Ahead of January payday, a financial expert advises Brits to take a specific action that could result in unlocking up to £1,164 in potential savings.
Rajan Lakhani, the Head of Money at the money management app Plum, is recommending individuals to activate an “autosave” rule within their banking applications.
An “autosave” rule is a functionality in banking apps that automatically moves money into a savings account or investment fund at predetermined intervals.
The purpose of this feature is to eliminate the need for manual transfers to save money.
According to Plum’s analysis, the average worker utilized auto-saving tools to stash away £97 per month into savings in 2025.
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By starting this process in January, individuals could accumulate £1,164 by the year’s end. If these funds are transferred to a high-interest savings account with rates exceeding 4%, the savings could grow to approximately £1,210.
Popular digital banks offering “autosave” functionalities include Monzo, Starling, Revolut, and Chase.
Rajan Lakhani, Head of Money at Plum, stated: “Setting up a payday autosaver can provide a hassle-free approach to monthly saving, ensuring consistency in building towards long-term financial objectives.
“It’s a simple action to
