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Get your dosh back under control

Live for today or save for tomorrow? It’s the perennial dilemma facing us young folks. We think it’s nigh-on impossible to get out of rented accommodation and onto the housing ladder without eating out of baked bean tins for the next decade. We’d rather squabble with our housemate over Netflix viewing choices than scrape together every last penny for an enormous deposit. But at Boring Money we’ve got news for you: you can do small things today to get your savings plan on track for tomorrow. What’s not to like?

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I’ll like this tribe if you promise never to write ‘YOLO’!

Improve your credit score

So it’s a catch 22 situation. You need a good credit file to get a mortgage approved. To get that, you need to demonstrate you’re a reliable borrower who can pay back debt on time. To do that, you need to have a history of borrowing and in order to get approval for credit…yes, you’ve guessed it…you need to have a good credit file!

So I bet you’re thinking; how the hell am I supposed to get around this? Well, you’ve gotta play the credit game. We show you three rules to having a well-fit credit score; they’re easier than you think.

The Housing Ladder

Deep down, you have a feeling that you’re being a bit screwed over by your landlord. And we all love our parents – well, most of us do anyway – but living under the same roof as them would make even Mother Theresa go on the rampage from time to time. So what’s the solution? How about your very own parachute plan to get you out of expensive rented accommodation or the B’n’B of Mum and Dad? Best of all, you can even take advantage of free government dosh to get your own place sooner. We show you how the Help to Buy ISA works and which options are best for you.

Help to Buy ISAs - Best Buys

Best buys - Help to Buy ISAs

Long-term savings

The future – it seems absolutely ages away. But unless you live hard and die young, it comes around soon enough! So unless you’re planning on joining the 27 club – or you’ve already missed the boat – you’d definitely appreciate having some cash on the side to make things happen tomorrow, whether that’s a happy retirement or a round-the-world trip. Sound intriguing?

Any shrinking violets out there trembling because of our slightly rude and “un-financial website language” in the pic – don’t blame us!  It’s become an established phenomenon in the States and here’s the thinking:

“Set aside a bunch of your salary as a “Scr#w You Fund” and start going to work with your head held high like a person who knows he has other options. The hours will still suck, but the stress will evaporate”

When you put it that way, it sort of makes saving sound just a little bit less dweeby…? No? We’re working up our campaign for you Rebellious Renters. In the meanwhile check out our Stocks and Shares ISA pages for details and ideas of where and how to build up this financial freedom pot.

In our latest research, we awarded Gold Best Buys to 4 providers – AJ Bell Youinvest, Fidelity, Hargreaves Lansdown and Nutmeg. Our Silver Best Buys went to Ageon Retiready, Aviva, Barclays, MoneyFarm, TD Direct Investing and Wealthify. And our Bronze Best Buys to Standard Life and True Potential.

Have a look at our criteria here.

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Holly's blog offers helpful tips, thoughtful ideas and her latest news and events.

Important stuff!

Holly and the team have worked in the finance industry for many years but we are not regulated to give you personal financial advice, nor are we regulated by the industry watchdog (although we do talk to them a lot). For every story on this site about a good investment, or something which went up by 10% or made someone £200, we could share a story about a bad investment, something which fell by 10% or lost someone £200. Nothing’s certain when investing so if you’re really unsure, or dealing with complicated stuff like working out what to do with a pension when you retire, we’d really suggest you get some financial advice. Here are some tips on  how to pick a good financial adviser. Or check out Unbiased or VouchedFor. Just remember, commission has been banned now so advisers need to be very clear with you about what you are paying them and when.