Tips for financial wellbeing

This week we celebrate World Wellbeing Week. As lockdown measures continue to ease some of us are venturing back to the office, spending time in restaurants or visiting the cinema. Now is a great time to consider your financial plans and bring a sense of financial wellbeing to you and your family.

We have put together some key tips to help you get started:

Review your everyday spending

  • Review your car insurance – if you’re driving fewer miles these days because you’re working from home you may be able to get cheaper car insurance.
  • Check your outgoings – Many online banking apps can offer you a breakdown of your spending. Take a moment to review your outgoings, small tweaks can add up to big savings.
  • Compare utility prices – A simple check can reduce your monthly outgoings and changing provider is easy.
  • Make a shopping list – We’re all guilty of grabbing the latest offers on the end of the aisles. Try to keep your shopping list and your budget. Giving into temptations each week can be costly.
  • Review your credit cards – Consider consolidating your loans and credit cards to help reduce interest payment.
  • Check your tax allowances – if you’re working from home don’t miss out on your tax relief. Check here>

Be pension proactive

Get retirement ready

  • Start thinking about when you would like to retire. Thinking about later life can be daunting, take steps to understand what you’d like to achieve in retirement first.
  • How much will you need in your pension pot to achieve the lifestyle you imagine? Think about your current outgoings, will this change in retirement?
  • Try our Wealth Calculator – this will instantly give you an idea of how much you need to save and when you can retire. Use our Wealth Calculator>
  • Take advice – if you’re unsure about your retirement options talk to an expert. An Independent Financial Adviser will help you to navigate all your pensions and create a personal plan for your retirement. Contact our team to book a free consultation>

It’s never too late to start planning for your future. Gain financial wellbeing and receive independent, impartial advice to achieve your goals.

If you’re ready to make your retirement something to look forward to, not something that keeps you up at night contact our team for a free consultation info@innesreid.co.uk or tel: 01244 347 583. 

This article isn’t personal advice.

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The Financial Ombudsman Service (FOS) is an agency for arbitrating of unresolved complaints
between regulated firms and their clients. Further details of the FOS can be found on its website:
www.financial-ombudsman.org.uk