Dominic Browning, Managing Director
Posted by D Browning
19/03/20
News, Resources, Insight and Opinion from Browning Financial Planning

Automated Savings

Dominic Browning, Managing Director
Posted by D Browning
19/03/20

Saving regularly is one of the most important ways to increase wealth and achieve financial independence.

There are 2 types of saver:

Saver A will put any spare savings (if any) away at the end of the month and Saver B, who will pay themselves first at the beginning of the month.

Saver A rarely increases their wealth significantly as, whatever their monthly income may be, there is little left at the end of the month.

Saver B will, over a period of time, accrue far larger funds and will therefore have a much higher chance of achieving financial independence.

Which type are you?

So commit NOW to setting up a monthly savings plan (ideally an equity based ISA) if you want to have sufficient capital and/or income for your unknown future life.

If you are already doing so, consider increasing the monthly amount you put away. You will not regret it.

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