“Financial wellbeing is about a sense of security and feeling as though you have enough money to meet your needs. It's about being in control of your day-to-day finances and having the financial freedom to make choices that allow you to enjoy life.” CABA
June saw World Wellbeing Week. The word ‘Wellbeing’ is being used a lot more widely as we all strive to find that balance!
So it got us thinking, as a team of Financial Advisers we strive to help our clients find Financial Wellbeing each and every day. Here are some simple and effective ways to help you on your way to Financial Wellbeing...
- Set your Life and Financial goals. In order to get to where you are going, you need to understand where you actually want to go. What matters to you? Is it within reach? Which goals can be achieved relatively quickly and which will form part of a longer-term strategy?
- Consider Saving for the future you want. Tomorrow creeps up on us - to afford all of lifes ups and downs and aim to start saving now. Set a 'Savings Goal' and as you work your way towards it, it will become easier to put the money aside to achieve it.
- Spend less than you earn. It’s virtually impossible to boost your savings if you spend everything you earn. Try reducing your expenses (there are lots of helpful tools and apps now available to help with this) and watch the savings get topped up monthly.
- Maximise your money. Find an experienced well recommended financial adviser to work in partnership with you, guide you and provide you with the knowledge and ability to maximise your money's potential - building towards financial security, reassurance and peace of mind for you and your family.
- Protect what you have. Being able to navigate and support yourself through a 'financial shock' (illness, redundancy, an accident, unexpected home repair etc) is important. Life is full of ups and downs and being prepared for the unknown allows for peace of mind. Appropriate Protection for yourself, family, income and investments is key as is a contingency/emergency fund.
The value of an investment with St. James's Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested.