Dreaming of an exotic summer getaway or finally getting those pesky home renovations completed this summer? It’s easier than you think to bring your ideas to reality. Believe it or not, you can top up your savings, do up the garden and still have enough left over to book a last-minute trip.
Just a few savvy decisions and sensible choices can help you make time for more of the things you love. Whether you’re saving for a rainy day or something a little more extravagant, make it happen with our handy tips.
Organise your finances
To get cracking on your nest egg, you’ll need to get organised. Yep, that means going through all those bills you stash away in the ‘messy drawer’. Keeping all your paperwork in one place isn’t just practical. It’s a great way to keep an eye on what’s going in and out, and spot any places you could be saving extra cash.
It’s also important to find super-simple ways to keep on top of bills and payments. Try arranging all your direct debits to go out on the same day or set reminders on your phone so that you’re always up to date. Easy.
From the weekly ‘big shop’ to restaurant visits, it can be difficult to tot up just how much we spend on food and other necessities each month. But keeping a tight handle on your monthly expenses means you could be heading off on that dream holiday a lot sooner than you think.
Batch-cook hearty meals, give up takeaways for three months or even swap supermarkets. There are lots of ways to make small savings that soon add up, without depriving yourself of all the treats you enjoy.
And don’t stop at your food bill. Use price comparison sites to make sure you’re getting the best deals on utilities and insurance. If you aren’t, switch to a cheaper provider and add the difference into your savings account.
Clear debt before spending
When you hit retirement, leisurely lunches, impromptu shopping trips and weekends away become the norm. But to enjoy these well-earned treats for years to come, make sure you’ve cleared that credit card bill from years ago.
When it comes to saving for the future, it pays to be proactive. Set up regular repayments, get straightforward guidance from a financial adviser or stick to a realistic budget plan. Before you know it, you’ll be back to seizing life to the fullest, every day.
Make sure you’re on the right pension plan
With so many other things to think about, choosing a pension plan can fall to the bottom of our to-do list. But finding the right plan now means you’ll be able to save more cash for when it counts.
Your pension plan should be tailored to your lifestyle. Instead of snapping up the first plan you’re offered, look for the best deal for your circumstances. In fact, 80% of retirees get better pension annuity rates when they shop around.
Not sure where to start? Have a chat with one of our friendly experts. They’ll search the whole of the market to find the deal that’s right for you – and talk you through each step. Start your journey and explore your options today.