Saving for Those Special Moments – Shrewd Savings Tips for the Savvy Spender

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The pursuit of happiness is not a simple one, and it cannot be said that altogether many of us have cracked the code. In times of high living costs, higher poverty and lower wages, it can be hard to justify the long road to financial security sometimes – but that road is made all the more worthwhile for the milestones it passes. Saving money for the long term is one thing, but saving for special events is another. What are the special moments for which your money might be better destined, and what are some savvy savings tips to keep your money working as well as it can for you?

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Shrewd Savings Tips For The Savvy Spender

Saving for Milestones

It can be easily to consider retirement your ‘life’s work’. Particularly if you are maxing out pension payments and doing your best to give yourself the easy life. However, doing this can remove focus from the life you’re currently leading. And make you forget some of the major moments in the short and medium term that you could be missing opportunities with.

For example, wedding costs might seem frivolous, but a beautiful wedding day that meets your expectations will be something you look back on fondly for decades. Meanwhile, there is the matter of buying a house, starting a family, and ensuring said family gets the best possible life. And the best possible holidays!

Emergency Funds and Savings Pots

Saving for these might not be a simple undertaking, but there are some simple first steps to take. For one, you’ll need an emergency fund to cover unexpected costs like car breakdowns, home plumbing malfunctions and the like. For another, you’ll want to put a rainy-day fund together for those last-minute adventures.

In both cases, the more accessible the savings the better. This means checking out different types of savings account to ensure you are getting the best easy-access interest rates possible. Your emergency fund should come to around three months’ worth of wages. While your rainy-day fund should get topped up with any unexpected additional savings.


With regard to the longer-term savings goals, such as for retirement or for property, there is an involved route to maximising the amount you save. Investing in an index or tracker fund via a Stocks and Shares ISA enables you to access higher returns than the average savings account. Plus you can be enjoying tax exemption on any interest earned. There is an element of risk here, but tracker and index funds are amongst the lowest-risk products.

Accessing Equity

In later life, you will own property – and will have benefited handsomely from average appreciation over time. Giving your finances a quick boost can be as easy as downsizing to a smaller property. Or by relocating to a cheaper area. Indeed, you could sell up entirely and fund a move abroad to somewhere much warmer, much cheaper and much more enjoyable in the process!

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