Affording the future #ad

*This post is in collaboration with the new Aviva Shape my Future tool. The Aviva Shape my Future tool uses simple inputs to give a basic idea of retirement income. Details of assumptions are available at

So, if you read my last post, you’ll know that I have partnered up with the Aviva Shape my Future tool, looking at my future and my pension. And before you switch off and think I’ve gone into boring territory – hear me out.

The Shape my Future tool essentially helps you to work out what you can expect to live like in the future, once you start to receive your state pension, and use any personal pensions and savings you might have to. And yes, I’m 28, and my pension will kick in in forty years, so it’s a long way away. But after taking the tool I’m all too aware that I haven’t been saving enough for what I expected my retirement to be.

And I do want to live for now, but the future is always there in the back of my mind. And I want to be ready for whatever it has in store for me.

So, the Shape my Future tool told me that I can expect to live on £273 a week. And so, I wondered how far that would go if I lived on that today.

So let’s look at my spends for the week.

Family Spends

  • Food – £80 per week. Though this does cover a family of four.
  • Formula – £10 per week. I won’t have a baby daughter at 68, but I will hopefully have some grandchildren that I’d like to spoil.
  • Nappies – I’m lucky that a family member is able to get me nappies for Daisy, but that would be a huge cost otherwise.
  • Slimming World – I pay £4.95 per week to attend a group, though I can save money if I buy in bulk which I will do.
  • Swimming Lessons – I pay monthly for Bill’s swimming lessons, but that would work out at around £5 per week.
  • My Phone Bill – £40 per month, but around £10 per week if you average it out.
  • Treats – Only yesterday I paid £11 at Costa for a couple of drinks and some cake for Bill. And I like to do special things now and again, because what is life without cake and coffee and companionship?
  • Mortgage – Our mortgage is higher since we took extra out for our extension, so we’d be looking at £200 a week there.

And that means I’m already at £320.95 and I haven’t even considered other bills, internet, television licence, insurance, fuel, clothes, toiletries, toys, trips out, holidays, or any of the little extras we forget about. And I’m over budget by almost £50.

So yes, by the time I’m 68, I probably won’t have a mortgage to pay, and my children won’t be eating me out of house and home, but I will have Mark and I know we’d like to see more of the world as we had our children young, and I’d like to do that. I’d like to travel. I’d like to spoil my family and my grandchildren.

And it’s not going to be possible unless I start to put more away.

So, while it’s not exactly the best news I’ve received this week, I’d suggest giving it a go. You may be pleasantly surprised, or you may just be inspired to start saving up a bit more, and contributing to your pension more.

Just so your future, is a little bit more like the way you’d hope it to be. At least this part we can control. So we might as well give our 68 year-old selves a hand right?

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  • Reply
    Hannah Walter
    30th October 2016 at 4:51 pm

    I am 23, but I actually had a look at this after reading your latest post because it's so important. I'd like to be set up for the time I actually get to spend my days doing whatever I want, so it make so much sense to be saving up for these things now. Thanks for sharing, I find this type of post very interesting and helpful!

    Suitcase and Sandals Blog XX

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