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What should Mario do with his birthday coins?

It’s everyone’s favourite Italian plumber Mario’s 30th birthday. In this time, he will have collected millions of coins. But what should he do with his stash? If you want to find out then, in the words of Mario, ‘Let’s a-go!’

Rainy day fund

Preparing for a time when gold coins may not be easy to get hold of is always a good idea. We can all be caught out by surprise bills and unplanned events. In fact our Unexpected Costs’ report revealed seven out of ten households in the UK have experienced at least one unplanned expense in the past 12 months.

But having some money to one side can really help. Did you realise saving just £3 a day adds up to £1,095 over a year?

 

Pension savings

Hopefully, during his 30 year career, Mario has been able to think about a time when he won’t be working. Your retirement fund is always important.

Most people get some State Pension, but it may be less than you think. A single pensioner who qualifies for the new full State Pension, which comes into force in April 2016, can currently expect to get £151.25 a week.

However not everyone will qualify for a full State Pension. This is because the amount you receive depends on the National Insurance payments you have paid (or are credited with) throughout your working life.

Even if Mario does receive the full State Pension, it may not be enough to give him the quality of life he wants. Thinking about other ways to boost your pension pot is important.  

Budget for the big things

It’s safe to say Mario isn’t short of hobbies. From go-karting to tennis and golf, there’s always something on.

But in real life, all of these pastimes would cost him a fair few gold coins. And what if he wants to settle down with Princess Peach at some point or produce some mini Marios of his own?

Cutting back on the small things to afford the bigger things is worthwhile. You may be surprised how much you spend on seemingly small things – even buying coffees or weekly takeaways can all add up.

 

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