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Your financial action plan

4 steps to help you build a better financial future

Taking action feels good

In these uncertain times, it can help to focus on the things you can control. And working out what your money’s doing for you now and where it might come from in future can give you real peace of mind.

Our financial action plan gives ideas and tips to make your financial life simpler and clearer, and give you more confidence.

We’ve broken it down into a series of actions that you can start on today.

4 steps towards a better financial future

1. Work out how much you can afford to save

A monthly budget is a vital step towards financial fitness. It’s the foundation of your action plan.

Nearly 13 million UK adults were overdrawn at some time during 2017.1 That's potentially stressful – not to mention expensive – so your goal with a budget is to have money left over each month.

A few hours spent figuring out where your money’s going could make a big difference.

2. Establish an emergency fund

What would you do if you were hit with an unexpected repair bill? Or, worse, if you lost your job? Could you rely on savings or would you need to borrow money?

If you've made a start on step 1 of the action plan, you'll hopefully have some cash left over at the end of each month. Managed to do this for a couple of months in a row? That's a great sign you're getting on top of things.

Rather than spending it, use it to start building up some reserves.

3. Protect the things that matter.

Let's be clear. An emergency fund is great for short-term emergencies. But if something terrible was to happen – and sadly, we all know cases where it has – an emergency fund will only go so far.

Protection could provide for you or your loved ones for years to come. 

4. Prepare for the big moments

OK, so you've got a handle on your spending and built up a decent buffer – great work. You're in a stronger position than many people. And this is the ideal place to start looking to the future.

Whether your focus is on buying a house, starting a family or starting a new life after work, having more money will help make those big moments happen.

So, how can you make your hard-earned cash work harder? 

Whatever your level of knowledge or confidence, we're here to show you where the stepping stones are, so you can build a robust financial action plan

The key is to get started. Because those first few steps could be the beginning of a very different future.

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