How your savings goals can save the world
Updated: Sep 23, 2022
This post is sponsored by Shepherds Friendly.
Saving for the future can be a challenge, after any monthly bills, household utilities and other expenses have been paid it can be difficult to set aside a fixed amount to save. This is why having a goal to work towards can be a huge motivator.
Shepherds Friendly carried out research and asked an audience of 2,097, “Which, if any, of the following are you currently saving for, either solely or jointly?”
The results showed:
· A holiday - 30%
· Not applicable - I am not currently saving for anything in particular - 27%
· Other - 18%
· For my retirement - 16%
· To "do up" my home (e.g. decorating, new furniture etc.) - 16%
· To buy a home - 12%
· To buy a car - 9%
· A new piece of technology (e.g. a phone, tablet, laptop etc.) - 6%
· Don't know - 4%
· A "high-end" item (e.g. a new handbag, watch etc.) - 3%
Setting up your own savings goal is simple. Start by looking at all of your outgoings each month, and ask yourself if anything is unnecessary. E.g. money spent on takeaways or an extra streaming subscription. You can also shop around and try to find the best bargain possible to cut down utility costs. E.g. switching energy providers or switching to a discount supermarket.
While working towards your personal savings goal is a great motivator, another is being able to help save the environment and help society while doing it. Shepherds Friendly have introduced their new Sustainable Stocks and Shares ISA which invests your fund in a range of sustainable companies that are leading the transition to a low-carbon economy or driving social and economic development, whilst aiming to get you a return on your investment.
This way once you’ve reached your savings goal and use your lump sum, you can rest easy knowing that your investment with Shepherds Friendly has helped advance a variety of sustainable factors. Such as, tackling climate change, campaigning for human rights and helping make business more ethical etc.
A Sustainable Stocks and Shares ISA with Shepherds Friendly can be opened from just £30 a month (or a £100 lump sum). Start your savings journey now, set your monthly goals and help save the world, as every investment, no matter the size can have a big impact on a variety of environmental, social and governance tactics.
Remember: When investing, your capital is at risk. In poor investment conditions a Market Value Reduction (MVR) may be applied.