Five tips to get your sav­ings into shape

Gloucestershire Echo - - YOUR MONEY -

SPRING is fi­nally upon us, and when many of us are spring clean­ing and de­clut­ter­ing our homes, it may also be a good time to pol­ish up on our fi­nances.

Emma-lou Mont­gomery, associate di­rec­tor for Fi­delity In­ter­na­tional, offers five top tips to get your sav­ings into shape:


WHETHER it’s sav­ing more into your pen­sion, or start­ing a reg­u­lar in­vest­ment, make a com­mit­ment to set some of your hard-earned cash aside for later use. While savers can put up to £20,000 into an Isa an­nu­ally, not ev­ery­one will have that much spare cash. For those with smaller sav­ings, in­vest­ing lit­tle and of­ten into an Isa is still ben­e­fi­cial.


WHETHER you’re try­ing to keep track of sev­eral pen­sions with pre­vi­ous em­ploy­ers, or you’ve got sev­eral dif­fer­ent Isa ac­counts or too many funds in your in­vest­ment port­fo­lio, it may be time to sim­plify your fi­nances and chat to a fi­nan­cial ad­viser.


SLIM down your out­go­ings by cut­ting back on what you don’t use. Eg. Gym mem­ber­ship.


KEEPING up with im­por­tant is­sues and get­ting to grips with how they af­fect you will put you in bet­ter con­trol of your fi­nances.


ONCE you’ve got your sav­ings and in­vest­ments in shape, make sure you keep them that way. This may mean ad­just­ing how much you’re in­vest­ing and what you’re in­vest­ing in.

Com­mit­ting to an an­nual re­view will en­sure you keep on top of your port­fo­lio.

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