….but ask yourself some questions:
- Are you making the most of your situation or is there room for improvement?
- Are there things you should already have done or could do differently that would have an immediate impact?
- Could you use the expertise and tips from a qualified financial planner?
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- Do you ever get to the end of the month and wonder where all your money has gone?
- Most people never take the time to budget their spending. This can be a scary idea if you have never done it before, but it needn’t be.
- Using our simple budget planning techniques can help you take control of your money, cut out unnecessary expenditure and find some money to start saving for the things you want, and have enough money to last beyond the next payday!
- Where is your money going?
Most people do not review their bank statements every month when they arrive. We have enough to do without checking everything, After all it should be ok. Shouldn’t it?
- If you did review your direct debits, you might find that you are spending unnecessary money (how annoying!)
- Sometimes, and quite often, people find that if they rearranged the dates of their direct debits then they would not go into their overdraft. Sometimes policies such as insurances which are simply not needed, such as travel insurance that you have on your credit cards anyway, or insurance for old loans. Quite often old policies are needed but can be improved upon, so a simple review means you can get better cover for less cost.
- Typically your biggest monthly expenditure will be your mortgage. Reviewing your mortgage can sometimes mean that you can change your rate and reduce your outgoings. Even if you can’t do this today (maybe you are tied into a rate) we can put your details into our client review system so that we can review this for you at the earliest possible opportunity.
- What would you do without an income?
The most valuable asset you have apart from your health is your income. Your ability to work and be paid for this, provides you with the means to pay your bills, and more importantly to enjoy your standard of living. If this was taken away from you then who would pay your bills and who would maintain your lifestyle?
Putting in place simple inexpensive protection for your income can ensure that, whatever happens, you will always have enough money to live your life.
- Unlike most habits which we are always trying to control or give up, saving is a habit that you need to embrace. Most people feel they don’t have enough money to save as life costs so much, and later in life when they realise this will never change, they wish they had started saving earlier!
- Saving money is relative to your income. If you don’t earn a lot, then you can’ save a lot, but you can save a little, and it build over time. If you do earn a lot, you must save a lot, it’s all relative.
- Our golden rule for saving is to save 10% of your income. That is, for every £10 you earn, save £1, spend the other £9 if you like. Over time this saving habit will take hold. The money will begin to build up. You will be able to invest in different areas and see your money grow, and then you will be able to buy or do the things you have always wanted.
- If you have investments such as ISAs or pensions, these should be reviewed regularly to ensure that you are getting the best performance possible.
- Quite often people are disappointed with their investments, they just don’t seem to be growing. This can be because whilst the funds that were chosen at the time you began investing may have been performing well, that might not be the case today. Fund performance changes second by second, so reviewing your fund choice regularly is vital.
- It is easy to assume that your benefits from work are set up properly, however most people find that there are still things you need to do
- Are your benefits in trust? This means that you have appointed who benefits from things such as your life insurance or pension in the event of your death
- Did you select your pension funds, how are they performing? This is the money that will replace your wages when you retire
- Will your sick pay provide enough cover? Many people overestimate the cover they receive from work. Many employers simply cover you for the first 6 months or 12 months of illness. What do you do then?
- Our simple review of your employee benefits will help you understand what you have, if there are any unexpected gaps, and ensure that all of your benefits are set up properly so that you really do “benefit” from them<
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To find out more about Financial Planning, see WHAT WE DO
Go to BUILDINGS AND CONTENTS INSURANCE
Go to CRITICAL ILLNESS COVER
Go to INCOME PROTECTION
Go to LIFE ASSURANCE
Go to PRIVATE MEDICAL INSURANCE
Go to REDUNDANCY COVER
When you buy a bond you are allocated a certain number of units in the funds of your choice. Each fund will hold a portfolio of investments, such as shares or bonds, and the price of your units – in other words the value of your capital – will normally rise and fall in line with the value of these investments.
Technically, investment bonds are single premium life insurance policies. This means an element of life insurance is provided. But it is tiny, typically adding an extra 1 per cent or less to the value of your investment, if it is paid out after your death.
Investment bonds have an element of tax paid at source at 20%. Higher rate taxpayers would be potentially liable for a further 20%. A feature of investment bonds is that a tax-deferred income of 5% per annum is available.
Bonds can be ‘onshore’ or ‘offshore’. Offshore bonds do not, in general, have a tax liability until they are brought onshore. The level of liability depends on your tax status as well as regulations and legislation.
Go to INVESTMENT BONDS
For Further information on Investment trusts, please Contact us
Go to ISAs
Go to UNIT TRUSTS
Go to OEICs
Go to MORTGAGE ADVICE
Go to MORTGAGE PAYMENT PROTECTION INSURANCE
…For Corporate Financial Planning
For further information about Employee Benefits, go to the Q&A website, EMPLOYEE BENEFITS
For further information about Flexible Benefits, go to the Q&A website, FLEXIBLE BENEFITS
Go to KEY PERSON PROTECTION