Written by Stephano Hartung

finances | Insurance

0 Comments(s)

6 Sep, 2021

It is very important to save and plan for the future. 

The earlier you start, the better. The question usually is, how much should one save monthly? 

The general rule of thumb is 20% of your income should go towards your savings. Now this would include your monthly pension/retirement annuities as well as your normal monthly savings.

Here are a few things which you should save for while you are in your 20’s:

Saving for the future – Your Retirement:

This is the most important saving you need to start with. The earlier you start saving for your retirement, the better you can depend on yourself when the time comes. There are various ways to save for this, including a pension fund (if your employer is part of a pension fund), retirement annuities, etc. Speak to a broker to discuss your options. 


It is important to have a small emergency fund to help you cope with unexpected expenses that may pop up.
I include funeral cover for loved ones under emergencies. Deaths happen unexpectedly and your loved ones may not have funeral cover themselves which means you will have to give your share or (as a worst case scenario) cover the funeral fully. If you have taken out a policy, it will pay out and you won’t have to use your day-to-day funds. 


We all have a hobby and it’s worth putting some savings away for something you love doing. You might need to upgrade your bike or buy a new pair of running shoes and these items are often pricey. It’s best to save for them.

A Home and a family:

Saving for your future home should be one of your main long term goals. New homes need furniture or the bank may need a deposit, and when one moves into a new environment is it only human nature to want new things in it. 

Travelling and Holidays:

Instead of paying for your holidays and travelling with credit cards or loans, rather start saving for these trips in advance.

A great idea is to plan a big holiday every 2 or even 5 years and in between these to do smaller and cheaper getaways. This will give you time to save. 

All the best 



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