If we’re honest with ourselves we all know how we can save money –
• We could cut up our credit and store cards – or at least cut down on their usage and always pay them back before interest is incurred.
• We could cut out ‘unnecessary’ spends – that new lipstick, that new Ferrari!!
• We could look around for the best deals when it comes to…well, everything actually! From the interest rate you pay on your mortgage and the interest rate you receive on your bank account to your weekly shopping bill!
• Oh, and we could give up smoking, drinking, eating out, socialising and having fun?
So – yes we can all be sensible, we can all be MORE sensible.
• But what is the actual point of saving?
• And what should you do with any pennies you do save?
Why Save?
We all know we should save, it’s an obligation right?
Well, yes and no!
Surely the only obligation any of us has is to get the most out of life that we can!
So, why save? Well, no one knows what tomorrow will bring… bills probably! And so by saving you can
a) protect yourself
b) protect your family
c) protect your lifestyle
d) protect your FUTURE and get the best out of life.
If you have money in reserve for
• a rainy day
• your child’s education
• that dream holiday
• your child’s wedding
• your retirement etc., etc
you are better protected, you are better covered, you are in more control. As Aesop said: –
“It is thrifty to prepare today for the wants of tomorrow”
How to Maximise Your Investments
The first and most important step in the process of getting to grips with your finances is knowing and understanding your financial objectives.
A financial adviser whether independent or tied can help you to understand your own goals and needs, and help you formulate a plan that fits your budget and requirements.
Tax Consultants Guide recommends that you seek expert advice from the start.
Sure, you know that you want to retire at 50 with a million pounds in the bank…but what about today, tomorrow and next week? What needs to be done now to secure your future; and what can realistically be done now to enable your dreams and those of your family?
Once you have a solid plan of action in place covering all aspects of your financial planning needs, you need to be sure that your money is working as hard for you as you did to earn it – if not harder!
Whether you save the sometimes recommended 10% of salary a month, more than that, or even just a few pounds here and there now and then, you need to get the best out of your money.
With the myriad of financial services companies out there each offering every product you ever dreamed of and more, it is a daunting task!
Seek professional help and advice. An independent financial adviser can help you assess and understand your goals, he can also help you achieve them.
Leave nothing to chance however, always check out the credentials of an adviser whose advice you seek and read the product literature he produces on any plan he recommends you take out – he knows the market well and he understands your needs but at the end of the day, you know yourself far better than he ever can and it is your money you are asking advice for.