intellisaving

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support_at_intellisaving.com
Fantasy vs Reality of saving in the 21st Century
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There will be a thousand reasons to spend money,
but it can be hard to find one for saving. Are
you a fantasist or a realist when it comes to how
you save your money?
The human race tends to fantasise about aspects
of life that they would like to obtain, including
money and saving they may dream of saving and
having enough money for their dream car, house,
or holiday. Still, reality may not match
expectations for several reasons, such as
personal, social circumstances, or lack of
discipline over expenses and unawareness of the
range of best saving strategies. These factors
may contribute to not having saving goals, not
setting a budget and impulse buying.
The circumstances of everyday life can also
impact saving, such as unemployment, which causes
individuals to rely on government sources such as
universal credit, which is on the rise.
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As of January 2021, data recorded 6.0 million
people on universal credit, a 98 increase from
12th March 2020. There are also 4.9 million
households on Universal Credit for monthly
periods, covering 12th November 2020, 85 of
which received payment. Claims for universal
credit between 13th March 2020 and 14th January
2021 was 4.5 million. In the UK, the average
savings are 9,633.30, whereas 6.50 have no
savings and 25.95 have less than 1,000 in
savings. Moreover, if someone becomes redundant,
this has a negative impact on their ability to
save. According to statistics available on the
ONS statistics site, figures show that the rate
of redundancies has increased since the start of
the pandemic, surpassing the highest rate reached
during the 2008-2009 economic crisis. Employment
rates during January, March, September and
December 2020 decreased to 75.2.
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Having savings to rely upon in case the
unexpected happens, such as being made redundant
or unanticipated expenditure, is essential.
Financial experts suggest putting enough money
aside for at least three months of expenses.
However, in February 2020, sources found that 39
of adults (20.3m) did not have enough money to
cover three months if they were to suffer the
loss of their primary source of income.
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Tips The saving journey can be enlightening
when you take the proper steps forward. Before
starting your saving journey, create a plan of
what you would like to save for, how much you
would like to keep, how often you want to place
money into your savings account, which banks and
financial institutes you would like to entrust
with your money. As the saying goes, not
everything that glitters is gold, so one needs
to be really careful while choosing the best
rewarding product.
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There may be some obstacles that could make
saving more difficult. Still, there is always
light at the end of the tunnel as organisations
such as IntelliSaving equips individuals with a
platform that will help them save more
efficiently. In my opinion, the best way to
prepare for the future is to save money
regardless of the amount it will always add up
if persons are consistent with their saving
habits. IntelliSaving not only provides a market
view of the best available rates but also helps
keep track of all your savings on a single
platform. It also provides a personalised
portfolio of your savings so one can keep a
strategic control of their savings and its
growth. Start saving today it is time to make
some of those dreams a reality.
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GET IN TOUCH WITH
US Email Support support_at_intellisaving.com

Registered Office

INTELLISAVING LIMITED (No 12827813)

20-22 Wenlock Road, London,

United Kingdom, N1 7GU