Here are 3 ideas that can get you saving even when you don’t have any money.
#1 – Let your employer and the government save for you
Your employer should already have set up a pension for you and you may be making some small payments in. But did you know that every time you put money into a pension the government top it up by 20%. What’s more a lot of companies now match what their employees pay in. So you pay in £100, the government pays in £25 and your employer pays in another £100. That’s £125 free money!
#2 – Stop paying fees
Some banks charge an account fee for additional services like mobile phone insurance and breakdown cover. The deal is probably not great so question whether you really need that premium account.
#3 – Round up your spending
Every time you spend, round up the cost to the nearest pound and deposit the difference into a savings or investment account. Rounding up just £1 a day, over a year that’s £365 and if you earned 6% a year investing it, your total pot could be worth just under £2,000 in 3 years time! Just spending as you normally would.
For your own personal Financial Director to run your family finances call:
Carl Roberts FPFS, Chartered Financial Plannercarl@rtsfinancialplanning.co.uk // rtsfinancialplanning.co.uk
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