B-Tox Challenge launch: Tiny tweaks could save those pounds

Category B-Tox money saving, personal finance, how to save money

And they’re off. The 2018 B-Tox Challenge officially got underway at an event in London last week when a panel of money-smart experts shared their top tips for getting financially fit.

Our new current account and instant savings account work beautifully together within one super-smart, app, powered by Clydesdale Bank & Yorkshire Bank. With B, there’s no monthly account fee. Compatible devices require to access all of B’s features. T&Cs apply. Subject to status & eligibility.

Our smarter savings challenge kicked off with advice from Director of Innovation and Marketing Helen Page, celebrity psychologist Dr Linda Papadopoulos, leading London lifestyle blogger Kristabel Plummer and Studio B flat winner Ryan Crabbe.

The challenge is all about picking a simple savings habit and sticking to it to see the ways your financial health could improve as a result.

Take the B-Tox Challenge

Enter the challenge on the B Facebook page by telling us which one thing you’re pledging to do with your pennies and you’ll be in with a chance to win £1000 in weekly prize draw. It’s as simple as that (*T&Cs apply, of course.)

B-Tox panel discussion

Helen Page, Group Innovation Director at B says: “We need to prioritise financial fitness in the same way we often focus on our health and wellbeing at this time of year. This really resonated with me and we often start the year focussing on our emotional and physical well-being, we need to encourage ourselves to also look at our spending and finances.

“Small changes to daily habits can save thousands of pounds a year. We have researched simple ways to make savings. Ditching just two daily habits like buying a coffee or pre-prepared food can add up to a saving of over £1000 a year.”

"Financial worries can have a devastating effect on mental health."

But financial fitness won’t just help you towards a potentially wealthier future, it could also mean better mental health. Psychologist, Dr Linda Papadopoulos said: "Financial worries can have a devastating effect on mental health.

"The relationship between the way we think about and manage our finances and our mental health is actually circular and can therefore lead to a vicious cycle.

“The fact is, worrying about debt and feeling insecure in our financial situation can lead to mental health problems like anxiety and stress which can in turn actually contribute to poor decision making around how we manage our finances.”

Sharing the B-Tox Challenge panel was lifestyle blogger Kristabel Plummer of I Want You To Know. She was keen to stress that financial health should be shared with those around you.

"It can only be a good thing if we’re more empowered and more knowledgeable about money, be aware of your friends' individual financial situations - be mindful and present alternative things to do.” she said.

If all this sounds a bit daunting, our Head of Customer Communications Louise Hodges said: “We’re on a mission to inspire, but you’ve got to look at it in terms of not massive life changes, but small adjustments. There are tiny tweaks you can could save you hundreds if not thousands of pounds a year.”

Need inspiration?

Feel like you missed out on the event? Fear not! Check out the full B-Tox panel discussion.

*5 weekly draws, each with a prize of £1000, running between 12:30pm 11th January 2018 and 11:59pm 28th February 2018 (see full T&Cs for specific entry dates for each weekly draw). You must be 18 or over and a UK resident (excluding NI) to enter. Clydesdale Bank and Yorkshire Bank staff and 3rd parties contracted in connection with the administration or the prize draw are excluded. One entry per person, per prize draw, is allowed. Promoter: Clydesdale Bank PLC. Full T&Cs available on Facebook.

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