It is true, no matter how much you earn now, you could earn less. By that token, no matter how much you spend now, you could always spend less. That is the reasoning behind the Victoria Mutual Building Society’s (VMBS) ‘One Less’ Savings Campaign. The concept is simple, spend less on one item and use that money to save more.

One less night of clubbing, one less pack of cigarettes, one less night cap at the bar, one less pair of fabulous shoes can add up to mountain of savings over time. According to the ‘One Less’ concept, by making small sacrifices you can watch your savings grow.

“The One Less Campaign is designed to build awareness around the ways in which each person can create savings opportunities in their budgets. By making small adjustments in our individual spending habits we can increase our savings, therefore enabling each person to achieve their goals,” said Vivienne Bayley-Hay, vice-president, group marketing and corporate affairs, at VMBS.

The “One Less” Savings Campaign was launched on Friday at VMBS’ Knutsford Boulevard head office. The campaign is aimed at educating the public on the value of savings, as well as the creative ways in which it can be done during a financial recession. Bayley-Hay told Sunday Finance that the she hopes that through the campaign the institution’s savings accounts will increase by between five and 10 per cent over the next year.

“The campaign is not only targeted at current savers but it has a thought provoking message for non-savers or persons who wish to save more, that they can process and make relevant to their circumstances and ultimately improve their lifestyle by achieving their goals,” Bayley-Hay added.

According to Bayley-Hay the ‘One Less’ concept will show persons that minor changes in their behaviour will lead to significant changes in their lifestyle over time. “The campaign also provides customers with tips, tools and financial solutions, which are presented both by our advisors and online at our newly developed savings focused website, www.whatsmytip.com. This will allow consumers to relate the information we provide to their own circumstance,” she added. The campaign does not suggest that savers totally eliminate the items from their budget, simply cut back on the amount spent on these items. “Small changes in discretionary spending can have significant results on ones financial well-being,” she said.

President and CEO of the Victoria Mutual Group, Richard K Powell noted VMBS’ focus on providing financial solutions and creating value for its members. “The savings campaign underscores the Society’s commitment to creating value for our members and customers,” he said.

“For instance, in a time when there is increased consumer awareness of even the fees associated with doing transactions with financial institutions, VMBS still offers our ABM cardholders facilities such as free ABM and Point of Sale usage, not only while using VM machines, but while using the machines of any and every financial institution. Providing these and other charge free benefits to our customers is geared towards boosting their savings, instead of adding to their expenses,” Powell said.