Planning for the future. It is so important isn't it, it's perhaps one of those things that we don't really think about in the teen years when foot loose and fancy free but when you start hitting your twenties and then your thirties (erghh) it really is time to think about planning for the future. We are still to sort our wills (it's on our to do list) but we do both have pensions and currently own a house that we rent out in the hope that it is an investment for the future, who knows if that is the case, but we remain positive!
I hope to take example from my parents who decided when they were near to paying off their mortgage they decided to invest in a loft conversion to make the most of their home and to maximise the maximise the value of their home. To They recently used this handy tool and saw how much their house had increased in value and they were excited to see how having a loft conversion could also improve this in the future. I'm pleased to say it all paid off and they have a marvellous space to use in what used to be the loft without losing much loft storage space - it really is quite clever what they can do these days! While I have been thinking about ways to plan for the future I asked a few bloggers how they are planning for their future, here are a few of their ideas below.
Jen from Just Average Jen suggests - Be honest with your partner about everything financial because otherwise you can't actually plan realistically.
Pete from Household Money Saving states - Start putting small amounts away as often as you can. The sooner you start, the bigger amount you will have when you reach retirement.
Ross from ISA blog - Get a junior ISA as soon as possible. I took one out for our daughter on the same week she was born. Any money she gets off people goes straight in there.
Lylia from advises Lylia Rose - Since having children we have planned for the future by writing wills and starting to save an emergency fund. I've also started a pension in the last year as I never had one as I'm self employed. Knowing we will be financially secure in the future or that our children will is very important to me.
Finally, Chloe from Life with the Busbys says - Not just financial, but just year by year. Like married in this year, baby in this year hopefully. Next year’s aim is a holiday.
So as you can see there are lots of ideas that you can plan for the future, it's certainly something that I want to focus on, I want to be able to lead a comfortable life but also to ensure our children do to.
How do you plan on planning for the future?
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* Collaborative content.