Get savvy with your savings in 2026

Travel Weekly is extending its personal and business information content by teaming up with financial advisor David Croft for a regular column offering answers to readers’ questions about personal finance. In this column, David, who previously worked in the travel industry, looks at ways to bolster your financial security.

Money is a tricky subject. It’s hard to earn, even harder to keep, and it shapes more of our lives than we’d like.

I worked in the travel industry for 15 years and I, like many others, carried a quiet fear and embarrassment about not having a handle on money, a hangover from never being taught it at school. We wrestled with trigonometry, but no one walked us through interest rates, buying a home, building up money for the future and the big one, retirement. That can change. For my change, I left travel to retrain as a financial advisor – rest assured your change needn’t be quite so dramatic!

Becoming a financial advisor has allowed me to share what I’ve learnt and help people in travel take control. I’d been a casino cashier on cruise ships, a frontline agent, in head office marketing and, finally, a BDM on the road: brilliant roles with amazing people in the best industry, but always at a relentless pace. Jetting around, hosting dinners, packing for fams – there was no time to think about anything past the next booking or conference. Any of this sound familiar?

I’m delighted to be invited by Travel Weekly to help you swap fear for confidence with a few tips you can put into practice. Here are my three top tips you can use straight away. 

How much should I save?

Aim to follow the 50/30/20 rule. Based on your take-home pay, aim to spend:

• 50% on ‘needs’– the essentials: rent, bills, food, car etc;
• 30% on ‘wants’ – the nice to have: Netflix, gym membership, eating out;
• 20% on ‘plans’ – the future: savings, retirement, credit card repayments.

I can already hear you say gym and Netflix are needs and that’s fine! This is just a guide, with the end goal of ensuring you put something aside each month. Warren Buffett, once the richest man in America, said: “Do not save what is left after spending; instead spend what is left after saving.”
 

Maximise employer contributions

You may not know it, but if you’re in a workplace pension scheme, you’re not the only one paying in. Your employer is usually adding money too and, in a lot of schemes, if you pay in more, they will as well.

Schemes differ, but these are typical examples:

• You contribute 5% of your salary, and your employer contributes an extra 3%;
• You increase your rate to 7%, and your employer’s contribution rises to 5%.

You can find out how this works for you by checking your contract or pension details. Or simply ask HR: “If I increase my pension contribution, does the company increase theirs as well?”

If they do, and you can afford to put aside more of your take-home pay, not making the most of that structure means missing out on additional contributions your employer is willing to make towards your retirement. Over time, this can make a significant difference to your pension pot.
 

Keep an emergency fund

Remember the 50% ‘needs’ from before? Aim to hold three to six months of those essentials in an easy-access account (nine-plus months if you’re self‑employed). A solid emergency fund turns a crisis into an inconvenience by letting you cover repairs, bills or time off work without reaching for unwanted credit cards or derailing your long-term plans.

This article is for guidance only and not personal advice. Check what’s right for your circumstances and your pension scheme’s rules. [SJP Approved, November 21, 2025]