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Seldom thought of ways to plan for your future

9 May 2019 No Comment

It’s in everyone’s best interests to save for the future. After all, luck can change just as easily as the weather, so it’s important to always have some funds stored safely away in the event of such a turn. That said, in a consumer and capitalist society, saving is one of those pursuits that’s sometimes often easier said than done – especially for the younger generation today.

It’s quite likely that by now you know of the usual ways to save your money, and perhaps these strategies on proving as useful as you once hoped. Therefore, what you really want to now is; do you know all the tricks of the trade?

Consequently, here’re some seldom thought of ways to save for your future!

Save Early

The question isn’t only ‘how to save’, but also ‘when to save’ too! Many people unfortunately assume that saving is something you do when you’re middle aged and burdened by a mortgage and family to pay for. Well, it’s not true. The best way to save is to do it as early as possible, so instil that sense of responsibility now if you’re young!

The usual tricks will help here; budget for yourself, audit your expenses, plan for retirement, and have pricey ambitions that you’ll fulfil later on in life to motivate you, and so forth. Granted, these aren’t seldom thought of, but if you carry all of these out if you’re young and fresh to the world of adulthood, you’ll be in a different headspace to many of your peers! In that sense, they are seldom thought of if you’re young enough to be stereotypically naïve with your money!

Value Change

Most people have no real use for change. However, this can actually be quite a damaging mindset to have. If money really does matter to you, then instead of discarding your coins or placing them in some forgotten drawer somewhere, make them a priority. Rustle up an old tin out or jar and put it proudly on display – your coins will sit nicely inside!

To start with, it won’t seem like you’re saving much. However, overtime, those coins will grow into something truly impressive. What will it look like in a year? Two years? Ten years? When it starts getting full, simply count and them and bag them up in order of value (1ps to make £1, for example), and take them to your bank. They’ll weigh them to reaffirm your estimations, then you’ll be able to trade those coins for cash!

Salary Finance

When thinking about money, thoughts often turn to work; how much are you making? How much of that money is being spent wisely, or conversely, going to waste? The questions here’re never ending, but your workplace can have more to do with your money than what you might initially assume.  

For example, you can take advantage of a salary finance scheme if your workplace is compliant with them. If they’re not and you’re in a position to make recommendations to a superior, then why not do so? These firms partner with employers to enforce financial wellness in the workplace, offering affordable loans, access to salary as it’s earned, and perhaps more appealingly, a more robust financial education. Ultimately, this is a great place to begin!

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