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Save yourself from financial pain

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Most people agree that putting money aside for a rainy day is a sensible idea; life can throw up unexpected (and unwanted) surprises, de-railing your best laid plans in an instant. That’s why saving, no matter how insignificant the amount may seem, could potentially shield you from the negative consequences a lack of financial prudence can bring.

Why should I save?

Saving money regularly is an excellent way to help you budget for items which may normally be out of your financial reach; foreign holidays, buying a new car and home improvements can all be expensive initial outlays.

Long term, putting money aside for school and university fees, house moves and ultimately retirement is seen as a responsible and laudable attitude to financial planning for the future.

How much can I afford to save?

If you find that you have money left over at the end of your pay-week or month, then you already have a reference point for how much you can reasonably expect to save.

Even if your income doesn’t allow for you to save very much, re-prioritising your outgoings could allow you to strengthen your finances and add a little extra to your savings budget – getting into a routine can quickly generate an amount that may surprise you after 12 months!

What options do I have?

While you could always use credit cards or loans to pay for your intended purchases, these can often be a more expensive way of funding them rather than saving regularly; putting money into a savings account will generate interest, boosting the amount you have available.

For those who wish to save longer term and have a greater attitude to risk, investing in a stocks and share ISA or a Unit Trust could provide you with a bigger monetary return (although the value of your investment can rise and fall and access is usually restricted)

How can Clayton Holmes Naisbitt help me?

As Chartered Independent Financial Consultants, we are in a position to ensure you receive un-biased, professional and accurate advice. We could help you manage your money in a more efficient way, allowing you to focus on other important areas of your life.

If you think you would benefit from an initial no obligation meeting to discuss your circumstances, please contact us on 0113 3878240 or visit www.chnfc.co.uk

Clayton Holmes Naisbitt