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As you become accustomed to earning an income, many people start thinking about their long-term financial goals – such as saving for a home, a family, building retirement funds or investing to secure your future.  

There are several steps young investors can take to secure their financial future, such as budgeting, planning, starting early and acquiring financial knowledge along the way. Although this is not exhaustive guidance, our suggestions aim to help you at the start of your savings and investing journey. 

Budget and track expenses

This is the starting point for most people and can help you identify how much you can save month to month, whilst also highlighting the areas where you could cut back on unnecessary spending.  

Clear any unsecured debt 

Unsecured debt (loans not backed by collateral) is typically expensive and should be cleared as a priority, as well as any expensive secured loans, such as hired purchase agreements that can be cleared without a penalty.

Carrying unpaid balances on credit cards can be extremely expensive, even over short periods of time, and will likely outweigh the potential gains available through investing. If you struggle to make scheduled repayments, this can also impact your credit worthiness, which can in turn impact your ability to access other important financial services from other providers. 

“Life is really simple, but we insist on making it complicated.”



Create savings pots to cover the short, medium and long term

We follow a three-pot approach. Start by building up a rainy-day fund, which is typically 3-6 months’ worth of everyday spending. Once in place you should also ensure that any larger capital expenses (e.g. a car or education costs) needed in the next five years, are also saved into cash or cash equivalents. Anything beyond this, represents your ‘lifetime savings’ which you could look to invest for your longer-term financial goals.  

Start investing early and keep it going

Einstein once said “compound interest is the eighth wonder of the world. He who understands it, earns it… he who doesn’t, pays it”.  So, the earlier you can start the better, as with time on your side, even smaller amounts can build over time. Forming the habit of putting spare funds aside is a great foundation and you can increase the sums if and when you can afford to save more. Having some clear goals, will keep you motivated and feed into how and what you are investing into.   


“compound interest is the eighth wonder of the world. He who understands it, earns it… he who doesn’t, pays it.”

Albert Einstein

Capital at Risk

You may not receive back the same amount you put in when you choose to cash out your savings. Tax treatment depends on individual circumstances and may change in future.

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Maximise tax-efficient wrappers

Sheltering your surplus income and any capital available for investment into tax wrappers (like an ISA or a pension) ensures that tax doesn’t become a drag on investment return. These wrappers form the backbone of a tax-efficient financial plan.  

Measure your progress (but not too often) 

Periodically track the performance of your investments and your progress against your savings goals.

However, try to avoid checking too often and particularly when markets or the economy can be turbulent, as this can cause undue stress or in a worst-case scenario, cause people to make panic decisions.  Investments should be long term and ideally your decisions should be planned. 

Invest in your financial education or outsource to a professional 

Some basic knowledge can be helpful for new investors, and as your savings grow and circumstances become more complex, you may want to continue to build your financial knowledge. Our How to Guides are a good starting point.

Many people do not have the time or inclination to research investment decisions and tax options, and for these people, working with a professional who can guide them through their savings and investing journey is a good option.   

Our investing app service

Our app-only service, Silo can be a great option for newer investors or those looking to contribute smaller amounts regularly into an ISA, Junior ISA or General Investment Account.

Anything you save into the app is invested on your behalf, into one of several low-cost funds, based on your objectives and attitude to risk. Funds offer a convenient and efficient way to invest in a basket of well-diversified investments.

Investment App (Silo)

“A Managed service can be a good option during the early years of investing, whilst building knowledge and experience.”

Mike Pate



If after reading this you feel you are on track, try browsing ‘Financial goals for your 30s and 40s’ or our Life Moments content on specific financial planning and investing goals.

Alternatively, explore our investing app or get in touch to arrange a consultation with one of our Advisers, to discuss how we could partner with you to help you achieve your goals. 

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