10 Sep 2020 • 4mins • Yolt

How to future-proof your finances: Top tips from the experts


When it comes to your money, there’s no time like the present to start thinking about your future. But sometimes that’s easier said done. Between all the financial jargon and everyone’s own opinion popping up over your family dinner, just knowing how to get going can be a bit of a whirlwind. So, we caught up with three experts and asked them to share their own no-nonsense tips to future-proofing your finances.

Maria Nedeva, Professor and Founder of The Money Principle

Maria is a professor at the University of Manchester and is the Founder and Chief Editor of The Money Principle. Maria trusts in the rule of three, and shared her three prong-approach to future proofing your money.

“It’s difficult to capture the art of future proofing one’s money in a single piece of advice; so, in order of importance I suggest that you:

1) Always make sure you have easy access to cash for investing opportunities and to live on for up to three months. This timeline seems arbitrary, but I believe three months is enough time to regroup and decide what to do (if disaster strikes).

2) You need a big and exciting dream to money proof your future. Take some time to dream-up the future you love (without allowing your inner ‘critic’ and ‘accountant’ to take over; there is time for that later).

3) Check whether your employer participates in a pension scheme before looking at anything else. Normally, this is a great deal because of the matched contributions.”

Jasper Martens, Chief Marketing Officer at PensionBee

Jasper heads up the marketing at pension fintech, PensionBee. He stresses the importance of knowing where you stand with your finances right here and now, especially when it comes to pensions and investments.

“Get on top of all the old pensions you've built up over the years when switching jobs. By the time you're retiring, you’re expected to have an average of 11! If you don't know how much you have now, how are you supposed to know how much you need to future proof your retirement? Consider consolidating your pensions or making them more visible through apps like Yolt.

Once you know what you have, invest in yourself monthly by contributing into an investment ISA, savings account, pension or any savings product you've chosen to future proof your financial self.”

Kalpana Fitzpatrick, Personal Finance Editor and Blogger

Kalpana is the personal finance editor at Good Housekeeping, Red and Prima magazines; she is also the Founder of her money-management blog, MummyMoneyMatters.com. Kalpana stresses that long-term goals – and understanding what matters most to you – is key to future proofing your finances.

“Know what your goals are. You’re more likely to be mindful of your spending, and have a greater focus on saving, if you know what you want in life. Stick a picture of something you’re saving for on your wall to help you keep your eye on the prize.”

A bonus tip from Yolt: Get mindful with your money today and imagine yourself in the future

At Yolt, we’re on a mission to empower everyone to be smart with their money – today and tomorrow! Before you start thinking about the future, we think you have to know where you stand now. From checking in on your money every day to visualising your life goals, we like to call it ‘Money Mindfulness,’ Once you know where you’re at with your money, start thinking ahead – where do you want to be in a year? What about five years or ten? Think about future you and what you can do today to help you get there.

Have any tips of your own? Join the conversation on Twitter @getyolt!