Saving & Investment GuideIt has become increasingly evident over recent years that difficult situations in life can crop up at any time. Whether it is redundancy, sickness or the need for a new household appliance, having some money saved up can help tackle these situations head-on and thus avoid the pain of debt and financial difficulties. As a result, it is crucially important that you start saving to avoid financial worries now and in the future. |
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Savings and Investments is a practical and easy-to-follow manual that offers clear advice and guidance on a range of issues to do with saving and investments, including:
How do I start saving?
When should I save?
What saving options are there?
What is the difference between investments and savings?
How do pensions work?
Introduction
Until very recently, saving money hadbecome increasingly unfashionable forindividuals and households due to theease of accessing credit from banks and otherlenders. Instead of saving to buy that new car or to help oneself copewith unexpected redundancy or sickness, many of us were content toborrow and pay back later.However, as the repercussions of the global financial crisis have unfolded,and it remains difficult to access credit, it is painfully obvious that manyindividuals who have been made redundant will simply not have enoughmoney to prevent them slipping into considerable financial difficulties.
Indeed, a survey from TNS Omnibus found that 32% of people made redundant would fail to meet their current living expenses in the first month, with one in six defaulting immediately. Just under half (43%) of working adults questioned had sufficient funds in place to survive more than three months. This is why we are beginning to see people increasingly thinking about savings so that they have some cushion to protect themselves if the worst happens.
If you have not done so already, now is the time to take control of your finances and start planning for the future by beginning to save.
Further reading
