Tag Archives: financial planning

financial planning

Financial planning Week May 8th to 12th 2017

Financial Planning Week

I am passionate about many things, my boys and their football, make-up(!) and my business where I write about personal finance. Yes, I am passionate about personal finance and financial planning. I love simplifying complicated financial areas for everyone to understand. I love to try products out and review them for my readers. I love to find products and services that are great value and that offer convenience.

Financial planning is a subject that I will be writing more about. Over the past 6 months I have been doing lots of work with a pensions company and it has sparked a real interest in the importance of planning for the future. I have had lots of feedback from readers who are telling me that they are struggling with understanding these kind of products, they are scary, and the consequence is to ignore. This is not good.

I will be writing about all sorts of financial planning products and services in 2017 and beyond, to help you readers to get in control of your finances and the future.

Where do you start?

So where do you start? The first place I would advise is to look at your financial position today and make the necessary steps to either create more money or to repay what you owe.

Look at your mortgage, if you have one. Why not get your house valued? Your local estate agents will do this for free. Compare the value of your house to your outstanding mortgage and the difference is your equity. And at the same time make sure you are on the best mortgage rate possible! If you are on standard variable rate, then it’s time to talk to an adviser and move to a better rate.

We are really equity heavy at the moment. We have a huge chunk of money locked up in the equity of the house, but we can’t touch it as we are both self-employed without the books to apply for a new mortgage! Such is life. We could sell it to release the money, but then we would have to move to rented accomodation due to our earning and mortgage restrictions.

Look at your balances of savings and the money you owe. Firstly, the positive how much do you have in ISA’s, day to day savings, the coin jar (!), money owed as a business. Add this up and then compare it to money that you owe. This money you owe is a biggie and you need to reduce it as quickly as possible particularly if there are interest charges.

Tackling your debt

With debt firstly work out if you can move debt with interest payable to interest free cards, there might be a small transfer fee for doing so. Then work on a plan to pay it back. I recently wrote about our debt confession. Read more here. I am prioritising the cards where interest is payable, and have shifted as much as possible to an interest free card. I manged to get a card that was interest free for 42 months!

Before tackling anything involving creation of wealth you really need to tackle the debt first. And have a clear plan of how it will be paid off and over what time period. The creation of wealth is where I know I need advice. There is a school of thought that your money should be diversified between a few areas of investment. So, some in investment funds (maybe via a stocks and shares ISA), some in a pension, some in property. There are many things that can be invested in, perhaps gold, art, wine, bonds. What is important with these areas is to get advice.

I will be seeking out the best companies that offer these investment services this year. I will be targeting companies who keep it simple, charge low fees but can show a great return. I am looking forward to finding these products.

FREE financial planning sessions are available this week!

If you need advice about your current and future financial plans this week is the time to go for it. This week is financial planning week and you can sign up for FREE financial planning session right now with the not for profit financial services body CISI. The initiative takes place all this week 8-12th May 2017 is being led by CERTIFIED FINANCIAL PLANNERTM professionals alongside other CISI qualified professionals. They are offering free financial planning sessions, worth up to £500, either in person, via skype or over the phone. The website for consumers to book a free financial planning session is Cisi.org/fpweek, email fpweek@cisi.org or call 020 7645 0708. I know I am going to book one!

This is a collaborative post

Introducing Money Life Live – A day of financial resolutions

Financial Resolutions with Adam Piplica

Here is a guest post from Adam Piplica of the website Magical Penny. Adam is a fellow money blogger who I have had the pleasure to work with on a few campaigns and have met in person several times. He has the interesting story of starting off as a personal finance blogger and is now training to become a financial planner.

He is running a fantastic 1 day Money Life Live being held this Saturday 14th January in York. Are you interested? Then read on.

New Year, New You?

It’s the start of a new year and many are using the turning of the calendar to make new year resolutions and plans for 2017 and beyond. Planning and making resolutions are a bit like babies. They are fun to make but more of a handful and sometimes an annoyance to keep! (are you nodding your head right now, parents?)

When the excitement of a new year begins to wear off, you will need something more substantive to sustain you in your new quest. You will need a strong vision followed by an actionable, non-overwhelming plan.

It can be hard to keep all the various plates spinning in a busy household and sometimes finances and budgets can be knocked off track unexpectedly. However, if you have a strong vision of where you want to be in the future it can be easier to get back on track after setbacks.

Have you got a strong vision of your future?

What is your vision for the future?

Asking a child what they want to be when they grow up is a common question. Perhaps some adults ask it to get inspiration for their own lives! And quite right too, as it’s not just a question for children. Everyone can benefit from some introspection every now and then.  It can be all too easy to stop looking towards the blue sky of the future when we’re wading through the sometimes-muddy-waters of life. But if you take some time out to dream, you might be surprised with what you come up with and see how your life can change and develop in beneficial and meaningful ways.

It starts with having a clear vision for your future. Give yourself permission to dream this January, and write down some of your ideas and visions for the future. It’s much easier to get to where you want when you know what it looks like. Make it crystal clear but know that it doesn’t have to be 100% right first time.

Introducing Money Life LIVE

So who am I to tell you this? I’m Adam Piplica, a former market research executive who, after looking at lots of numbers every day, took some time to reflect on what numbers mattered the most, and decided to move into the career of financial planning – helping people find clarity in their own financial numbers and how they can translate to their life goals.

I’ve decided to host an event to educate and inspire you; to help you take some time to identify where you are at in life and what you might want for the future. Even if you are happy with your life right now, you might not know what you are missing out on in your financial infrastructure.

The event aims in 1 day to help you gain clarity on what matters in your life, and learn how to optimise your financial life, together with a community committed to creating a life they dreamed.

The speakers who have agreed to speak are fantastic and include professional financial planners will be covering other personal finance topics ranging from debt and savings, to investing and financial wellbeing, and also ways to earn more.

You’ll leave with some great ideas, and inspiration to put things into action, for the benefit of your entire family.

Money Life LIVE is a full-day life-changing event happening in central York on Saturday 14th January 2017. Can you come? For more information and tickets visit: MoneyLifeLIVE.com