Planning for the Future: Fun Things to Save Up For
Most of us work pretty hard. We’ll work nine to fives. We’ll take on overtime. Some of us have more than one job. Some of us have side hustles and side projects. But at the same time, many of us end up really focusing on the present – what we want and need right now and how we’re going to get by.
This is a shame. Really, when we’re working so hard, we should be saving and planning for the future. Having a big plan in mind can help to give you a focus to push towards, rather than simply feeling like you’re working endlessly to keep your head above water. So, if it’s time to give yourself motivation and inspiration to keep up the hard work, here are a few things that you might want to consider saving up for. The feeling of achievement when you reach your goals will be great. The reward that you’ve truly earnt yourself will taste even sweeter!
First Things First
If you’re going to save towards something, you’re going to have to set up a budget. A budget will help you to see exactly how much you’re bringing in, how much your essential outgoings amount to and how much you’re left with. The leftover money is known as your “disposable income”. You can do what you please with this without falling into debt. Now, many people spend it straight away – on going out, on small luxury items, on other bits and pieces. But if you put this disposable income aside into a savings pot, you’ll find that it mounts up and you’ll soon be able to buy something pretty exciting!
Exciting Things to Save For
Once you’ve got your budget in place, you can determine how much you can put aside and set yourself some goals on what you want to save up towards. Here are a few different options that you might want to consider!
A House Deposit
Nowadays, more and more of us are renting for longer periods of time. We can often feel that saving towards our own property is hopeless. That we are stuck in a rental cycle and there’s absolutely no way we’ll get the money together to buy ourselves. But the truth is, if you put a little away at a time, eventually, you should be able to get a mortgage deposit together. Buying rather than renting can make life feel a whole lot more rewarding. Rather than paying someone else’s mortgage for them, you’ll be paying your own off. Rather than feeling like you’re frittering money away, you’ll know that you’re investing in something that not only will you get to keep, but that should retain value over the years, if not gain value. So, whether you’re planning on eventually living in an apartment, a house, a cottage, an EC, a canal boat or any other type of home, it’s time to start putting away towards your deposit and looking forward to making your way onto the property ladder.
There are probably changes that you’d really like to carry out to your home. But home renovations don’t come cheap. Perhaps you’d like an en suite. Maybe a conservatory would give you a space to sit back and relax comfortably. Some people would like a new kitchen that they can enjoy cooking in. Some might like to have a bath installed so they can have a good soak. Whatever renovation you’ve been thinking of, set up a savings pot. You’ll eventually get the money together!
We all like a good getaway. It’s easy to get drawn into the monotonous routine of nine to five work. Commuting daily takes its toll. Stress and tension can build up and many of us can verge on a burnout much more regularly than we should. A holiday provides us with a break away from all of this. It gives us a chance to truly kick back, relax and let our hair down. It gives us something to look forward to in our calendar and it will give us something to look back on fondly once we return. So, choose a destination. Figure an around-about cost that it will end up being. Then put a little money aside each month until you have enough to actually head away. Try to choose somewhere that truly excites you. Somewhere you’ve always wanted to go. Somewhere luxurious. If you’re the adventurous type and have few responsibilities, you could even put a lot aside to take time out and travel the world!
Some of us have hobbies that we’d like to pursue but just never get around to. This is often because they are too costly. Maybe you want to learn piano, but lessons are expensive and you’d need your own piano to practice on at home to progress. Maybe you would like to try out ballet, but could do with your own barre at home to carry out daily exercises. Maybe you want to give pottery a go, but having your own wheel and kiln would allow you to progress much faster. Putting money into a savings pot to allow you to pursue hobbies can be great. Once you reach your goal, you’ll be able to buy whatever it is you need and you’ll have something to work on and look forward to.
A Luxury Purchase
There are big items with big price tags that many of us dream of owning, but can never bring ourselves to fork out for. Why not save towards them? Putting a little away each week or month can eventually help you to buy whatever it is that you may have had your eye on for months or even years. Sure, it may feel frivolous, but you’ll have earnt it and it’ll be worth it!
Of course, saving towards big purchases takes patience. But no matter how big the purchase may be, you should be able to get there eventually. Hopefully the above advice has got your mind whirring and will give you the motivation to start saving soon!