This guide is not an investment manual. We’re not qualified to provide investment advice or tell you where to put your money. What we can do is tell you how to save your money, and suggest some places you can put it when you save it.
Before you invest your savings, though, you should take professional advice.
We’ve divided this guide into two parts.
In the first part, we talk about strategies for saving money.
Putting cash aside each month isn’t straightforward. It requires discipline and a habit, an awareness of how much you’re spending, and an understanding of the benefits of saving.
We’ll talk about how much you should save and how to track your spending so that you don’t save too little. We’ll discuss debt because owing can be the opposite of saving. There are some debts that you will need to clear before you can start creating a surplus.
We’ll also explain how to make cuts that will increase your pot, and set a goal to meet your target.
In the second part, we’ll discuss some of the places you can put your savings so that they grow. We don’t offer an exhaustive list or try to tell you which are the best places for you. Everyone’s priorities will be different. But we do want to show the breadth of the different options available once you have savings set aside.