Regardless of your age or income, it is always a good idea to seek advice about savings and investments. Doing so will help you to explore all of the options in a far more in-depth manner so you can decide which is best for you. It will also help you to look at all of the fine details so you don’t end up choosing an option that comes with tough terms, hidden costs or big risks.

An important piece of advice is that it is never too early to start saving and planning for the future. There are many different types of savings plans you can choose from, whether it is locking a lump sum away in an ISA to gain interest or depositing smaller sums a month to build up your funds slowly over time. The earlier you start saving the more interest your money will gain in the long term, meaning that the pot will be larger when you come to needing it.

Starting to save earlier in life provides a safety net for unexpected costs in the future too, reducing the need to resort to credit. When you pay for items or services using a credit card and are unable to pay the card off straight away, you naturally have to deal with paying interest. This means that those large ticket items could end up costing you much more than their value, especially if you need to take a number of months to successfully pay them off. With savings you can avoid this.

Saving between 5 and 10% of your salary every month can provide big benefits in the long run. This money will quickly build up and grow as it acquires interest. The longer you save it the more you will make and the more security you will have against unforeseen financial shocks.

At Robert Carlton we offer a wide range of services, including advice about savings and investments, and cater for clients of all ages. Our independent financial advisors in Middlesbrough can offer impartial guidance, prioritising the needs of our clients as an advisor should. Clients from across the region can come to us for all the service and support they need.