The importance of saving
Posted by Adrian Lowcock in Latest insights category on 25 Jun 20
Here are a few reasons why we save:
- Rainy Day - Life is full of surprises, and cash savings give you the flexibility to deal with them, whether that is replacing the leaky boiler, paying the bill for fixing your car or coping with a sudden loss of income. You will need some money set aside for these emergencies to avoid going into debt to pay for your necessities
- Retirement - If you are in or close to retirement, you will probably need a mix of savings and investments to take the place of the income you will no longer get from your job
- Wedding - To pay for a wedding these days you are going to need to save money and with the costs rising significantly in recent years it could take a few years to build up your savings pot to pay for it
- Deposit for a house - To get on the housing ladder today is difficult. House prices have rocketed over the past 20 years and so has the size of the deposit required.
Without money put away in savings and investments, you open yourself up to other risks as well and it may force you into taking a loan that your savings might otherwise have covered.
We recently launched Smart Savings
. An online service, which offers both notice and fixed-rate accounts with a range of terms to choose from. You can build a portfolio of savings products from a range of banks all in one account, providing you with a flexible savings portfolio.
|New Cash Service
Smart Savings is a new cash savings service from Willis Owen. It is a one-stop solution for your cash savings
You can access a range of highly competitive fixed term and notice accounts all conveniently in one place.
Find out more