporting saving through payroll software or simple money tools is one way to make a big difference.
National Savings Week is a good reminder to think about money habits. It’s a time to check financial health, build confidence and make saving feel normal for everyone.
See how payroll savings tools can improve financial health
How saving links to financial wellbeing
Why saving regularly is important for everyday life
Saving regularly helps build security and peace of mind. Even small amounts set aside each month can make a big difference over time. It means having money ready for the emergencies that life throws at us.
Regular saving supports better budgeting too. By putting money away first, there’s less risk of overspending. The Money and Pensions Service explains that saving often is a key part of financial wellbeing, giving people more control and confidence in their daily lives.
The impact of the cost-of-living crisis and rising bills on financial wellbeing
In recent years, rising prices have put pressure on many employees. Everyday costs like food, rent, fuel and energy have gone up. This leaves less money spare for saving or planning ahead.
When the cost of living rises faster than pay, regular saving becomes harder but also more important. Even small amounts put aside can help employees feel more secure and able to cope with unexpected costs.
Why financial resilience matters in tough times
Financial resilience means being able to cope when life doesn’t go to plan. It’s about having enough stability to handle unexpected costs or a sudden drop in income. Without this safety net, even small problems can turn into major stress.
Building resilience helps employees feel more secure and less anxious. It gives them the confidence that they can manage, even when times are hard. The Money and Pensions Service defines financial wellbeing as being able to:
- Manage money day to day
- Deal with the unexpected
- Plan for the future
This resilience matters because money worries can spill into every part of life. Employees who feel financially fragile are more likely to lose sleep, suffer poor health and struggle with focus at work. When employees are more resilient, they bring greater energy, stability and confidence into the workplace too.
Learn how to improve your employees’ financial resilience
The benefits of feeling in control of money
Feeling in control of money has benefits that go far beyond the bank balance. It reduces stress and helps employees feel calmer in daily life. It also builds confidence when planning for both short-term needs and long-term goals.
When employees feel more secure about money, they:
- Sleep better and worry less
- Focus more at work
- Make healthier choices in daily life
- Feel more motivated and confident about the future
Research shows that more than half of UK employees (52%) say money worries affect their work. Helping staff feel in control removes a major source of stress.
Good financial habits like regular saving, budgeting and building a small safety net all play a part. These steps help employees gain control, improve wellbeing and perform better at work.
Simple ways employees can build savings habits
Save before you spend
Many employees want to save but find it hard to get started. Payroll savings schemes can help.
With payroll savings, staff choose an amount to save. This is taken straight from their wages before it reaches their bank account. It’s simple, regular and easy to manage. Even small amounts add up over time.
To make this work well:
- Offer savings pots built into the payroll system - Employees can set aside money automatically from each payroll run into specific savings pots. Whether it’s for holidays, emergencies or everyday savings, this ‘set and forget’ method makes saving simple and consistent.
- Introduce the scheme during onboarding or staff reviews - Payroll savings should be part of early conversations with employees. Introducing the scheme when someone joins or during regular reviews helps normalise saving. It shows that financial wellbeing is part of the company’s culture. It also gives staff the chance to ask questions and get set up from day one.
- Keep it optional, simple and easy to change - Employees should feel in control of their money. Make sure the savings scheme is easy to join, adjust or leave at any time. This flexibility builds trust and makes it more likely that staff will take part and keep saving over time.
- Use payroll software that supports flexible payments - This allows employees to split their pay across different accounts - for example, some into bills, some into savings and some into spending. It helps them manage money more effectively and build healthy financial habits.
Communicate clearly. Let staff know how it works and why it helps. Internal comms, posters or intranet links are all good ways to raise awareness.
Offering payroll savings shows care beyond an online payslip. It supports employee financial wellbeing and builds trust. It’s a simple benefit that helps staff feel more secure — and that’s good for them and the business.
Support staff financial wellbeing with payroll savings tools
How AI nudges can support saving goals
PayCaptain’s SmartPay feature takes savings a step further. It helps employees build better saving habits in a way that’s personalised to them. It’s designed to support personal goals and make saving feel natural and achievable.
SmartPay is fully integrated into the payroll system. It prompts employees to save at relevant times. This can be when they have more money, like a bonus or when they’ve paid off a student loan. It suggests small, manageable amounts to put aside, based on each person’s situation and goals. Whether it’s saving for a holiday, covering unexpected bills or building a rainy-day fund, SmartPay helps make it possible.
The tool is personalised, simple to use and built around the idea of sustainable financial habits. With deep behavioural insights and giving people the right nudge at the right time, SmartPay supports stronger long-term financial wellbeing.
Investing in a pension
Saving for the future isn’t just about putting money aside for the next few months. Pensions are a form of long-term saving. They give employees a way to build up money for later life, when they stop working.
Workplace pensions are especially powerful. Employees pay a percentage of their salary into their pension every month, and the employer adds money too. The government also provides tax relief, which means even more is added. This combination makes pensions one of the best ways to save.
Regular contributions are the key. Even small amounts taken from each payday can grow into a much bigger pot over time. The money is invested, which gives it a chance to increase in value. The earlier employees start saving into a pension, the more time that money has to grow.
Pensions also support financial wellbeing today. Knowing there’s money building up for later life helps employees feel more secure. It means they don’t have to worry as much about the future.
Financial wellbeing isn’t only about covering today’s bills. It’s also about planning ahead and feeling confident that retirement will be comfortable. Pensions are an important part of that. They give employees peace of mind and show the value of saving for both now and later.
Payroll tools employees can use to support everyday money management
Modern payroll software does a lot more than process pay. It can give staff the tools to manage their money better, every time they get paid.
Look for features like:
- On-demand pay: Letting employees access part of their earned pay before payday
- Budgeting tools: Helping staff plan their spending, track bills and set goals
- Benefits checker: Making it easier to see if they’re missing out on support
- Payment splitting: Letting employees send pay to multiple accounts or savings pots
These tools are simple to use and fit into everyday life. They turn payroll into something helpful, not just something that happens once a month.
Offering these features shows a business cares about its people. It also helps reduce financial stress and improve focus at work.
Explore payroll savings, budgeting pots and SmartPay
Final thoughts from PayCaptain
National Savings Week is more than a reminder to put money aside. It’s a chance to make saving feel normal and open conversations about money at work. Many employees want to save but find it hard to get started. With the right tools and support, small changes can make a big difference.
Payroll savings, savings pots and budgeting tools all help employees take control. Automating saving direct from salary means staff can build up money without extra effort. Features like savings pots, AI nudges and pensions make it easier to save for both today and the future.
Supporting financial wellbeing benefits everyone. Employees feel less stressed, more secure and more confident. Employers see a more focused and engaged workforce.
National Savings Week is the perfect time for businesses to show they care about their employees’ financial health. With PayCaptain, employers can give staff the options they need to build stronger habits and a better financial future.
