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Six Things You Should Be Saving For Right Now

Life is full of things that we should all be saving for and some of these things are bucket list items. There are plenty of ways that you can save money for both the long and the short term, but what could you be saving for? And more than that, what SHOULD you be saving for?

Everyone has their own things to save for and aim for in life, but there are six specific things that you should be looking at saving your cash for. Below, we’ve got them listed and why you should be saving for them. Let’s take a look!

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Saving To Pay Off Debt

It’s a no-brainer. You need to be able to get rid of your debt if you want to afford anything else. Things like the MortgageCalculator.Org can help you to work out your affordability for a new house, but you can’t buy that house unless you have paid off your debt and brought your credit up. Debt can be a giant blackhole and it makes everything swirl into it – so start saving and paying off what you owe!


Whether it’s appliances that have broken down, or you have a medical emergency to pay for, you need to consider saving for emergencies. At any moment, something can happen to you and you need to be able to pay for it. A few thousand dollars at a time on a medical emergency can rinse your funds, and so you need to save for emergencies before they happen.


No one wants to think about being without a job, but everyone has the potential to be laid off at any time. You can’t predict it’ll happen and you need to be prepared just in case it does. It’s important that you have money to fall back on if it does happen, and it can make the search for a new job far less stressful!


Everyone needs to retire at some point in life, and it’s so much easier to do that comfortably. Saving for retirement should start as early as possible in life, but it’s never too late to have some money put aside for it. There are programs in which you can invest, too, so that you can save more money for the years you don’t plan to work.


Whether it’s for you, or for future children, you should consider saving for college. Education is so expensive these days and if you want your kids to go to Ivy League schools, you should think about how you intend to support them. You want to offset the costs where you can, so contributing from birth is vital!

A New Boiler

Lastly, everyone should be saving for a new boiler! These things break down and they’re not cheap to replace. Sure, insurance should cover it, but if it doesn’t you need a back up! Your savings are the backup you need and you should invest in specific insurance for your boiler, too.

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