Are you saving enough for your retirement?
About 30% of UK households have savings of £250 or less - enough to last for just 5 days in an emergency.
Do you live from pay cheque to pay cheque, unable to make any savings?
Try and cultivate the habit of paying yourself first when you receive your pay cheque.
Set up a direct debit from your current account that takes 10% of your salary to a savings account.
It may be difficult at first but with time you will adapt and make adjustments to your expenditure to accommodate your savings.
Aim to save enough to cover 6 months of expenses.
Do not start investing without having this buffer. If not you will end up selling your investments to meet unexpected financial expenses. These emergencies are part of our life, like the sudden breakdown of a washing machine or boiler.
Learn to pay yourself first. Cultivate that habit today and watch your savings grow.
Anyone can achieve financial freedom and security. You have to actively plan for it.
Do not procrastinate. Start saving early to give you the freedom to invest.
https://www.amazon.com/Smart-Common-Sense-Investor-Investment/dp/0992654513
