Starting out

Start your regular savings young

Regular savings

It is universally agreed that saving money regularly when you’re young is an important lesson to learn..

Besides getting you into good habits, saving money when you are young can only help your future. For example, if you can hold onto a good portion of the money you earn as a teen, going to college or buying a house later on will be much easier. The earlier you begin saving the more time the money has to grow with regular savings interest rates.

What happens if I do not save regularly?

If you do not save regularly from an early age, as time goes on as you accumulate more real life expenses, it will get harder, but teach yourself young and it will be a lifetime habit that will pay for the deposit on your house, a car or a pension. Saving early also eases your future; you will be able to retire at a reasonable age, so it is best to start now.

What we offer?

We can provide advice and guidance on how to start saving and where you should do it. As no two people are the same, we won’t give generic advice here. Rather, please get in touch so we can talk about you.

Making sure you are covered

Life is full of the unexpected, that’s why it is important to make sure that you have income protection. Protecting your income with an income protection plan gives you peace of mind if you find yourself unable to work due to ill health or accidental injury. Income protection pays you a tax-free replacement income until you are able to return to work, whether this is after a day or much longer term, subject to your deferred period.

What happens if I do not have Income protection?

Without income protection you will only receive the standard statutory sick pay which is currently £86.70 a week (April 2013/14). The amount is decided by the government, and is payable subject to certain rules and conditions (see below) for up to 28 weeks.

What we offer?

We can advise on income protection solutions which are straightforward, simple to arrange and unique to you, providing:

  • A pre-agreed income you can rely on, if you can’t work due to ill health or accidental injury
  • A plan that’s affordable and easy-to-arrange, giving peace of mind to you and your family
  • Continued benefit if you go back to work in a reduced capacity, with a reduced salary
  • Tax free payments under the current rules, although this might change in the future
  • A teleinterview over the phone with a friendly medical professional, to make sure our records are accurate and the plan is right for you

Making small sacrifices for the future

Saving for a pension plan is most likely the last thing on your mind right now. However, start saving for your retirement now, and you will be thankful in time. Just tucking away a small amount on a regular basis can really add up.

Saving for your pension plan is easier than you think; it’s not some complicated and boring process that should be put off – but a savings scheme with great tax advantages. The downside is that you can’t touch your pension plan pot for decades. But that’s because a pension plan is simply a way to save for your future, and is why the government has insisted that your employer contributes. That’s right, your employer will put in a percentage if you do.

What happens if you do not pay in to a pension plan?

Why should you save for your future now? There is going to come a time when you can’t work anymore and therefore can’t earn. That may seem a long way off but the sooner you start saving for that future, the sooner you will ensure it’s a happy and enjoyable one . If you actually sat down and did the sums of how much you will need for retirement (cost of living calculator) you may be quite shocked, hence the need to start early.