
‘Save a little, when you can’: does putting money aside for something special help you recapture some of the magic of childhood?
By Rhymer Rigby
April 2025

‘Save a little, when you can’: does putting money aside for something special help you recapture some of the magic of childhood?
By Rhymer Rigby
“Remember that feeling as a child – saving up your pocket money until you reached your goal and then taking all your pennies and pounds (now a phone or bank card) to the shop to make your long-awaited purchase?” says Rachel Jones, senior marketing manager at Coventry Building Society. “That emotional response doesn’t leave us.”
Adulthood can often feel very different. Particularly now, after high inflation and a cost of living crisis, it can seem like a never-ending merry-go-round of bills and financial stress. “Money worries are one of the biggest pressures we can face,” says Michelle Pickard, head of marketing at Coventry Building Society. “I think it’s something that most people experience at some point in their life.”
Research conducted in 2023 by the Mental Health Foundation found that money worries were the most common cause of anxiety in the UK, with roughly a third of British adults saying that being able to afford to pay the bills had made them anxious in the last two weeks.

“Life is for living and there is room for the adult and our inner child to enjoy every moment,” says Pickard.
But that first step of gaining control over your money is key. Research from the University of Bristol, which was commissioned for UK Savings Week, shows that savers are likely to have higher scores for a number of happiness indicators. These were mental wellbeing, life satisfaction, optimism, sleeping well, feeling relaxed and feeling close to others. Across all these metrics, those who identified themselves as savers scored significantly higher than those who saved nothing. Speaking at the launch of the report, Andrew Gall, head of savings at the Building Societies Association, said: “While we appreciate that some people simply won’t be in a position to save right now, these findings show why everyone should be encouraged to save a little, if they can, when they can.”
In general, the more you saved, the higher the score. But the positive effects started to kick in very early – a few hundred pounds in savings made the biggest difference. So even those who save a little bit benefit. Moreover, those who stopped saving saw their wellbeing decrease significantly.
But starting to save can seem daunting, so, where do you begin?
Many savers deposit a small sum, often immediately after payday, and put it into a different account, for example our Regular Saver. Soon, you get used to this sum going out and barely notice it, but over time the savings really add up. Similarly, you might also avail yourself of a workplace savings scheme.
Keeping on top of money can also help. “Every payday I organise my money,” says Pickard. “Money for bills, money for paying back credit cards, money for everyday spending. If there’s something left I put it into my savings accounts.” She has three accounts – one for long-term savings such as home improvements or children’s university fees; one for big items such as holidays; and a regular saver for smaller expenses such as presents or dealing with unexpected costs. “Being financially secure definitely eases stress, allowing me to feel freer,” she says. “If I’m less stressed, I can be a better mum and enjoy that feeling again with my kids.”
Good financial habits such as these can make life considerably less stressful. But it’s not just freedom from worry that allows you to recapture that childhood feeling. “I definitely treat myself,” says Pickard. She does this by giving herself an Advent calendar. “I save £20 a month throughout the year, and then I enjoy a little gift for myself each day as Christmas approaches. I love this as it’s often things I wouldn’t usually buy.”
She also recognises the need for self-care. “I have a few pick-me-up treats if I’m feeling down or burnt out – a trip to the shops or a nice meal out. Life can be hard with lots of bills and outgoings. Extra treats can really help my mental health.”
Whether you’re saving for life’s essentials or for a well-deserved treat, Coventry Building Society has a range of accounts to help you get there.
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You don’t need to save a lot to start feeling the benefits, and just adding small amounts to your reserve regularly can help you rein in your spending