The Ultimate Financial Plan
Financial planning is something few of us actually sit down and consider. Generally speaking, we plod along month to month and if there’s a spare bundle of cash left in our accounts, we go and treat ourselves.
However, it is important to consider the future and plan for those rainy days, potential job redundancies, retirement, or our children’s future.
Before you embark upon financial planning, it is most important to sort out your debts. Debt is a weight on our shoulders and is something we need to remove before we get into the knitty gritty of financial planning.
Why should you have a financial Plan?
Everyone needs a financial plan to cope with the unexpected. In the break of employment or perhaps for some reason you have taken a pay reduction, then it’s important to have some cash spare to cover this ‘dry’ period.
Your children are your most important assets, to ensure that they are looked after you need to plan for their education. Every child deserves the best possible education. Talking to a financial adviser about investing for your child’s future could provide them with the funding they need to succeed.
Grow your savings gradually
It is important that as our salaries grow or as it draws closer to retirement, we should increase our savings amount. The smartest method for saving is sending an amount to your savings account on payday, so it’s gone before you even get started.
Review your insurance policies
By reviewing your life insurance, health insurance or home insurance policies you might well be able to grow your finances quicker than expected. Insurance is a competitive market so shop around and get the best policy for your needs at a good price.
To discuss your finances further book a free financial planning consultation, contact us today!
