Before the January payday, a financial expert is advising individuals in the UK to take a specific action that could lead to potential savings of up to £1,164.
Rajan Lakhani, who serves as the Head of Money at Plum, is promoting the idea of implementing an “autosave” rule within their banking application.
The “autosave” rule is a functionality available in banking apps that automatically shifts funds into a savings account or investment portfolio at regular intervals.
This approach eliminates the need for manual transfers of money into savings, simplifying the process for individuals.
Based on an analysis conducted by Plum, the average worker utilized auto-saving tools to save £97 per month in 2025.
WHATSAPP GROUP: Receive money-related news and exclusive deals directly on your phone by joining our Money WhatsApp group here. Our community members also benefit from special offers, promotions, and advertisements from us and our partners. If you decide to leave our community, you are free to do so at any time. For those interested, you can review our Privacy Notice.
NEWSLETTER: Alternatively, sign up for Mirror’s Money newsletter here to receive top advice and shopping deals directly in your email inbox.
By starting in January, individuals could accumulate £1,164 in savings by the end of the year. If these funds are transferred to a high-interest savings account with a rate exceeding 4%, the total savings could grow to approximately £1,210.
Some of the leading digital banks offering “autosave” features include Monzo, Starling, Revolut, and Chase.
According to Rajan Lakhani, the Head of Money at Plum, “Establishing a payday autosaver can facilitate effortless monthly savings, enabling consistency and progress towards long-term financial objectives.
<p class="Paragraph_paragraph-text__PVKlh " data-tmdatatrack="content-unit"