4 saving pots you NEED to live a wealthy life


Being wealthy isn’t just the amount of money you have.


A big part of being wealthy is being able to feel financially free to live a life you love.

When my clients work with me, one of the areas we focus on is uncovering their financial values so that we can then build into their wealth strategy saving pots so that they can save with the intention of spending for the things they seek right now.


Saving up shouldn’t be done just for the sake of it. If you do that you will simply hoard your money in cash and feel anxious accessing it, you won't know if you can spend your money. You will also keep more money in cash than you need, which you know stops you from being wealthy, cash isn’t king.


There are 4 savings accounts that consistently come up when I build wealth strategies that give my clients the ability to spend on the things they really love.

1: Your emergency fund.

You should hold enough cash accessible to you that will give you the means to pay for any unexpected bills or emergencies. Usually, it is around 6 months of your essential spending, just in case you can’t work and this amount would usually cover those unexpected events. By having this money set aside you can relax. Your emergency fund is part of your financial foundations that will give you the resilience you need to ride out any bumps that inevitably come along, even for the best of us. By having an emergency fund you feel that you can then focus on spending, saving, and investing for your wealthy life.


2: Your house fund.

I always have unexpected house payments, repairs, refilling my oil tank (I live in a very old thatched cottage)…. Etc. Each year you will spend a significant amount of money on your home. It can be stressful if you haven’t saved money to pay for things that come up, but also when you want to renovate your kitchen or do up your bathroom, if you don’t have a house pot you will need to work out if you can actually afford to do what you want to do. Whereas if you set aside intentional pot money for your house it will give you an account that you can use freely for your home. A bill comes up, it's fine the money is there. You can start by setting aside a lump sum you know you spend on your home, and then save up from your monthly income an amount to keep it topped up, spreading out the burden. When you have this fund, then any remaining income is yours to spend, save and invest for your wealthy life.


3: Your family holiday fund.

Traveling and downtime with the family is always a valued spending item for my clients. Experiences and seeing the world is what life is about. However, we usually pay for our holidays on credit cards and then spend time after the event paying it off, which can slow us down from building wealth. You know you want to go on holiday, so setting aside a lump sum for the year and then saving up monthly to keep that pot topped up, will give you the ability to pay for your holidays (you can still use a credit card if you want those protections) upfront and be planning next years!


4: Your FUN or ME TIME fund.

As women, we don’t spend easily on ourselves. We have been brought up for generations that we are the care GIVERS, we spend our money on our loved ones, our babies, our family, we give to charity… but can you buy yourself that handbag you look at every time you walk down the Highstreet. It is expensive, it is more than you would ever consider spending on yourself. You know that you love spa dates and going on retreats, however, in reality, booking leaves you feeling guilty. You buy your new handbag and you feel sick afterward, you might even return it. I have had clients that do this. It can take time to unpick limiting beliefs about our worthiness of wealth, however, one simple thing you can do is set aside with intention a pot for you and save monthly into it. Then, you are telling your brain that if the money is there you CAN book that retreat, that massage, buy that handbag you absolutely DESERVE. If you want to upgrade your flight to first class and the money is there, DO IT. This is probably the most important pot you can get to for you and your wealthy life.


Focus on building these pots up, if you are starting out, then start with your emergency fund. You could even allocate a small amount to each and create your pots over time.


And remember once your saving pots are full, and you don’t need your income and money for your wealthy life today, you NEED to start investing otherwise you are wasting your time, energy, and money.


Emma xx

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