Building A Nest Egg
Building a nest egg or saving for a rainy day are both common sayings with the same meaning - having savings for weddings, children or extra for retirement. Starting early means bigger savings in the long run.
People hear the word savings and automatically think they should be putting away half their pay, this isn’t the case.
Many use different reasons as to why they don’t save. For example, ‘I owe too much on credit cards’ or ‘I don’t get paid enough to save.’ Learning to budget and knowing what is coming in and going out each month, gives you more of an idea where you can save and it won’t feel like you’re living from one payday to another.
Creating a budget and learning to stick to it is a good way of tracking what your money goes on each month and you can see where you can cutback. The extra money can then become savings.
Investing your money in different ways to gain a return is another way of saving. We can help you plan your savings over a short, medium or long period of time and find the best solutions to help reach these goals. This may involve deposit accounts or a share based (pooled investment) depending on your age, risk profile and the term that you are looking to save/invest for.