As we welcome the New Year, it’s the perfect time to take a fresh look at your finances. With Christmas behind us, January offers a clean slate to reassess your financial situation, set new goals, and make plans to stay on top of your finances throughout the year.
Here are some tips to help you get started and why consulting a financial adviser can be beneficial.
Reassess your finances
The beginning of the year is an ideal time to review your financial statements, think about your goals, and evaluate your spending habits. According to The Week, creating specific and achievable savings goals can significantly improve your financial health[1].
Stay on top of your finances
Staying on top of your finances helps you manage your spending habits, track your expenses, and save more money. By keeping a close eye on your finances, you can make better financial decisions, prepare for emergencies, get out of debt, and achieve your long-term financial goals more efficiently [2].
Start fresh
If your previous financial plans didn’t work out, don’t be discouraged. HSBC UK recommends setting new financial goals, creating a revised budget, and establishing a long-term savings plan[3]. Even small changes can make a big difference over time, so stay motivated and keep your goals in sight.
Why contact a financial adviser?
Consulting a financial adviser can provide you with expert guidance tailored to your specific needs. A financial adviser can help you plan for retirement, invest wisely, and make the most of your savings[4]. They can also assist with complex financial decisions, such as buying a property or managing an inheritance. Financial advisers offer personalised advice that can help you avoid costly mistakes and achieve your financial goals[5].
References
[1] How to get your finances in order for 2024 – The Week
[2] Why Is Budgeting Important? 10 Key Benefits – Be The Budget
[3] How to get your finances back on track – HSBC UK
[4] Getting financial advice – Citizens Advice
[5] Financial advisers – MoneyHelper
Inheritance Tax Planning is not regulated by the Financial Conduct Authority.
The value of investments can go down as well as up, and you may get back less than you invest.
Tax treatment depends on individual circumstances and may be subject to change in the future.
Past performance is not a reliable indicator of future results.
This information is intended for general guidance only and does not take into account your specific circumstances. Please seek professional advice before making any financial decisions
Approver Quilter Wealth Limited, Quilter Financial Limited, Quilter Financial Services Limited & Quilter Mortgage Planning Limited. Quilter Financial Planning Solutions Limited. December 2024