Enabling employees to make their salaries stretch further is at the heart of what we do. Wider Plan has over a decade of experience in transforming employee culture and values into tangible benefits that can demonstrate just how valuable employees are.
Whilst Christmas 2021 seems like an inappropriate topic, now is the best time to launch a benefit with savings that will accrue over the year; rather than employees paying into saving schemes that carry their own risk e.g funds not being ring fenced. Forecasting finance is a tough ask and, with unexpected costs throughout the year, employees are often looking for ways to save money on the costs of everyday living.
Saving little and often can build up to a large amount. Wider Wallet is a tool that can be used to save the stress of paying for the festive season, steadily throughout the year. We have outlined the savings provided by Wider Wallet for an average household, below.
Savings for an average household
| Household expenditure | Average cost* | Average cost using Wider Wallet** | Savings to put toward Christmas |
|---|---|---|---|
| Supermarket shop | £5096 per year | £4841.20 per year | £254.80 |
| Toiletries | £566.80 per year | £521.45 per year | £45.35 |
| Eating out and takeaways | £1716 per year | £1578.72 per year | £137.28 |
| Pets e.g insurance | £301.60 per year | £271.44 per year | £30.16 |
| Clothing | £1300 per year | £1170 per year | £130 |
Total saving of £597.59
* based on an average household - Source:
www.ons.gov.uk
** calculated using offers available at the time of writing.
The Nationwide Building Society’s survey sees consumers spending around £360 on Christmas presents for friends and family. Wider Wallet could save employees £597.59 on the cost of everyday living, simply with the examples above. That is Christmas nearly twice over.
With user friendly systems, friendly customer service and dedicated account management, Wider Plan can help you turn your reward and recognition aims into a reality. For further information, please contact us.