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    Saving for the future is important and we can help you select the right product to achieve your goals

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2014: The year to make saving a priority

As we enter 2014, now’s the time when people are thinking about their New Year’s resolutions. The second most popular resolution last year was to save money, with reading more books in the top spot and losing weight at third.

This ambition to save more is a promising sign, however, the reality is somewhat different. The results from our national survey of more than 2,000 people show that 29 per cent admit to currently saving nothing for retirement.

In 2014, everyone should resolve to save more and borrow less. Our survey showed that people in the South East took on an average of £406.30 of new debt and saved £674.10 over a three month period, meaning they had net savings of just £89 per month.

We recognise that people are struggling to save anywhere near the amounts that they will need for retirement and, when they do, they are often undermining their efforts by taking on expensive debt on credit cards or payday loans. We need to change this pattern.

To make this happen, it’s clear that there needs to be better education around savings and investing. Only 17 per cent of those surveyed felt that they had sufficient financial knowledge.  This is why 2014 will see the launch of the True Potential Centre for the Public Understanding of Finance’s first free access personal finance education module in partnership with the Open University. This will be available through Future Learn, the international MOOC (Massive Open Online Course), as well as the Open University’s own OpenLearn and iTunes U channels.

By providing the education and tools to make investing simple, we believe that we can pave a better future for everyone and one where personal goals become reality. 2014 is an exciting year for True Potential and for those members of the British public who are prepared to make saving a priority, a more comfortable retirement can become something to look forward to.

Sam: 3rd Jan 2014 16:39:00

 

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  • Pensions

    Pensions+

    Whether you're saving for retirement or you are facing decisions at retirement, we can help

    View more
  • Savings Planning

    Savings+Planning

    Saving for the future is important and we can help you select the right product to achieve your goals

    View more
  • Mortgage Advice

    Mortgage+Advice

    We are specialists in arranging mortgages for First Time Buyers, people moving home, 'Buy to Let' mortgages and remortgages.

    View more
  • Investment Advice

    Investment+Advice

    Make the most of your money and don't leave it languishing in Building Society accounts

    View more
  • Equity Release

    Equity+Release

    Allows you to access cash tied up in your home - speak to one of our qualified advisers

    View more
  • Protect Insure

    Protect+Insure

    We can shop around for the lowest cost life cover, income protection and critical illness cover

    View more