Create a budget

Tips to help you get to the living standard you want

Use a budget tool to see if you can save money each month and put this towards your pensions or other savings.

Creating a monthly budget can help you see where your money is going each month. It can prevent overspending on non-essentials or spot bad habits, meaning you could end up being smarter with your money and able to save more. You could put this extra amount into your pensions, or set aside in an ISA.

A popular method of budgetting is the 50/30/20 rule. This allows you to spend 50% of your money each month on essentials, 30% on 'nice to haves' like takeways and entertainment, and 20% on saving.

Use the budget tool button on the left to set up your own budget, and see if there are ways you can save more money for later life.

Your bank might also have a spending tracker you can use to see where you spend your money each month.

Budget planner tool

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Just a reminder, this information is not financial advice and is designed to guide your retirement lifestyle choices and spending.

If you are ever unsure about the best thing to do, a financial adviser can help you.

We have partnered with Ecclesisatical Financial Advisory Services (EFAS) to provide expert advice on all financial matters.

See how EFAS can help

We're here to help you with your pension, whether you'd like to know more about saving more, or retiring at a different time.

Email us at pensions@churchofengland.org

Phone us on 020 7898 1802