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Planning ahead doesn’t have to be complicated – but it can make a huge difference to financial confidence. As 2026 begins, there’s a real opportunity to help members take control of their money and feel more secure about the future. And our latest findings, as detailed in Retirement Voice 2025, show that even small steps can have a big effect.
Why planning makes a difference
Our research shows just how powerful planning can be. Only 27% of people who don’t plan at all feel positive about their finances. That jumps to 44% for those who do a little planning, and is two-and-a-half times higher (69%) for those who plan a lot compared to those who do no planning.
It seems financial planning boosts confidence beyond money matters, too. People who plan extensively are nearly twice as likely to feel optimistic about their life in five years compared to those who don’t (66% versus 36%).
And it’s not just about the present. Looking back, one in five retirees (21%) wish they had planned more thoroughly for retirement. Many also regret not realising they’d be retired for longer (19%) and would need more money (20%) than they expected. These insights underline why starting early matters.
Encouraging members to start planning can reduce stress and improve wellbeing, which often leads to a happier, more engaged workforce for their employers.
Kickstarting saving in three easy steps
Step 1: Setting goals for now and later
The first step is for members to decide what they want their money to do for them. They can benefit from structure and motivation by setting short-, medium- and long-term goals.
- Short term (up to two years): clearing a credit card, building an emergency fund, or saving for a holiday.
- Medium term (two to five years): saving for a house deposit or preparing for an expiring mortgage deal.
- Long term (five years and beyond): cutting back working hours, retiring, or planning big adventures.
Tools like MoneyHelper can help members understand their spending and spot savings opportunities. Those who are part of a Standard Life workplace scheme can also use Money Mindset* to build healthy savings habits.
Step 2: Tidying up the paperwork
Most people have a drawer (or inbox) full of forgotten financial documents. Encourage members to tackle it. Organising paperwork – whether physical or digital – removes a big barrier to action.
With most documents now online, setting up folders and making regular backups is smart. For paper-based items, a simple filing system works wonders. Knowing where everything is makes future planning easier.
Step 3: Building a budget
Once goals are set and paperwork sorted, the next step is budgeting. A clear budget shows what’s coming in, what’s going out, and what’s left to save. Members can break spending into three categories:
- Essentials like mortgage or rent, bills and food shopping.
- Debt, including credit cards, loans and car finance.
- Lifestyle covering costs like eating out, cinema and clothes.
Turning plans into progress
You can help make planning less daunting and more achievable by directing members to trusted resources like the calculators and guides on MoneyHelper or the personalised insights available for Standard Life scheme members via Money Mindset*.
Helping people plan and save isn’t just good for their finances – it can also reduce stress and boost overall wellbeing, creating a happier and more productive workplace. By encouraging goal-setting, organisation, and budgeting, and by pointing them to useful tools, you can empower members to feel more confident about their financial future. A little support now can make a big difference later.
To read more articles from Standard Life visit the content hub on Corporate Adviser – here.
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*Money Mindset is provided in partnership with Moneyhub Financial Technology Limited.
Phoenix Life Limited, trading as Standard Life, is registered in England and Wales (1016269) at 10 Brindleyplace, Birmingham, B1 2JB.
Phoenix Life Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.