In the UK we love to complain about the weather, especially about rain. We’re constantly moaning about how it’s always raining and we rarely get any sunshine. But why are we so focused on bad weather? According to the Met Office, the UK gets an average of 133 rainy days each year, meaning we get 232 dry days. Surely we should start focusing on these instead?
The same can be said of our saving habits. When it comes to looking after your money, you’ll often hear people talking about the importance of ‘saving for a rainy day’. Life is unpredictable, so you should be saving your money to prepare for the unexpected. But where’s the fun in that?
There are plenty of other options to cover you for life’s unexpected rainy days, so why not save your money for life’s sunny days instead? A rainy day fund implies that something bad might happen, whereas a sunny day fund means something great will happen.
Depending on when you’re planning your sunny day could dictate how you save. A longer horizon should mean you can earn significantly more interest, providing of course you’re happy lock it away for a fixed term.
Start planning your sunny day
You’ve worked hard to earn your money, and sometimes it can be hard to put it out of reach – and to leave it there! To help fight the temptation to spend it straight away, start planning what you’ll eventually spend it on when your sunny day arrives.
Maybe you’ve always wanted to travel and see the world, and spend your time daydreaming of where next to cross off your map. Putting some money aside could help fund that around the world trip you’ve been dreaming about for years.
Perhaps you’re a bit of a petrol head, but have always been stuck with reliability over excitement when it comes to your cars. Think about how great it’d feel to treat yourself to that Jaguar you’ve always wanted.
Or maybe you like to think of yourself as the next Gordon Ramsey or Jamie Oliver. A sunny day fund could help you splash out and upgrade your home with a state of the art kitchen.
A fixed objective
If you’ve planned your sunny day, whatever it may be, you’ve got something to aim towards. If you don’t need immediate access to your savings and can afford to tie some of your money up for a longer period, you’ll not only create certainty around the interest rate you earn it’ll probably be higher.
With fixed rate savings you’ve got a fixed objective. You’ve even got a timeframe: one, two or even five years from now, you’ll be enjoying your dream sunny day.
If you’re an existing Aldermore savings customers click on the button below to log into your account and see our range of fixed rate savings products.