People often find it difficult to know where to start saving, how much you need to put away, and what that money will amount to in the future.

The first thing you need to do is think about how long you want to save for.

Is it for two to five years, perhaps for a dream holiday? Is it for 30 years, planning in advance for retirement?

Most importantly, do you have an emergency fund?

• All financial planners encourage people to put aside an emergency fund, which is a pot of cash separate from any savings for those unexpected costs. So, if anyone is thinking about saving, make sure you have an emergency fund in place beforehand.
• Do you want to save for a short period, perhaps within the next five years? If so, cash savings are most likely a better option. You could have a look at bank interest rates and see which has the best one right now, and monitor these over the saving period and move your money around to benefit from the highest rate. Any longer than this wouldn’t be effective because the interest rates don’t keep up with inflation, so you could be losing money this way.
• For longer term savings, investments are more suitable, however if you are not confident and unfamiliar with investing, you need to consult a financial planner.
• Do you save regularly already? Have you reviewed whether or not your monthly savings are in the best place? There might be a new provider or a new product that might have better rates, lower fees, etc so shop around and make sure that what you are contributing is going to the best place for you.
• Danger of self-investing? Have you considered doing it yourself? Do you know exactly what you’re investing in and the dangers associated? You should always consult a professional financial planner if unsure or not confident.

We have an innovative online digital service so that people can easily get answers to the questions above – as well as answers to all the other financial questions you may have.

Our fact find is the first step towards a financial plan, so simply grab all the information you have and use your documents to fill it out. This will let us know where you are financially right now and what goals you want to achieve. After you’ve submitted it you’ll be assigned your very own customer coach. If you get stuck when completing the fact find, the customer coach can guide you through it. They will also contact you to get to know you a little better and understand what you would like to achieve and give you an insight into how having a financial plan can help.

They will then go away and create your own financial picture based on everything you tell us and send it to you in a video so that you have a clear overview of your financial situation. Only then will you understand what steps you should take that would be in your best interests, and how all of this fits into every other aspect of your finances by having a financial plan.