How To Balance Spending Now And Saving For The Future



1. Knowledge is power

The more you know about your finances, the more in control of them you will be. Write down your financial goals for the year ahead, the decade ahead and for the rest of your working life. Identifying your goals will encourage you to make plans to reach them.

2. Cut your cloth

Look at your income and your expenditure and see where you can save. Small lifestyle adjustments can save you money. Start a diary and note down all you spend. Review it after a week and identify some cost-cutting targets: could you go without your morning latte or smoothie? If you are spending more time pounding the pavements than doing weights in the gym, give up your gym membership.

3. Set up that pension

Set up a direct debit from your salary into a pension, as you would your gas bill or health insurance. Review yearly and increase the amount as often as you can.

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