v THE NEXT HERALD IS OUT ON 3RD APRIL v Page 68 • The HERALD • 13th March 2025 ASK A PROFESSIONAL AUTOMATIC FOR THE PEOPLE by Michael Osman, Oyster Financial Planning Not only was this a great album by REM but also the inspiration for this months article. Doing something regularly makes something a habit eventually. Whether that’s walking the dog or doing a workout eventually that activity will become a habit. It’s the same with money and saving. If you break life’s big expenses down into smaller bite sized chunks everything is then achievable. If you automate the saving of money, whether that’s into a bank account as an emergency fund, or into an ISA for something longer term or even saving for retirement. Get into the habit as soon as you can. I’ve o en said before that new parents should get into the habit of putting a regular sum of money away into a Junior ISA to build that nest egg for the child when they turn 18. Likewise for your children and grandchildren encourage them to save 10% of their wages as soon as they start work. Start to build up that house deposit by starting regular savings as soon as you start work so you will then not miss that money which makes it easier to save. Same with retirement start early and keep doing it. Funds can accumulate over time and can also bene t from the e ects of compound interest which really can help savings and investment goals be achieved. Create a plan, work out what’s needed to be saved to achieve the goal then automate this by setting up a regular payment and once this habit forms you can sit back and watch your savings grow automatically. If you want to discuss any savings or investment goals please do get in touch. 023 8084 8410. michael@oyster nancialplanning.co.uk. Michael Osman, Oyster Financial Planning
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