New Year resolutions to get your finances in shape

Many brave resolutions are made at the beginning of the year. Why not add improving your financial situation to the list?  With our support and advice, it is highly likely that you will be able to reinvigorate your savings and investments.  Here are a few ideas ….

Advice is essential
We’re here to help.  Finances can be complex, so it’s essential to get expert, independent advice.

Dealing with debt
Some debts are unavoidable, such as a mortgage. But that doesn’t mean you have to stick with your current arrangement.  We can tell you if there is a better deal available or if you might benefit from overpaying with your existing lender.

Maximise your savings
You should aim to have three to six months’ salary on deposit in case of emergency.  We can point you in the right direction for the best interest rates and place to hold the cash.

Refresh your investments
If you haven’t used this year’s ISA allowance, we can provide guidance and sort out the paperwork.  An individual’s 2011-12 ISA allowance is £10,680, of which up to £5,340 can go into the cash ISA option.  When the new tax year starts in April you will be able to put a total of £11,280 into 2012-13’ ISAs, with the cash ISA limit within that set at £5,640.00.
When was the last time you reviewed your attitude to risk and reward?

Review your retirement planning
What type of provision have you made? Most of us don’t save enough into our pension, if we save anything at all.  This is a big mistake. There are tax breaks to be had, and if you arrive at retirement without a decent pension pot, you could face a bleak old age.

Make a Will
If you die without leaving a Will, you will probably bequeath your loved ones a heap of headaches.  They will have to wait for your estate to be sorted out, something that could be done swiftly and cleanly if you have left clear instructions. 

Protect yourself and your family
Do you have adequate life insurance?  And is it written in trust for your loved ones?  What about income protection and critical illness cover? 

It is often said that those who fail to plan, plan to fail.  This is where we come in: we’re financial planners, and we’re here to help you succeed.