1. Set your financial goals.
Do you want to buy a house or a car, or save for your children ́s University education? They all require that
we set some goals and stick to them. Some tricks to obtain it:
• Prioritise your goals and set timelines of when you want them to be accomplished.
• Estimate how much your goals will cost and how much you can save on a weekly or monthly
basis to help you reach those goals.
• Create separate savings accounts for each goal.
2. Get involved in family finances and take out Life Insurance.
Taking out life insurance will give your family financial stability in the case of your death, you can
decide who the beneficiaries are, be your children, spouse, or parents. Life insurance is a cushion that
your family can fall back on to face the costs and any debts that are left after you are no longer here.
3. Set up an emergency fund.
Life is unexpected and it is important to be prepared for what can happen. Start by mapping your cash
flow and expenses to determine the money you can save each week for an emergency fund.
As an example, if you put away 10 € a week by the end of the year you will have 500 €, if you do this
every year it adds up.
4. Start saving for retirement.
Generally speaking, we will retire at 65-67 years of age, but we will live until our 80s or even 90s, this
is an average of 20 years more of life without earning an income.
These details put into perspective the importance of saving for retirement from a young age and
managing your income. The earlier you start saving the better off you will be in the future.
efpg,
can help you take charge of your finances, from your Life insurance to your Pension. Contact us
now for a chat.
