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Set a financial goal and win £5k

 (Please note – this competition is now over, but we hope you still find the information useful).

If you’ve never set a goal to improve your finances then now is the time and you could also be in with a chance to win £5k. Read on and see how.

We all want to achieve things in life – get fit, buy a new car, save for a holiday or to save for our children’s future.

But often we fail when it comes to saving for these dreams and desires. We start a diet to lose a few pounds but we don’t stick to it. We say we want a new car, but never manage to save enough and we want to make sure we can provide for our children when they are older, but again we don’t have a savings plan.

But why do we fail? Lack of goal setting has been cited as one of the key reasons we fail to deliver on the promises we make ourselves.

But according to research, sharing your goals could make a world of difference when it comes to achieving them.

 

So, why set a goal?

You’ll be surprised at just how much goal setting can change everything. For example, if an employee with 5-9 years’ experience typically earns £30,708, a ‘goalless’ saver is only likely to save £1,646 a year into a pension, whereas someone who sets a goal is more likely to stash away £2,226 a year, according to research from Zurich Insurance.

Sharing your goals can achieve:

  • Accountability
  • Encouragement
  • Motivation
  • Clarity
  • Support

You can share your goals with friends, family, a support network or even a professional.

Although it may take time to achieve the goal you want, sharing it means you are more likely to achieve it – after all, no one likes to go back on their word and the pleasure of sharing the success is also hugely motivational.

Financial moves to make to help with your goals

When you’re trying to save for something big, it’s not always easy, especially if you have children, where unexpected expenses are the norm.

But careful planning means you could put money aside each month, which could for example include putting it into a stocks and shares ISA, such as Zurich’s FutureYou ISA. With poor interest rates on traditional savings accounts, stocks and shares ISAs can deliver higher returns, as long as you are saving for the long-term – at least five years and ideally 10 years.

  • Maximise your ISA allowance (£20,000 for tax year 2017/18)
  • Make the most of other tax efficient saving, such as pensions. If you want to know how much you might need for retirement, see Zurich’s pension tool here.
  • Do weekly meal plans to save money on food
  • Carry out a financial MOT, which includes renewing service provider contracts and cancelling what you don’t need
  • Ditch the take-away coffee – this will save you hundreds of pounds

And finally, how to win £5k

MMM has teamed up with Zurich Insurance to offer you the chance to win £5k.

All you have to do is Share Your Goal.

To enter – share a description, photo, or video of your life goal experience using hashtag #ShareYourGoal as part of your post – which you must tweet, or comment on the Zurich Facebook page. You can tag Zurich at @ZurichFutureYou on Twitter.

Four winners will win £5k to put towards their life goal, a bespoke life-goal experience and a financial assessment.

All winners will be announced by April 17. You can see the full terms and conditions here .

 

 

Disclaimers

This is a collaborative post with Zurich Insurance.

MMM does not give financial advice and is not responsible for any action you may take based on the content of this article.

Investments can go up as well as down.

 

 

 

3 Responses

  1. Carol Wilkinson says:

    My life goal is to save enough money to take my children on a safari experience. This would be the trip of a lifetime and I hope they would remember it for the rest of their lives. I want them to see the world and understand the importance of looking after it. I am putting aside £50 a month to try and save for it, but obviously it is quite a few years off at the moment.

  2. Carol Wilkinson says:

    My life goal is to save enough money to take my children on a safari experience. This would be the trip of a lifetime and I hope they would remember it for the rest of their lives. I want them to see the world and understand the importance of looking after it. I am putting aside £50 a month to try and save for it, but obviously it is quite a few years off at the moment.
    #ShareYourGoal

    • Kalpana says:

      HI Carol, thanks for sharing. Please share on Zurich’s FB page for a chance of winning! Good Luck.
      Kalpana

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Reduce your grocery bill by 70% this summer!

The kids are off school and they are going to be hungry – inevitably, the next few weeks will see the cost of your weekly shop shoot up.

To help families keep the costs of food shopping down, MMM put Approved Food to the test, which can help slash the cost of shopping by as much as 70%.

There is of course one catch – the food is past or close to its sell-by date, but perfectly safe.

With a £30 budget, MMM managed to bag a fair amount – cereals, tinned food, sweets and treats, drinks and even laundry detergent and dishwasher tablets – the sort of things where you can generally ignore the date stamped on the product.

If you’ve tried reducing the cost of the grub by switching brands or shopping at discount stores but think you can do better, then try Approved Food  – you’ll be surprised at just how much you could save on some store cupboard essentials.

New products are available everyday and there are some real bargains. For example, Sprite Zero 330ml for just 29p or a 2kg Reeses Peanut jar for just £2.99. There’s even stuff for pets, at more than 50% off.

MMM was really pleased with service and surprised at just how at just how much £30 would buy (see pic above/ instagram).

Although we would like to see Approved Food cut down on the cardboard packaging, the items arrived well packed and in excellent condition.

So, if you’re looking to save a few more pounds on your groceries, take a look at Approved food – you’ll be surprised at just how good the bargains are.

 

Keep up with MMM on Twitter @MumMoneyMatters and Facebook !

 

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