How To Afford Life's Important Milestones*

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*This is a Collaborative Post*

As we go through life, there are some milestones that are unavoidable. Even if we sail through our teenage years and early twenties not wanting to settle down, this perspective on life will often change. All of these milestones are things to be truly proud of. However, there is one major downside. They are often extremely expensive. But that shouldn’t put you off trying to achieve them, though! For the short term needs, there are options such as Guarantorloans.com, but for the big events, there are so many easy ways to drum up the money. Here’s how.

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University

There’s no escaping the fact that university is super expensive these days. Yet it remains a rite of passage for many young people. There are loans that you can apply for which will help you out with tuition fees and accommodation costs. However, these can take a long time to pay off after graduation. So try to be prepared and save up for university. Even if you still have to take out loans, saving will help you get together a big lump sum to put towards paying off your debts. If you can get a part-time job through uni, do so as well. This will be a regular source of income, so you don’t have to be too reliant on loans!

Weddings

Who doesn’t dream of their ideal wedding day? If you want a lavish ceremony, you had better start saving now! There are plenty of ways to save cash while you are planning your big day, though. Look online for engagement and wedding rings as some jewelers offer online deals. If you have a large garden, think about holding your reception in a marquee at home. This will reduce venue costs. Many people also get family members to bake their wedding cakes or do the catering for them. It’s a fantastic way to add a personal touch to your day!

Kids

Babies can make a big difference to our lives. They will fill our family with a lot of love, but they can also put an extra strain on your bank balance. Once you know you are expecting, start putting money into a bank account each week. This will set some money to one side for when the baby arrives. If any relatives have just had kids, see if they have any baby clothes that they don’t need anymore. Second-hand clothes will save you a lot of money!

First Home

Housing is getting more expensive as each day goes on. Therefore, it is super important to start saving for a deposit as soon as you can. Even if you don’t have much spare money, every little helps. Don’t just put your money into a regular current account. Look for a high-interest savings account that will pay a lot of interest, helping you to increase your money. There are now also many ISAs and savings accounts aimed at first-time buyers. Pop into your local bank and ask for more information on these useful bank accounts.

If you save money wisely, it will certainly go a very long way!

*Post contributed by Sam Jones*