“Failing to plan has a similar result to planning to fail.”

Setting affordable goals in a suitable time limit is the key to saving for a given purpose, whether it’s buying a house, a holiday, school fees or for a car.

If your goal is £10,000 (perhaps for a new car) and you wanted to reach this goal in 4 years, then you would need to save £193 a month (assuming an interest rate of 4%) in order to achieve it.

We have some useful calculators to help you. Please click here to quickly calculate how much you need to save each month for a given target.

We also have a useful factsheet: which will help you to calculate a realistic budget. Click on the links below to download a copy:

Breakdown of Outgoings (excel spreadsheet)
Breakdown of Outgoings (word document)

Why do we need to save efficiently:

• Financial ‘ability’ gives you more choice.
• Make full use of tax allowances to boost your savings. Various schemes will have tax concessions from the HMRC (Inland Revenue). If you don’t use them, you’ll lose them!
• Performance of your savings will be eroded by inflation (cost of living) high charges and taxation. Risk to real growth could arise from having invested only in one asset class e.g. deposit account.

Depending on your needs and views to investment risk, we would help you work out which type of investment make-up would suit you. Please go to our My Money section where you can find information to help you understand the different saving schemes available. As advisers we can help you choose the most suitable provider.

Testimonial

"I've been a client of Savio’s for nearly 10 years and he has provided me with sound advice and solutions for both personal mortgages and investments. I couldn't recommend him more highly. He maintains the very rare balance between a personal and professional service. I trust him to put me first and go the extra mile to ensure he finds the right deal."

Anwar Harland-Khan, Director, MHK International.

Downloadable Guides:
Guide to Saving with an ISA
Risk Analysis Questionnaire

In order to view these guides, you will need Adobe Acrobat Reader. This is available free from the Adobe web site. Click on the logo to download a copy.

The FSA does not regulate National Savings and Deposit Accounts and some forms of Offshore Investments.