Five Financial Planning Resolutions to Make in 2017
As the Christmas celebrations come to an end we all begin to look ahead to the next 12 months and think about what we want to achieve in the upcoming months.
We want to encourage you to forget about crash dieting and intense fitness routines and instead take a look at improving your personal finances. Here we share our top financial resolutions for 2017...
Set Financial Goals
It is important to think about what you want to achieve and set clear and realistic goals. Are you saving for education fees for your children or looking to clear a debt? Once you have set your goals it will be easier to make your plans for the next 12 months.
Shop Around
While many of us cut out on luxuries and treats as we try to rein in our spending this doesn’t necessarily have to be the case. Instead we recommend shopping around to make sure you are getting the best deal for things such as insurance and utilities. Use comparison websites, sign up for online deals and make sure your credit card is paid off in full each month.
Review your Retirement Plans
Retirement may seem like a distant dream and knowing how much of your income to save to sourcing the right pension policies can leave you feeling confused and frustrated. However an independent financial adviser will be able to take you through your levels of saving and help you to project when you will be able to retire on a comfortable pension; while also reviewing your existing pensions, to see if they are performing in line with your goals.
Check your Level of Protection
No one likes to think about developing a critical illness or dying, which is why life assurance policies can often be overlooked; leaving many people without the correct protection in place if the worst happens.
There are a range of different policies available to protect your family, from Family Income Benefit which pays a monthly income to your dependents if you pass away, to Critical Illness which pays a lump sum if you are diagnosed. It’s important to check your assurance policies as your circumstances change.
Review your Investments
January is a perfect time to review how your investments have performed in 2016. It may be worth consulting an Independent Financial Adviser to look at which funds if any are underperforming and advise you on how to make your investments more efficient.
If you would like help with your Financial Planning then book in for a free, no obligation consultation with us to help make your financial resolutions a reality.
Tel: 01727 85 22 99 | Email: mail@kdw.co.uk