Posted by & filed under General, Health, Investment.

Save money? Easier said than done! We all have financial goals to save money for, whether it is a new car, a deposit for a house or a holiday to the beach. The big question is how do we achieve these goals?


There are so many buzz words around savings, ISAs, fixed rate bonds, shares, pensionsb& the list is endless, but none of these products will help you if you donbt have a clear plan on how you will save money.

The Important tip to save money

You must have a plan you are willing, and able, to stick to. These are three simple steps to achieving your goal:

Step 1:

Work out how much you can save every month. It is probably more than you think. After you have worked out what costs you canbt cut, such as direct debits, food and transport, you can start to see how much discretionary income you have. This is income which you can decide what to do with. You will then have to decide how much you want to spend and how much you want to put towards savings. A good way to work this out is to do a quick calculation of how much you need and divide that by how long you want to wait for it.

If you feel like this number is too high, it might be worth thinking about the little things you could change that will make your money go further, things like bringing lunch from home rather than buying a sandwich every day, it may not seem like it will make a difference, but saving a little every day at work will make a large difference over a month or a year.

Step 2:

Set up a direct debit to a savings product that suits you. Do this on pay day so that you simply canbt spend more than you have budgeted for. That way, you wonbt even notice youbre saving because the money will go out straight after it goes in.

Step 3:

This is perhaps the most important step toward achieving your financial goal, if a savings regime isnbt sustainable then itbs no use at all so a review every few months is a must. Try and save money in small amounts at first, but try increasing it as the months go on. You may find that youbve tried to save too much and youbre not enjoying life as much as you want, or you might find that saving a little more is easy and will lead you to your goal that much faster. Itbs very important to find the right balance and be happy with your decision or you will simply start to resent saving and stop doing it.


If you need any personal advice on how to save money, please do not hesitate to contact us

Leave a Reply

Your email address will not be published. Required fields are marked *