The Telegraph has a money makeover featuring a 31 year-old freelance shoe designer who works from home. Her income is variable, but she has £1500 disposable income each month, and she has around £11,000 worth of savings, but a £2000 credit card bill. She doesn’t see the point of having a pension.
The experts suggest that she takes out Income Protection insurance top safeguard her salary if she is unable to work, that she takes out a stakeholder pension or SIPP for her retirement, and that she establishes savings so that she doesn’t have to rely on credit cards.