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Saving | 7th November 2018

Financial planning: it’s easier than you think

With all the news about Brexit, ever-increasing property prices, and the age of retirement being raised, the future has become a little more uncertain. However, putting plans into action now instead of later can make all the difference. Financial planning goes a long way. We’re not saying that you should save every last penny and not enjoy your hard earned cash today, but we are saying that putting some money aside and making sure your future is secure is critical. And best of all, it’s not as difficult as it might seem.

Planning and budgeting

As with anything else in your day to day life, planning makes everything easier. Without setting goals, it can be difficult to track your spending and keep tabs on what you buy. On payday, take note of what bills need to be paid and other expenses. After that, set aside budgeting costs such as groceries and travel. Whatever is left is now your disposable income. From this, you can set goals on what it should be used for. If you can cut down on unnecessary costs like coffee, snacks, or takeaways you’re likely to see a noticeable difference.

Track your spending

Although you should enjoy your money without missing out on social events, hobbies, and small luxuries, you should also make sure that you’re aware of how much you’re spending. Living payday to payday can cause a lot of anxiety; cutting down on some costs can help to close this gap. You might think a chocolate bar or iced latte doesn’t make much difference, but this regular spending on snacks can quickly add up.

Be realistic

When planning what you’ll do with your disposable income, be realistic; don’t set targets that are impossible. Try to plan out what amount you’ll put aside each month. Start by saving a small amount and slowly increase it. As your impulsive buys decrease, your disposable income will increase. You’ll be well on your way to saving like a pro in no time.

Today, not tomorrow

One of the most essential parts of financial planning is to start saving today. We all make a habit of saying we’ll do it tomorrow, whether it’s dieting, going to the gym, or saving money. But we’re here to tell you that the most effective attitude to have is to start sorting your finances out today.

Now that you’re equipped with these necessary tools to start financing your future, you can rest easy and stop counting down the days until payday.
Once you feel comfortable in your saving habits, you might want to consider taking an extra step and investing into an ISA. This tax-free way to save might help you make the most of your money – ready for a rainy day, holiday, or house.

Apples for Oranges is here to help you to invest in a range of products and diversify your portfolio. In the UK, there’s a lot of uncertainty about finances; however, ISAs can help you to save without the worry. Find out which one will work best for you with our comparison tool.

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