This Easter make sure you hatch a plan for your own tidy nest egg!

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This Easter make sure you hatch a plan for your own tidy nest egg!

Lifetime news

Posted on: 31/03/2024

Happy Easter everyone!

While this weekend the children and grandchildren might well be busy hunting for colourful eggs and devouring chocolate Easter bunnies, it’s also an ideal time to think about getting your finances in order and hatching a plan to ensure your own tidy nest egg for the future.

Of course, saving is a useful habit to adopt all year round, but sometimes it isn’t all that easy! According to Lifetime’s latest employee survey, 58.17% admitted to feeling that they didn’t have enough savings. And when asked ‘Do you have a plan for the next 12 months to help you navigate the cost of living crisis?’, 65.59% said no!

Here’s five helpful tips on how to build and take care of your own nest egg this Easter:

1: Set goals and create a financial plan to achieve them: By taking control of your money – and having a clear understanding of your financial position – you may be able to offset anxiety and stress, and in doing so make good financial decisions, rather than merely guessing. A financial plan shows you where you are now with your finances, and shows you what the future looks like. It can also demonstrate different scenarios, which can incorporate your future goals and ambition, for example finishing work earlier than planned, buying a new house, or funding a child through university.

2: Make use of tax-efficient allowances: It is important to try and shield your growing nest egg from the erosive effects of tax. Lifetime can offer guidance on such things as ISAs, stocks and shares and pensions. We are committed to making sure your money works for you.

3: Protect the people you hold dear: One of the most important elements of planning is protecting yourself, your loved ones and the future you want. By incorporating this into your overall plan you will be better prepared to deal with life’s ups and downs.

4: Don’t put all your eggs in one basket: While cash savings can offer valuable peace of mind, and keeping an emergency fund for unexpected events is important, relying solely on cash for long-term savings may not be the most beneficial option for you. Spreading your ‘eggs’ between the ‘baskets’ of savings and investments may be a worthwhile move.

5: Get some help if you need it: Sorting your finances and having a clear, flexible plan can have a positive impact on your life and wellbeing. If you are unsure of how to go about it then Lifetime can help. Book a free 15-minute chat with a Lifetime coach: https://outlook.office365.com/book/[email protected]/


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