Brits have well and truly fallen out of love with saving. A staggering third of people don’t currently saving anything regularly outside of their pension, according to research by Wealthify.
The research also revealed that of those who are saving, 1 in 10 (10%) have less than £500 saved, while over a quarter have less than £3000 saved. This means many people are falling well short when it comes to having an adequate emergency cash fund for those unexpected events. Most experts agree three months’ worth of expenses is a sensible buffer.
However, there are a number of things you can do to try and rekindle your love of saving and assure a financially happy ending…
Date nights – turn off the TV, pour yourself a glass of wine and get to know your finances again. You never know what savings you might find between the spreadsheets!
Spice things up – if you’re stuck in a rut, don’t be afraid of trying new things. There’s more than one way to help your money grow if it’s not reaching its potential, particularly if you’re comfortable taking a little risk.
Don’t take it for granted – successful relationships take hard work and dedication to flourish. Give your money more attention and you could soon be enjoying the payback.
Try online dating – If your current situation is just not working, it may be time to get out there and see what else is available. Be careful of offers that look too good to be true, they often are. If it’s a long-term relationship you’re after, investing could be just the commitment you’re looking for. With low fees and five risk profiles to choose from, you could find your perfect match at Wealthify.
With investing your capital is at risk and you might get back less than you put in.