Hey there, savvy savers and everyday spenders! If you’ve got a bit of cash stashed with Nationwide Building Society , you might have heard a whisper (or a celebratory whoop!) about their £100 bonus. Yep, for the second year running, Nationwide is giving back to its loyal members.

Now, £100 is nothing to sniff at. It’s a round of drinks, a nice dinner, or a little something extra to treat yourself. But in the grand scheme of things, is it really making a difference to our finances? Especially with the cost of living being what it is, every penny counts, right?

The Deal with the Nationwide Bonus

Let’s break down the bonus for a sec. To qualify, you need to have either:

  • A current account AND a savings product with Nationwide
  • A current account AND a mortgage with Nationwide

The bonus is set to land in accounts this June, and it’s not a small sum for Nationwide to be dishing out. We’re talking potentially hundreds of millions of pounds! So, fair play to them for sharing the wealth. You can find all the nitty-gritty details on Nationwide’s Fairer Share Bonus page

The Bigger Picture: Is £100 Enough?

While it’s great to see banks like Nationwide giving back, the question on everyone’s minds is: is it enough? With inflation rising faster than a hot air balloon, £100 might not stretch as far as it used to. And with the Bank of England hiking interest rates, you might be wondering if your money could be working harder for you elsewhere.

What to Do with Your Bonus (and More!)

If you’re lucky enough to get the bonus, congratulations! Now comes the fun part: what to do with it. Here are a few ideas to get you started:

  • Boost Your Savings: Pop it into a high-yield savings account to earn a bit of extra interest. There are some great options out there, so shop around and compare rates.
  • Invest in Yourself: Use it to upskill, learn a new language, or take a course that could boost your career prospects.
  • Treat Yourself: Hey, you deserve it! A little splurge can go a long way in brightening your day.
  • Pay It Forward: Donate to a charity or cause you care about. It’s a feel-good way to make your money go further.

Beyond the Bonus: Making Your Money Work Harder

Whether you’re a Nationwide customer or not, it’s always a good idea to review your finances regularly. Are you getting the best deals on your bank accounts, credit cards, and loans? Could you be earning more interest on your savings? A little research and a few tweaks here and there could make a big difference to your bottom line.

Final Thoughts: It’s Not Just About the Money

While the Nationwide bonus is a nice perk, it’s important to remember that your financial well-being is about more than just a one-off payment. It’s about making informed decisions, planning for the future, and finding the right products and services that suit your needs. So, take this opportunity to assess your finances and see if there’s room for improvement. After all, every little helps, right?

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