Alexander & Co. introduced a very interesting infographic called The Financial Saving Guide: ISA’s, Banks and first time buyers.
According to this data savers say that money in the bank helps them toward their independence (84%), confidence for risk management (92%) and even being proud of their achievement (89%). However, 50% of Britons are quite unhappy with their savings and 33% are worried about it.
General Saving Tips:
1. Pay off all your credit card debts
2. Aim to sae 10% of your monthly wage
3. Write your financial goals down – increase your chances by 49%
4. Decide on Short/Medium, Long term goals.
5. Aim to save 6 months of take home pay for an emergency nest egg
6. Follow 90/10 rule – In case of big bonus, spend 10% and save 90%!