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Planning for the future

Why aren’t we planning ahead?

We live for the now and spend in the moment. But somewhere out there, beyond the shiny feel-good of today, our future selves are waving their arms around trying to get our attention.

Find out what yours is saying and discover why your long-term financial happiness may depend on it...

It’s our human nature

You, me, the next random person you see on the street. We all do it. We just can’t seem to help ourselves. When it comes to our finances, it’s so tempting to have it all today. Get the reward now rather than later. Choose immediate gratification over long-term satisfaction.

The numbers say it all. According to our research, 1 in 3 people agree it’s better to spend money on enjoying life now than saving for retirement.1

It’s how we’re wired. There’s even a fancy name for it that’s used in behavioural economics - temporal discounting. So it must be true.

Our future selves would say that we can evolve to think more long-term. But then there’s also the cultural influences to consider.

Here and now temptation is everywhere

Millennials are a great example of a ‘have it now’ generation. Born between 1980 and 2000, they are the first generation of digital natives, with access to all the information they need at the press of a button or the swipe of a screen.

So, on one hand they’ve got a world of financial information, education and advice at their fingertips. And on the other, there’s the pressure to compare, copy and compete with everything they see through the eye of social media:

  • faultless selfies
  • better holidays
  • smarter mobiles
  • designer clothes
  • cosmetic tweaks
  • faster gaming
  • cooler cars
  • extreme sports


Having come of age under the cloud of the global financial crisis, a time of low wages and very low interest rates, it’s not difficult to see how they could be swayed to spend rather than to save. And of course, they’re not the only ones.

Our long-term satisfaction brain thinks one thing…

It’s not as if we’re not switched on about our potential financial future. The prospect of an ageing population, rising healthcare costs and long-term low interest rates are all things that are on our radar.

71% of working age people believe retirees will have to spend more on healthcare costs in the future

74% of working age people believe levels of national debt mean there will be less support for the elderly

53% of working age people think low interest rates mean they will have to work for longer.1

…but our short-term gratification brain thinks another

Ultimately, it’s not a lack of education, available information or professional advice that holds us back. It’s us. And our habit of short-term thinking makes it very personal. 

Because we find it difficult to share our thoughts and worries about money, it’s easy to lose perspective and develop a skewed view of our finances. 

Some people feel ashamed, believing their Social Media friends are infinitely richer, happier and more successful than they are. Some folk feel disconnected, thinking investing for the future is something other people do. Others are afraid to rock the status quo, finding new opportunities more threatening than exciting.

It can be easier to believe our own excuses rather than change the way we think. Any of this sound familiar?

“My dad never told me about financial planning, so it’s not for me.”

“I started a pension, but I need the money more for my kids.”

“I’m too busy to do it now, but I’ll speak to someone about it later.”

“It’s boring and I’d rather watch television or do something else.”

The benefits of money talk

Excuses, excuses, excuses. If you can stop making them, you can start enjoying the benefits that come with talking about and engaging with your long-term finances. 

And we’re not just talking financial benefits, there are personal well-being benefits too.

  • Achieve your goals
    Once you stop worrying about whether you can keep up with everyone else’s life goals, you can actually focus on your own. From holiday adventures to new business endeavours - once you know what you want, you can put a financial plan in place to make it happen.
  • Dial down your stress levels
    When you bottle something up, it can cause an immense amount of stress and anxiety over time. Especially when it’s to do with your finances. By taking the lid off and engaging with the financial content, it’s there, it’s real and it’s something we can deal with - relieving the pressure in every sense. 
  • Improve your relationships
    Most things in life are best when they’re shared, and your financial plan is no exception. Being open about your finances with your better half kicks those money misunderstandings into touch. You’ll benefit from another perspective and be able to make informed decisions about what you both want going forward.
  • Learn from others
    There are all sorts of saving and investing tips and techniques waiting for you out there. The more you talk about money matters with family, friends, forums and financial professionals now, the more opportunities you’ll have to share with and learn from others. 

    Speaking of investing, we know it isn’t for everyone. There are fees involved and some risk, which means you may not get back what you put in. Yet despite that, it could also give your money its best potential to grow. If you know anyone who invests, why not ask them about how they got started.

Ways to start your long-term financial relationship

Like any first date, it can be awkward and embarrassing making the first move on your long-term finances. Don’t worry, your future self is cheering you on. Here you will find services, apps and tools to break the ice and get the conversation flowing about saving and investing. 

Get some financial advice

If you’re not sure how and where to invest your money, a trusted financial adviser could be a great place to start. With HSBC Greece, you’ll get the same level of quality whether you choose phone or face-to-face service.

Great for: confidence and support

Create your own financial action plan

Make yourself proud in the future by creating a plan of action to make your financial life clearer and simpler. It will help you work out what your money is doing for you right now and where it might come from in the future.

Great for: people who make their plans now so they don't have to worry about the future.

Top tip. Start by making a monthly budget to see how much you can afford to save.

Tap into online calculators

Easy to access and free to use, you’ll find online calculators for everything from savings and investments to interest rates and retirement planning.

Great for: quickly working out your options

Top tip. Try our investment calculator to see your money’s investment potential.

So, what do you think?

Your future self is eager to know what you’re going to do next. Are you ready to make the move and step away from immediate gratification and stride confidently into long-term satisfaction? Don’t worry if you have a wobble or two along the way, you’ve got the best cheer-leading team behind – and ahead of – you.

1 Survey commissioned by OnePoll. Sample size was 2,000 UK adults ranging from 18 to 55+. Fieldwork was undertaken between 11 and 14 June 2021. The survey was carried out online. The figures have been weighted and are representative of all UK adults (aged 18+).


This article is for informational purposes only and does not constitute nor may be considered a solicitation or advice for the purchase or sale of deposits, securities, goods or other investment products or services or investment agreement. HSBC Continental Europe, Greece hereby does not advise, does not accept any obligation and does not assume any responsibility for the decision of the reader that may have been based on this information.


Copyright. HSBC Continental Europe, 2022. All rights reserved. No part of this document may be reproduced or stored on a system from which it can be recovered or sent in any format or using any medium, whether an electronic, mechanical, photocopying, recording or other medium, without the prior written consent of HSBC Continental Europe.

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