Nationwide Building Society members have been issued an update about a payment change. The group also pointed members to help they can get in the app.
The update comes as the savings giant has just issued an £100 bonus payment to millions of customers. Nationwide has published details of customer spending data indicating some key changes in people’s habits in light of global events.
Research by the building society suggests people are switching up their summer holiday plans as concerns abound concerning the Iran conflict and how it could impact fuel shortages for air travel and other parts of the economy.
The data shows customer average spend on holidays between January and April 2026 was at £492, down by £6 from an average of £498 for the same period last year. A poll by Nationwide of 2,000 customers in May found that almost a quarter had changed their holiday plans owing to worries over global events.
Of those who changed their plans, almost 30 per cent said they were putting off making decisions. More than a fifth said they had decided to go for a holiday in the UK rather than going abroad.
Some were choosing to go for cheaper trips while 15 per cent said they had cancelled their holiday plans altogether. Another 15 per cent said they had switched to day trips instead of a full holiday.
‘A clear impact’
Looking at the findings, Mark Nalder, payments director at Nationwide, said: “Our latest research shows that uncertainty this year is having a clear impact on people’s holiday plans. It could also be we are seeing the rise of the ‘delaycation’ as many choose to delay booking holidays, while a growing number are cancelling plans or opting for UK staycations to keep a tighter grip on their finances and budgets.”
Mr Nalder went on to point out that help is available online: “Quick transfer features and budgeting tools like those on our app can be a big help when balancing spending and manage money when plans change.” The Nationwide website also has guidance about how to set up a budget.
Income check
The guidance is to first work out how much money you have coming in each month. Some sources of income to include are:
Once you have calculated your monthly income, the second step is to work out how much you are spending regularly. Nationwide explains: “Some like to go through their paper statements, others prefer spreadsheets and some like to keep it within an app. It’s up to you as long as you’re able to be as accurate as possible.”
It’s important to note down all parts of your spending, such as:
- Rent (or mortgage)
- Bills
- Subscriptions
- Eating out spending
- Impulse buys.
50-30-20 rule
Nationwide recommends the 50-30-20 rule as a “great way to plan out your spending”. The idea here is to have:
- 50% on musts – your fixed outgoings and essential living expenses
- 30% on wants – your day-to-day spending and things you enjoy
- 20% on savings or debt – paying more than your minimum payments or putting some money into a savings account, or into ISAs or investments.
For example, if your after-tax income is £1,500 month, you could split this into £750 on your musts, £450 on your wants and £300 on paying into your savings or clearing debts.