ICR 110: Saving For Tomorrow, Today
In this episode of Informed Choice Radio, Martin talks about saving for tomorrow, today.
There is also a roundup of the latest personal finance news and an update from the world of Informed Choice.
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Saving For Tomorrow, Today
This episode of Informed Choice Radio was prompted by an email from listener Tony, who was looking for direction about saving for the future.
Tony wanted to start investing a small amount each month for the long-term, but didn’t know where to start.
In this episode, Martin talked about the cost of using investment platforms to make regular investments and then shared his top seven tips for saving for tomorrow, today.
1 – Start with a plan
2 – Build the foundations first
3 – Set it and forget it
4 – Keep it simple
5 – Don’t pay any tax
6 – Save more as you earn more
7 – Don’t beat yourself up
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Personal finance news update
-Millions of savers have been hit by further interest rate cuts in August, according to Moneyfacts.
-House prices have picked up slightly in August, according to the latest Nationwide House Price Index.
-The Financial Conduct Authority has banned an adviser and fined her over £100,000 for lying about qualifications.
-More than a third of people aged 18 to 24 have debts of almost £3,000 and live with significant concerns about money.
-Young Brits are looking forward to a greater later life with three in four millennials expecting their quality of life to be improved or maintained in retirement.
Useful links mentioned in this episode
–Boring Money on investment platforms
–One Plus One Equals Three: A Masterclass in Creative Thinking by Dave Trott
–How to Make Great Radio: Techniques and Tips for Today’s Broadcasters and Producers by David Lloyd
–Martin’s new personal website
Get answers to your personal finance questions
Do you have a personal finance or investing question for Martin?
Email martin@icfp.co.uk or ask on Twitter @martinbamford.
You can call our dedicated podcast voicemail line on 020 8144 2745 with your question or visitwww.speakpipe.com/InformedChoicePodcast to leave an online voicemail.
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