This week is National Savings Week. We all love to have savings and agree that saving money is a good idea.  Harvard researchers found that having savings helps us feel calmer, more in control and even increases our IQ by 13 points.

This is because we move out of that hard wired fight or flight mindset associated with scarcity to a place of mental safety where we are able to think more clearly and plan ahead. As parent of small children, my favourite data point is that saving regularly, even small amounts, not only leads to improved life satisfaction but also helps us sleep better.

But, and its a big but - 49% of UK adults lack financial resilience according to the Financial Conduct Authorities’ latest nationwide financial lives research, the CIPD found that 30% of employees said they could not cope with an unexpected £300 bill, and this rises to 52% among those earning less than £20,000 a year so its no surprise that 25% of us are distracted at work because of money worries and these stresses cost UK employers a whopping £2.5billion a year. 

The business case for more holistic workplace savings has never been stronger, but how can payroll saving support financial resilience at work?

Dave Ramsey, the American Financial Coach, often says: “You can’t borrow your way out of debt. But you can save your way out of a crisis.”

Ramsey recommends starting with a small emergency fund (£500 to £1,000) before tackling debt. This aligns closely with the UK Government’s financial inclusion and resilience strategy promoted by organisations like Nest Insight and StepChange.

Payroll saving makes this possible:

‘Set and forget’ route to financial wellness

Automatic deductions make saving effortlessly consistent and sustainable.

Builds emergency funds quickly

Even £10 / week adds up to over £550 a year (including interest), a rainy-day buffer which alleviates day to day money stress and dramatically reduces the likelihood of falling into problem debt.

Behavioural win

Saving before spending turns intention into habit, empowering employees to achieve their financial goals and avoid / get out of the panic-based mindset associated with low financial resilience. 

Financial wellness = mental wellness

Employees are happier and manage stress better when they have a financial cushion.

Emergency Savings: The first line of defence against problem debt 

Research from the Money and Pensions Service in 2021 found that people who save regularly, even small amounts, are far more likely to be able to withstand an income shock. 44% of regular savers have at least three months’ income in savings, compared to only 5% of non-savers.

Building a financial buffer doesn’t just protect individuals—it strengthens the resilience of the whole workforce. By making it simple for employees to save directly from their pay, people leaders can help break the cycle of debt before it starts and instead build both financial and mental wellness that lasts.

Partnering with a local credit union or a payroll savings provider like Sync Savings makes implementation quick, easy, and impactful. And what better time to make this change, thank national savings week! Happy Saving!