Getting your finances in order doesn’t have to be tricky, scary or hard and you certainly don’t need to suffer the effects of procrastination when overdue bills arrive in the mail.
In fact, just imagine the feeling of control, power and ultimately, freedom of achieving financial fitness – security in the event of the unknown, a college fund for the kids and maybe even a cruise-around-the-world pot in retirement.
Kickstart 2017 and your money goals with top tips for financial fitness and then check in with us to find out more – we’re 100% committed to helping you achieve your dreams!
1. Set a goal
Without a goal you’ve nothing to aim for. Do you want to resolve a debt issue? Start a savings fund for your kids’ college education? Or retire at 55? Maybe you have a few goals and that’s ok! Being clear about what’s important to you and your family is the first step towards financial freedom.
2. Get your debt in order
Easier said than done? You would be surprised how easy this can actually be. Prioritising your debt repayments can save you an eye-watering amount in the long term, particularly as interest repayments compound. If debt is becoming a crippling issue then speak with your financial advisor about debt consolidation – there are plenty of options that can help you get your debt under control and help you sleep peacefully at night again.
3. Review your spending habits
Ouch. This is the one most of us don’t like – because it forces us to take a good, close look at our income and expenditure – and an honest analysis of needs versus wants. However the power to change your financial future lies in this important step, so consider it carefully and ask for help if you need to.
4. Prepare for the unexpected
As much as everyone values a positive outlook, sometimes there universe will throw us a curve ball we just don’t expect. In those situations, financial security is critical; the last thing you want is to be worried about how you’d pay your mortgage, your car repayments or for all those little expenses your kids need day to day. Protection against loss of income, sickness, accidents and even death can give you and your family the peace of minds you need.
5. Review your retirement options.
Whether you’re 25 and retirement seems a long way off, or 63 and longing to exit the rat race, it’s never too early or too late to review your retirement options. With the state pension looking likely to face frightening cuts over the coming years, your older self with thank you for thinking about your future and putting in place a plan for your retirement.
6. Consider an investment strategy
You don’t have to be a Wall Street trader to take advantage of investment opportunities that can make a real difference to your future and financial security. Savvy investors know the value of a second income source and have spent time selecting investments with sound returns. It pays to speak to a financial advisor you trust, that understands your values and goals, to help you consider an investment strategy that suits your needs.
7. Speak to your financial advisor for a free financial check-up!
This is by far the easiest step and potentially the most exciting! With help from a financial advisor, you can quickly get a clear picture of how financially secure you are, and what you need to achieve your goals. The Hennelly Finance team offers a free initial financial check-up, so it won’t cost you a cent to walk away with an understanding of what you need. Why not get started today? Give our team a call on 091 586 500 now, we’d be delighted to hear from you.