Saving for the things that matter: A nest egg for peace of mind
Thursday, May 19, 2016
“I’ve built savings habits that will help to guarantee my future”
Gemma, 35 from Southampton, opened a tax free savings account with Foresters Friendly Society when she was aged just 28. Putting aside a little money each month enabled her to build up savings habits that will last a lifetime, as well as a tidy nest egg for the future. She tells us more…
“I first heard about Foresters from a friend. She told me all about the company’s mutual status and I decided to take out a Tax Exempt Savings Plan.
“I had tried other regular savings accounts previously, and I still have an online account, but I found early on that it was difficult to resist dipping into the money if I knew it was there. I like that the plan is tax free and keeps my money out of reach of any frivolous spending.
“When I first started saving I was really broke. I was living on my own and training as a beauty therapist. I didn’t really have to make any big cutbacks to put that money aside, but I know that if the savings plan hadn’t been locked away I probably wouldn’t have been able to resist the temptation to spend the money I was trying to save.”
A guaranteed cash sum for the future
“These days I don’t even notice the money going out, I’ve become so used to it that it’s no trouble at all. I’m glad I built up that habit early on in life.
“I love the fact that my money is guaranteed, so I know that I’ll get back at least what I pay in over the 15 years I took the plan out for. The additional member benefits Foresters offers, such as the discretionary dental and optical grants, were also a big draw for me.
“My life is very different now compared to how it was 10 years ago. I am married and have a nine-month-old baby, so it’s great to have that money put aside. With a new baby I’m keen to explore what children’s savings options Foresters can offer me to save for his future.
“When my plan matures in eight years’ time, I’m not sure if I’ll take out the cash or carry on saving. Either way, it’s good to know that the nest egg is being built, and that’s exactly why I started saving in the first place!”
Find out how you could save for your future with the Foresters Tax Exempt Savings Plan >
- This blog is intended to provide information, not financial advice, to help you make an informed decision about savings and investments. We do not offer financial advice. If you want financial advice you should contact a financial adviser, who may charge a fee.
- Tax rules may change in the future and depend on individual circumstances.
- The addition of bonuses is not guaranteed.
- The membership benefits we provide aren't regulated and are regularly reviewed by us to ensure they are relevant to our members.
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