The use of cookies

By navigating through this site, you consent to us collecting information using cookies. At any time, you can set your browser to notify you when a cookie is sent or to refuse cookies altogether, but certain features of this site might not work without cookies.

To find out more about cookies see our policy on Privacy and Cookies

Mutual Respect

From your local mortgage and savings experts

Request A Call Back

Community Noticeboard

03
Jan

Planning for those unexpected bills.

We all need to prepare for those unexpected bills. You know the ones; the car or boiler breaks down, a tooth falls out, and it always seems to happen when it’s the last thing you need.

Do you save for those events? Do you know how much you should save?

Here are four steps to show how you can budget and plan for unexpected costs:

  1. Identifying your recent unexpected expenses. Make a list of common expenses that can crop up, like car insurance, vets bills, car repairs, boiler repairs, school trips, or optical and dental bills.
  2. Look at your calendar for the past year, along with bank and credit card statements, and see which ‘irregular expenses’ you paid by credit. Holidays?
  3. Total up the amounts, which are over and above your regular monthly expenses, and divide by the number of salary payments you have each year. For example, if your irregular and unexpected expenses totalled £2500 in the last year, divide by 12, if you are paid monthly. You should set this amount, £208, aside in a separate savings account so that you have the money when you need it.
  4. It might be hard to revise your monthly budget to set £200 aside each month to start with, so work up to that amount as you look for ways to decrease other expenses. Start by saving £50 each payday. Once you don’t miss the £50, increase it £100, and so on.
 

Fundraising

News

Competitions

What's going on

© Newbury Building Society

Tech Help  |  Accessibility  |  Contact Us  |  Connect  |  Site Terms  |  Site Map  |  Privacy

Newbury Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register number 206077). Registered office: Newbury Building Society, 17 Bartholomew Street, Newbury, Berkshire, RG14 5LY.

English law applies and we will communicate with you in English. We are participants of the Financial Ombudsman Service. We have a complaints procedure which we will provide on request. Most complaints that we cannot resolve can be referred to the Financial Ombudsman Service.

You can check the Financial Services register on the FCA's website.

Close

Request a Call Back

Swoosh

Speak to one of our expert advisers on
01635 555777  or request a call back:

Name:
Phone:
Email:
Reason for Call Back: Savings   Mortgages   Insurance   Other
Local Branch:
Preferred Day to Call:
Preferred Time of Day:
On Saturdays we are only able to call in the morning due to branch opening times.

We will only use these details for the reasons requested.
 
Are you human? Please enter the text below into the box
captcha image
Click here to get a new image
Call Back
Close

Request a Call Back

Swoosh

Speak to one of our expert advisers on
01635 555777  or request a call back:

Name:
Phone:
Email:
Reason for Call Back: Existing Mortgage   New Mortgage  
Local Branch:
Preferred Day to Call:
Preferred Time of Day:
On Saturdays we are only able to call in the morning due to branch opening times.

We will only use these details for the reasons requested.
 
Are you human? Please enter the text below into the box
captcha image
Click here to get a new image
Call Back