Preparing For The Future- Make The Most From Your Money

Preparing For The Future- Make The Most From Your Money

In the current day and age , knowing what to do with your money and how to look after it is becoming much more important. This is partly due to the increase in uncertain economic circumstances surrounding the UK as well as factors such as brexit as well as the global recession have contributed to much lower interest rates for everyone.

Saving Money

Saving money is an important skill which is not becoming as commonly used as it has in past generations. Around the UK increasing numbers of people , especially young people have been drawn towards payday loans to try and meet late bills and also credit deals for cars.

As a result people often fall into more debt and more than ever people are using all of their funds rather than saving money in order to meet their bills etc. This is an issue that needs to be tackled within society as many people upon leaving school have not been taught about finance and can fall victim to loan sharks or credit card companies that charge high interest rates.


As part of saving money budgeting is an important and relevant part of the saving journey and can greatly assist people with really making the most of their money overall. Budgeting is basically a process where people assign a certain amount of money to different products that they are looking to buy. Often these can be filtered into categories such as essential and non essential items. One effective way in which this can be done is by starting an excel spreadsheet detailing what items are needed. This helps to consolidate your budget overall and keeps it present in your mind. Without budgeting your finances you may overspend and could end up in debt if repayments are not made when you borrow money.

Buying Property

Saving for property is another important financial decision which many of us have to make at some stage in our lives. However home ownership is becoming increasingly more difficult to obtain. This is because home deposits often require at least 5% of the property’s value which is often a fairly significant amount of money. In previous generations a much smaller deposit given and many more adults of that generation owns their own property. A good way in which to buy a property is to try using the help to buy scheme which is currently active. Through this scheme , people can deposit a set amount of money which can then gain interest over time to the point that it is sufficient to support a deposit for a property.


Overall there is a lot that can be summarised about how you best use your money to support yourself. It is apparent that there are a number of hurdlers that people have to beat before they can meet their financial goals. One final tip for those who are saving money is writing down your goals or getting an app that tracks your financial activity and adds tipsbbo help you in the app.