Planning For Your Financial Future

Jul 16

As much as money is the bane of most people’s existence, you need money to survive. Money keeps a roof over your head, it keeps food on the table, it pays the bills, and it keeps clothes on your back.

So, what are you doing in order to save money for your future, to make sure that when you can no longer work you can still pay your bills and keep a roof over your head? Some people don’t even think of these things, and then they lose their job and panic sets in.


Start A Savings Account

Having a savings account and regularly putting money in it will have a huge impact on your future finances. Not only does it give you money for emergencies, and allow you to have a nest egg that gives you comfort and security, but it also gives you money for the future when you no longer have a normal income.

Another way to save money can be through investing. It’s easy to get started, all you need to do is talk to a financial advisor. Doing this can help ensure you have money when you are ready to retire.

Pay Your Bills Early

Paying your bills early, and paying off credit cards and loans quickly, help your credit and make you look good to loan officers and bill companies. Plus, if you do start to fall behind at any time it may also give you a break if most of your bills are already paid.

You can also look at cutting down on bills, like getting rid of stations you don’t watch to lower your bill for Sky or BT TV. The money you save can be put right into that savings account you opened up already.


Shop And Save

Start shopping around for better deals, on groceries and everything else you need in your home. There are many ways to save money when it comes to shopping.

Always have a list when you go to do your shop and stick to the list. Don’t buy things on impulse, since normally you’ll regret the purchase afterward, shop for healthier meal options too, a better quality of life is always something that will make you feel better about yourself. Only buy new clothes when you need them, not just because you think you need something new or you see something you like.

Plan For The Future

Part of planning for your future is ensuring that you have the money you need in order to retire, as well as money for emergencies, university and keeping your home running smoothly with all of your bills.

Make sure you have a good steady job so that you can always ensure that your bills are paid on time. One other thing about having a steady job is that the workplace pension is coming into play very shortly and your boss will have no choice but to offer you a pension which will help to keep you going when you’ve hit retirement age.

Your future can be bright, and you can have the money you need to keep living the life you live now. You just need to learn where you can cut corners and where you can still have fun and splurge so that life doesn’t get boring. One final tip, if you’ve had a mortgage, credit card or loan including a store card or car loan from 2005 to 2010 then you should ask yourself, ‘have I got PPI?‘ because it’s highly likely you were mis-sold PPI and could be owed thousands of pounds which is a great amount of money to help you hit your goal of planning for the future.