to cope if you lose your job or suffer some sort of emergency. In the current economic climate, this savings cushion should ideally cover you for at least six months.

3. Don’t worry if that sounds like a lot of money to put away. Just save what you can afford even if it’s only a small amount every month. You’ll be surprised how quickly your emergency fund grows. Set up a direct debit or standing order into your savings account which collects the money from your current account the day after you get paid. That way, you can be sure you’ll manage to save something every month.

4. Most importantly of all remember this is your emergency savings so don’t be tempted to dip into it for other non-essential spending. For example, if you want to save some money towards a holiday, make sure you put it away in a separate account. It’s important to keep your emergency fund for that purpose alone.

You need to ask practical questions, such as:

  • What will University Education costs be?
  • Will I be able to afford to help meet wedding costs?
  • How will I meet the cost of health cover?
  • What are your financial goals?
  • What is our attitude to financial risk?
  • Can you make lump sum investments or regular savings?
  • Is your money invested in the most tax efficient manner?
  • Do you know what charges you’re paying?
  • Do you have clear understanding of your financial goals?
  • Are you aware of all potential risks?

Unfortunately these types of everyday questions will not go away, and are more likely to become more important to us over the next few years.

The one lesson the past few years have shown us, is that every little bit counts. We’ve also been reminded that the earlier you start panning for the unknown, the less stressful it will be.

Before you decide to invest your money, consider these points:

If you are already saving, consider:

Southeast Financial Services offer savings and investment advice to suit your personal requirements, to include your individual circumstances, your age and risk profile. We also provide a comprehensive on-going review service.

Remember. A rainy day is not so bad when you have planned for it.


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