The first half of the year is almost over and many of us have implemented actionable steps to boost financial health. If you have resolved to improve your finances at the start of the year but haven’t noticed any progress, it must be because you’re contradicting your plans with your actions. You must be always focused on the process, be prudent on how you spend and be resolute to achieve your financial goals.
1. Spend Less Than You Earn
It seems like the most reasonable thing to do but living within your means can be a hard scheme to follow. Creating a realistic budget and sticking to it requires self-discipline and patience, but if you’re serious about making progress with your financial health, cutting unnecessary expenses can maximise your savings and improve your finances.
2. Regularly Check Your Finances
Reviewing your finances once a month and checking your bank statements can give you an idea of how your money is working for you. This is the best time to cut unnecessary expenses, cancel useless direct debits, and check good rates on your savings accounts. Having a clear view of your finances can provide you an idea of where you’re at and can also remind you the financial goals you’re trying to achieve.
3. Know More About Investments
Do not engage yourself in investments that you have little knowledge of. Aside from trusting colleagues, you also have to do your own research and get clued up on investment strategies and processes. It helps to have a financial advisor who will guide you through the investment options that are suitable for you and your lifestyle. Day to day activities may limit you on applying yourself actively in the investment market, but a financial advisor can aid you in being up-to-date with investment options while taking into account the risks involved.
4. Check insurance products and mortgage market
Purchasing insurance products can make big savings as opposed to acquiring property, car or travel through direct means. Be vigilant with the insurance policies being offered by the providers to ensure that they offer sufficient cover.
With the mortgage market, keeping an eye on the best rates offered and the best time to re-mortgage can get you in a position where you can score a good deal.
5. Have A Wealth Management Plan
If you want to see a vast improvement in your finances, having effective wealth management can help you achieve greater results compared to just sticking with these little practices. Developing a wealth management plan provides your family security and gives financial freedom in a fluctuating and highly volatile market. It gives you a long-term scheme to maintain a healthy state of your wealth.
Stadden Forbes Wealth Management’s aim is to construct a plan that can cope with unforeseen challenges and can withstand the known challenges of the future. We provide specialist investment solutions to drive returns. Our access to nearly every listed stock, bond, investment trust and investment fund on the planet gives us a clear margin to provide you with a specialist financial strategy and the asset management you need to achieve long-term results. Furthermore, we use the most appropriate instruments to build bespoke investment solutions for you. We bind the investment management into the financial architecture that we will have created for you, which in turn links back to you and your financial plan.
If you have any queries about Stadden Forbes’ services or wish to become a client, email us at info@nullstaddenforbes.com or call us on 020 3405 5320.
