Money Tips – Planning For The Future

Last year I decided to make the decision in 2020 to go self-employed full time. Because I was employed, since I was 15 I must add! my employers have always arranged my pension and benefits. But here I am now making these decisions for myself. Planning for the future is exciting, you don’t know what it will hold for you. But being a money-savvy person I’d like to be as informed as I can be, and to have enough in a pension pot to retire.

Money Tips - Planning For The Future

Retirement Planning

Planning your retirement can be tricky. There are variables to consider, such as when you want to stop working, how much money you will need to live comfortably, and where of course you get that money from. It can be confusing of knowing where to start. But I quite like this retirement plan calculator from It breaks down every point for you and is tailored to your retirement needs. It will create a schedule for you and you can even print off a report. Other related calculators are ones on your net worth at this moment and annuities. The annuities page is quite useful. Not only does it give you a deeper understanding of what annuities you can get, but also the calculator will let you know the present value of an annuity that you could receive in cash in the future.

Family Budgeting

Not having a steady wage coming in each month, has got me thinking about other ways of budgeting and living frugally. I want to be smart with my finances, I already meal plan each week and bulk buy some frozen foods each month. But how can I extend this further? With my daughter starting school in September, I can see those unexpected school costs coming, like school trips and friends birthdays. So an extra money pot will be required for these things.

I have found it interesting looking at this family budget planning calculator. I’ve never actually looked at one before, so I was pleasantly surprised that it was broken down into expenses I’d never even thought about, like charitable gifts and clothing. The calculator gives a percentage range from a low end to a high end for each expense, so you can fit yourself into what you feel comfortable with. Using this calculator has benefits to see how your monthly wage could be broken down. If you have any outstanding debts, this is brought into the plan so you can budget for paying them off.

Other useful family planning calculators include this meat serving cost one. As a family, we do eat meat, but it can be expensive. This is the first time I’ve discovered a meat calculator. You can compare the cuts of meat and costs, plus it’s perfect for looking at how much meat you need per person if you are having friends over!

Family budgeting - buying meat

I used to buy brand name products. I thought they were better than the supermarket’s own brands. But after watching a couple of TV documentaries showing how generic products are actually the same as branded but without the name, I made the switch for my family. By using this generic vs brand product calculator I can easily see how much money I can save in my lifetime! It’s mind-boggling!

There are many helpful calculators online to help with planning for the future and saving money here and there. It’s fascinating to see where the savings can be made and where this money could go.

Thanks for stopping by today, I hope you’ve enjoyed this post.

rachel bustin
Thank you for sharing

3 thoughts on “Money Tips – Planning For The Future

  1. It really must feel amazing to be in charge of your own money and work. Ive just been made redundant and finding it difficult to get a new job that fits around the school hours so self-employed may be the way.

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