Saving regularly is a great habit to develop and master. Savings are even more important when you’re working as an expatriate, as you may not have access to the local retirement schemes or your company may not provide the same benefits whilst you’re abroad. University and professional development costs can be a lot more expensive, you may wish to do more travel or you may wish to buy an extra home locally. Savings like most habits is simplest to continue once the habit has been developed.

This can sound a complicated term but really all it means is if you invest monthly and regularly smaller amounts, instead of a one off large amount, you will reduce your risk to markets falling as you are not investing your money at the same time and at one price. Pound cost averaging is a method of investment that can level out the ups and downs of market positions and rid you of concerns of finding the right time to save. Some of your monthly investments of course will be made at the top of the market, these then however are balanced out by the ones that are bought when prices are at the bottom. Saving little and often in this way is a good way to build a portfolio to achieve your financial goals.

Compound interest is the process the snowball effect on your money as you earn interest on top of interest. The longer you leave the magic of compounding to work the more benefit you receive. Educating yourself with the hows and whys of simple and compound interest will dramatically help your financial worth in the long term.

At Belgravia our specialist advisers can create tailor made solutions for you, and can advise you on timeframe, regular amount, frequency of investment, and multi-currency solutions. We will only show you plans that are available where you are living. 

To find out which type of savings plan best suits your needs and delivers the highest returns speak with an expert today.