@sawbridgefp: Don’t get this wrong 👇🏻 So, you’ve completed steps one and two, right? No? Go back and do those. Done? Cool. This step will seem similar to the last one, but it’s a subtle and important difference. It’s about what you do and when. Creating wealth starts with habits. Good habits, things that you start doing, feel a bit painful, and then you get used to… and become the norm. Most people will only look to “put away” money that feels spare… i.e. what’s “leftover” after they have done all of their spending and essential savings each month. People who truly care about their future wealth will invest, then save, then spend. It’s a small difference but it will make a huge impact on what you achieve over time. Again… invest, then save, then spend. An example of how this may look for someone who earns £3k per month might be: £300 invested for the future £700 saved for holidays, Christmas and Birthdays, car bills etc. £1400 on essential bills £600 for whatever you like - meals, drinks, clothes, whatever. Your break down might be different based on your bills and what you save for… that’s not the point of this example. The point is, before anything else, you’ve taken care of your future. If you don’t already do this it will feel like you’re worse off and a bit “broke”… but after making the adjustment and getting used to it, it will serve you incredibly well. The next stage is to just make sure that investment figure goes up as your income does, to make sure it’s always the right amount of what you earn being paid to future you. 10%. Get it done. Every month. First up, as soon as you’re paid. Future you will thank you. Unsure on where the 10% should be going? That’s where I come in, see link in bio for more on what I do. Like money content? Make sure you’re following me! #financialplanning #money #financialeducation #moneytips #financialliteracy #financialgoals #ukfinance #financialfreedom

Tom | Financial Adviser

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Wednesday 15 January 2025 08:25:22 GMT