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Saving Tips For The Future

I remember when I was first starting out in my working journey, being offered the chance to contribute to my pension fund. This made me laugh, I had years ahead of me to save for my retirement.

My Dad gave me lectures on how important it was, to start to save now, about all the things that would come up in years to come. I just shrugged it off, as anyone of my age group would do, as we knew best.

How wrong I was, I am now in my 50’s and it seems like I blinked and got to this age.  My Dad was right, you are never too young to plan ahead.

Savings

One thing I was always taught, and also helped others with when I worked for a Building Society. It is important to save money, whether it is for a deposit on a house, money for a rainy day, or a special event like a wedding.  If you get into the routine of saving regularly, it is something you do naturally.

There are many ways to save from apps that do it for you, to ISA’s or regular saving schemes.  I have had the same conversations with my kids, about the importance of saving and having that account there for emergencies,

Retirement

Most companies offer a pension scheme, and it is never too early to plan for your retirement.  With many people looking at retiring earlier than previous generations, it is important to plan early if this is something you are looking to do.

Some people, plan alongside a pension fund by making investments in property or art.  Often from inheritance they have received.

Planning A Funeral

Photo by Rhodi Lopez on Unsplash

The one subject no one likes to discuss is death, and funerals.  Often found to be too morbid and upsetting, to discuss a loved one dying.  My Mother-in-Law has arranged her funeral and instead of talking to my Husband or Sister-in-Law.  She has outlined everything to me.

I keep telling her, I do not want to think about it, but in her words she knows how hard it is, and wants to take all the stress and worry out of the planning.  This way we have it all arranged.

What plans have you made for your retirement?

About Author

I am Sam and owner of StressedMum, I hope you enjoyed reading my latest post, I always love to read comments from my readers

26 Comments

  • Carolyn
    19th March 2021 at 9:47 am

    You are very right, it’s never too young. I am about the same age as you and I am in shock at that fact and how much action I need to take to secure my financial future. I few years saving to a pension in my twenties has reaped wonders, wish I did it more years!

    Reply
    • admin
      19th March 2021 at 10:44 am

      It is scary how quickly you reach this age, it is so important to start to think of these things at an early age

      Reply
  • Laura
    21st March 2021 at 2:45 pm

    I’ve always put money into my pension since starting work, you just don’t know what the future holds and I want to make sure I am as comfortable as possible in my retirement.

    Reply
    • admin
      22nd March 2021 at 7:54 am

      It is never to early to start and ensures you are doing all you can for your regtirement

      Reply
  • Claire Lomax
    22nd March 2021 at 5:54 pm

    I think saving is the most valuable thing we can do for our future. For a long time I was a single parent and could barely afford bread some weeks! So now I am more comfortable I genuinely take pleasure in watching my savings build up.

    I have had a proper pension in place since I was 29 and I now wish I had started much earlier x

    Reply
    • admin
      23rd March 2021 at 10:09 am

      I think at some stage through life, we all go through times when money is very tight, and you have no alternative but to take a break from saving. Another reason to start early.

      Reply
  • Everything Enchanting
    23rd March 2021 at 12:16 am

    I can relate to this! When I joined office, the first thing my mom also told me to put at least some portion of my salary to the pension fund! Thanks for sharing these helpful saving tips

    Reply
    • admin
      23rd March 2021 at 10:02 am

      It is never too young to start planning for retirement, the earlier you start is better

      Reply
  • Michael
    23rd March 2021 at 6:22 am

    Appreciating the funeral plan more and more. Its a different investment since those plans will help not you but your loved ones.

    Reply
    • admin
      23rd March 2021 at 10:00 am

      Facing having to plan a funeral is hard for anyone, but taking that stress and worry away is the last thing you can do for your loved ones

      Reply
  • Rebecca Smith
    23rd March 2021 at 10:08 am

    I haven’t made any plans for retirement yet, that’s so bad isn’t it? I really need to get something started.

    Reply
    • admin
      23rd March 2021 at 10:11 am

      You are not alone, I know a few people who have not made any plans, it is never too late to start

      Reply
  • Melanie williams
    23rd March 2021 at 10:42 am

    Many people are without plans for retirement, it can be hard to make time to save especially with all thats going on, so these are some good tips x

    Reply
    • admin
      23rd March 2021 at 10:49 am

      I know a few people without plans for retirement, I was talking with a friend over the weekend and they are looking at putting money into property for retirement. I think with what we are currently going through and other things that life throws us, starting young gives us that breathing space when we do need to watch what we are paying out on

      Reply
  • Rhian Westbury
    23rd March 2021 at 12:48 pm

    I’ve upped my pension contributions at work a bit, although I do want to do it more in the future. I’m also setting up investments and a LISA for my partner to add up over the years for our retirement x

    Reply
    • admin
      23rd March 2021 at 1:12 pm

      You can never plan enough for retirement and increasing contributions and looking at the future is something we all need to look at from time to time

      Reply
  • MELANIE EDJOURIAN
    23rd March 2021 at 6:05 pm

    We’ve had a possible bad diagnosis for a relative. It seems they might not have long but seem to be making as many arrangements as they can at the moment. I’m not sure if they are arranging their own funeral though it’s a bit of a hard one to handle.

    Reply
    • admin
      24th March 2021 at 10:02 am

      I am sorry to hear about your relative, it is such a hard topic to discuss

      Reply
  • Jenny
    23rd March 2021 at 7:53 pm

    We have our pensions and will have paid off our mortgage by the time we retire.

    Reply
    • admin
      24th March 2021 at 10:00 am

      I think making sure you are mortgage free is the biggest thing you can do to plan for retirement

      Reply
  • Fiona+jk42
    23rd March 2021 at 8:44 pm

    We tried to be very diligent with savings through our 30s and 40s, but then an unexpected family emergency meant we had to cash in our policies to help a relative who was going to lose their home. I often wish I’d actually placed the money somewhere impossible to touch. The relative we “lent” to has never paid us back.

    Reply
    • admin
      24th March 2021 at 9:58 am

      I have heard a few stories like this, we help and do our best to be supportive to those close to us. Which often is thrown back in our faces, we have been through similar this past year.

      Reply
  • Michael Fisher
    25th March 2021 at 6:18 am

    Alongside a pension fund the first savings plan is a cash ISA, tax free and easy access for those emergencies

    Reply
    • admin
      25th March 2021 at 9:56 am

      I totally agree with a cash ISA as it offers the best interest rates but is available if needed for an emergency

      Reply
  • Kaz Dee
    25th March 2021 at 6:10 pm

    I really need to think about my financial future – I am a bit naive about it all I think and only worry about the ‘now’. Kaz

    Reply
    • admin
      26th March 2021 at 9:49 am

      You need to think about the future as well as the now

      Reply

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