Ndubuisi 'Andy' Egwim walks through a simple system: set up an automated direct debit to a separate account for saving and investing, use it for specific goals like ILR, then invest once those are met. The amount varies by person, like 500.
500 (unit not specified)
Might be less for some people here. Again, remember, everybody's at different levels, so 10% of that is 500. If you set up a direct debit every month, 500 goes out and it's going into a separate account. That account is only for two things. It's for saving and it's for investing. It's nothing else. Obviously, if you have other needs, like if you have a debt that you need to pay, then that account is for paying off your debt first, then saving and investing. If you are saving for ILR in the future, that account is for saving for your ilr. And then when you pay your ilr, it's for investing. If you can save more, that will be great. But if you can't save more, that is fine.
