Does Size Really Matter? (When It Comes to Saving - and Borrowing Wisely)
Little Changes, Big Impact
Bigger Isn’t Always Better
Some say size is everything. Others swear it's all about how you use it. But here's the truth: small can still be great. When it comes to money - saving or borrowing sensibly - small amounts can have a surprisingly big impact.
A modest saving is still a win. Especially when the unexpected knocks, a small cushion between “just enough” and “nothing at all” can mean the difference between calm and chaos.
A small loan, if used wisely, can stop a setback from spiralling. So yes, size matters - but not always in the way you might think.
Why Small Savings Matter
A real vulnerability: Nearly half of UK households admit they’d struggle to pay for an unexpected £300 bill (Lancaster University)
Low savings so common, they’re persistent: One in three working-age adults live in households with less than £1,000 in savings (FCA)
Long-term underfunded: In 2019, 40% of 20–59-year-olds had under £2,000 in financial wealth, and 43% in the middle-income bracket were in the same boat (FCA)
The Reality: Millions Are One Shock Away from Trouble
Unexpected bills happen all the time. In fact, nearly three-quarters of UK households face at least one surprise expense every year, often totalling more than £1,500
Yet, millions are unprepared:
26% of working-age adults have no savings at all, and another 29% have less than £1,000. (UK Parliament)
One in four adults (23%) lack even basic emergency savings. (StepChange)
The average rainy-day fund is just £1,983, far below the recommended 3–6 months’ worth of expenses (typically £7,000+). (Source)
This means that even relatively small shocks - a £300 repair, a broken appliance, or an unexpected bill - can leave households scrambling.
Why Small Savings Pack a Big Punch
The good news? Research shows you don’t need to save thousands to feel the benefits.
A study from Nest Insight found that households with as little as £100 in savings were significantly less likely to fall into problem debt
Consistent savers - no matter the amount - report better mental health, lower stress, and improved sleep (Building Societies Association)
Even £10 a month adds up to £120 a year - enough to cushion a minor emergency or cover the cost of essentials for a week
In short: it’s not the size of the saving, but the habit of saving, that builds resilience.
Building Financial Resilience: Step-by-Step
Start small, start now
Automate £5-£10 into savings each month. Research shows even small savers report greater life satisfaction and less stress (BSA).Target a first buffer of £300-£500
This covers the most common unexpected costs-repairs, bills, and essentials.Use safety-net credit wisely
Products like CashWave give you predictable repayments and avoid the pitfalls of spiralling debt.Match income and outgoings
Many UK workers are paid monthly, but bills arrive weekly. Budgeting tools - or even adjusting pay cycles - can help smooth the mismatch (FT).Grow over time
Once you’ve hit your first emergency target, aim for 1-3 months of expenses. Over the long run, this creates freedom and security.
Borrowing Smart: A Safety Net, Not a Trap
Of course, savings take time to build - and emergencies don’t wait. Without a buffer, many people turn to overdrafts, credit cards, or high-cost loans.
The problem? These products often come with compounding interest and hidden fees, making a short-term fix into a long-term burden. According to StepChange, over 1.4 million households in the UK are persistently over-indebted, caught between bills, credit, and arrears.
That’s why affordable, transparent credit can play a role in financial resilience - when it’s designed to protect, not trap.
Where CashWave Fits
This is exactly the gap CashWave by SteadyPay was created to fill.
Borrow from £100 up to £500 when life throws you a curveball.
Repay in equal instalments
Pay a flat fee only - no rising interest, no hidden extras.
CashWave isn’t here to replace savings - it’s here to support you when savings aren’t yet in place. A responsible, short-term option that gives breathing space without the spiral.
The Bigger Picture
The UK’s savings crisis isn’t just about individual choices — it’s shaped by rising costs, stagnant wages, and volatile incomes. Around 14% of workers experience significant monthly pay fluctuations, leaving many without a steady foundation (FT).
Policymakers are trialling schemes like employer-linked savings and Help to Save accounts. But fintech tools like CashWave provide real-time solutions bridges that help households weather the storm while working toward longer-term security.
Small Really Does Matter
Whether it’s saving £10 a month or borrowing £300 in a pinch, small decisions can have outsized effects.
A tiny saving today can stop debt tomorrow.
A fair, transparent loan can be the difference between falling behind and staying afloat.
And a consistent habit of building your cushion - no matter the size - creates resilience that compounds over time.
So yes, size matters. But when it comes to money, small is powerful.
👉 Download SteadyPay today on Apple or Google Play and see if you’re eligible for CashWave.
Sources:
https://committees.parliament.uk/writtenevidence/85342/html/
https://www.nestinsight.org.uk/wp-content/uploads/2024/07/Savings_for_all.pdf
https://www.resolutionfoundation.org/app/uploads/2024/02/Precautionary-tales.pdf
https://www.ft.com/content/9a388cdd-a322-43f5-965e-9f6902eb6b38