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Warren Shute’s simple tips, like switching to own-brand products and reviewing utilities, can help anyone save more for retirement with small, manageable changes
Saving for retirement doesn’t have to be complicated. According to Warren Shute, one of the UK’s leading Financial Planners, small, everyday changes can make a big difference.
For over 20 years, Warren has helped wealthy families manage their finances. However, he realised many people didn’t feel comfortable reaching out to a Financial Planner because they felt they didn’t earn enough or were put off by the term “Wealth Manager.”
Warren, author of The Money Plan, believes everyone, regardless of income, can take control of their financial future with just a few simple adjustments. These changes don’t require drastic sacrifices, just smarter choices with the money people already have.
Here are five simple steps Warren recommends to save money now and boost your retirement savings.
Supermarket own-brand goods – just as good, and cheaper
Warren advises swapping branded items for supermarket own brands. They’re often just as good, if not better, and they cost much less. The savings might seem small, but over the year, they add up. Redirect that extra money into your pension.
Review utilities – and get paid to switch
Many people are paying more than they need for energy or broadband. A quick review using comparison sites like uSwitch or Quidco can uncover better deals. You could even get cashback or incentives for switching. That money can be invested in your pension.
Switch to FreeSat – or review TV packages
If you’re still paying for expensive TV subscriptions, Warren suggests reviewing your options. With streaming services offering plenty of content, there’s no need for costly cable or satellite packages. FreeSat provides a wide range of channels for free. The money saved here can go straight into your pension.
Utilise local libraries – borrow books and audiobooks for free
Warren recommends using public libraries instead of buying books. Libraries let you borrow books, audiobooks, and e-books for free. The money you save on books can be used to boost your retirement savings.
Shop around for big purchases – use price comparison sites
When buying big-ticket items, always use price comparison websites. A little research can help you find the best deals, and the savings can be directed into your pension.
By following these simple steps, anyone can save more for retirement making small wins add up over time. The smaller sacrifices won’t feel suffocating and over time they will add up to make significant savings.