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There are lots of different ways to save up money for your dream holiday, luxury items or children’s university funds – through your bank, through our app or by keeping money in your piggy bank. On the other hand, there are also a lot of people who you might help you save – do you do it on your own, as a couple, as a family or even as a group of friends?

Group saving is an increasingly popular practice, and when done right with the correct technology, can be extraordinarily successful.

What is Group Saving?

Group saving is exactly as it sounds, saving in a group. There are a few ways you can group save, but we recommend having one place where everyone can add their money to. This stops confusion and lets everyone involved see what’s going on. Offspring allows you to stay in complete control over who can see your Offspring profile and who make contributions towards your goals. Our app will allow you to download details of your own contributions at any time, just for your records, or to show others how much has been saved in total so far. Check us out in the App or Google Play stores.

Does Group Saving Work?

Much like raising money for charity as a group, saving as a group is a much more productive and proactive strategy.

When you’ve set up Offspring, you can invite family and friends to join for free and everyone can start contributing towards your collaborative saving goal. Our app is the simple way to turn your family and friends into a community of savers, who together will help you achieve your goals. Once you’ve used our app to work together towards a shared goal, you can easily celebrate the pleasure of achieving it together because our app allows you to easily thank the people who contributed towards your goal.

Like collaboration in the workplace, working together helps people see the value in achieving their common goal, giving them a meaningful reason to work in unison, along with receiving mutual benefits.

What Can I Use Group Savings For?

You can save as a group for pretty much anything. With Offspring as many contributors as you want can save through the app using their phones. This means the opportunities for group savings are endless. If the televisions about to break, everyone can pitch in weekly until you’ve reached your goal of buying the latest model. Summer holiday savings just got a whole lot easier too! If a family member wants to go to Spain for a week, they can suggest it as a saving goal that all the rest of the family can work towards!

If you and your friends are saving for a festival, or a break away, then group saving on our app is perfect! Offspring lets you receive alerts and notifications whenever someone contributes. By tracking your progress towards your goal, you’re much more likely to achieve it, so remember to thank those who’ve helped – it might just encourage them to contribute again!

If there’s money left over after you’ve turned your goal into a reality, Offspring lets you create a new goal and link it to your existing bank account – meaning you can plan for your next group trip away as soon as you’re back from your first one!