An expert in personal finance is advising individuals in the UK to take a specific action before their January salary to potentially save up to £1,164.
Rajan Lakhani, who heads the Money department at financial management app Plum, is recommending the establishment of an “autosave” rule within their banking application.
The “autosave” rule is a function found in banking apps that automatically moves money into your savings account or investment portfolio at predetermined intervals.
The purpose of this feature is to eliminate the manual effort required to transfer funds into savings.
Based on an analysis by Plum, on average, individuals used auto-saving tools to save £97 per month in 2025.
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Individuals starting in January could accumulate £1,164 in savings by the end of the year. If these funds are placed in a high-interest savings account with a rate exceeding 4%, the savings could potentially increase to about £1,210.
Several popular digital banks offering “autosave” functionalities include Monzo, Starling, Revolut, and Chase.
Rajan Lakhani from Plum stated, “Implementing a payday autosaver can create a hassle-free monthly saving routine, aiding you in maintaining consistency and achieving long-term financial objectives.
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