New Year, New Finances

Are you always wondering why there’s more month than money? Do you impulse buy to cheer yourself up? Do you happily plan holidays, but bury your head in the sand when it comes to pensions?

So we are now into Febraury. How are you getting on with your new year resolutions? Was one of your intentions to improve your financial situation? If we believe the media, our finances are going to be that bit tighter in 2012. In past years it was common to borrow in order to spend when times were good. We would then remortgage our homes as they continued to increase in value and repay the debt. However, the growth in house prices has now stopped and many find ourselves on a backward slope, making it a lot harder to find credit to consolidate the debts.

If the easy credit has dried up and the recession is biting you deep, now is the time for you to start taking control of your money…. before it controls you! Money worries can be one of the biggest causes of stress in our lives yet no one takes the time to help teach us how to manage our finances effectively.

I was taught by my Dad in my teens how money works and how to plan for the future. Like any teenager this went in one ear and out the other a lot of the time. I took advantage of bank overdrafts thinking it was ‘free’ money for short term pleasures such as a night out. However, as I moved on in my career as a financial adviser many of my Dad’s teachings began to resonate with me. It is from this I believe I have the basics right when it comes to my day-to-day personal finances.

Like a lot of people I dream of more money and what that will enable me to do. I know this will be the case. I believe that all financial planning begins with the basics. Whether it’s setting monthly budgets or saving for next year’s dream holiday, it all starts with planning.

At Financial Choices, I provide ‘Financial Coaching’ as one of my core services, designed to help, support and guide you through the tough financial world. I know where the pitfalls are, and I use tried and tested strategies to help you manage your money better and make the most of it.

Whether you want tips on taking emotional control of your finances, choosing goals and planning how to achieve them, paying off holiday debt, establishing budgets, investing, spending or simply living within your means, this is a genuine offer for you.

I begin this process by sitting down with you and establishing where you stand today, developing sustainable budgets and working out some goals you can work towards. Then we plan on how you will pay for these goals by putting them into writing and formulating a plan designed to offer key tips and strategies to help ensure you achieve these goals. I have listed some simple tips to help you start the process;

1. Put your income at the top of a page or spreadsheet (I use a basic Excel spreadsheet)

2. Set aside time and write down all your outgoings on a monthly basis.

3. For 6-8 weeks, take a note of all your outgoings – this will give you a good idea of where your money is going.

4. Once you have this on paper, you can work out whether you have a surplus or deficit each month.


5. Review your outgoings. Is there anything you can stop? i.e. Gym membership if you don’t use it. Can you get discount by paying direct debits i.e. Gas, electric?

6. Take time out every week to review your outgoings.

By doing the above, you will already be in a better position. If you haven’t got much money left over or you think you might be getting into difficulties, don’t panic! – There is help at hand.

My aim is to try and help you get back in control of your finances which will allow you to live comfortably and hopefully allow you to achieve those all important financial goals.

For 30 minutes of your time, either in my office or at your home at a time that suits you, you can take start to take control of your financial decisions before the uncertainty of this world makes the decision for you…

Call me on 02890 769 769 or email paul@financialchoices.org.uk

My business relies on ‘word of mouth’ business and therefore referrals are very important. I can provide financial advice in many different areas so please feel free to pass on any of my details to your friends and family. As a way of thanking you for an introduction I will send you a £25 Marks and Spencer’s voucher for everyone you send who becomes a client.

The contents of this blog are believed to be correct at the date of this publication (January 2012). However, all the information and figures are subject to change and you should always make enquiries and check details and where necessary seek legal advice before entering into any transaction.

The information in this blog is simply my opinion and does not constitute financial advice. You should seek professional advice tailored to your needs and circumstances before making any decisions.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

A mortgage application fee of £99 will be payable upon application. An arrangement fee of £249 will be payable upon drawdown of the mortgage funds. This may be waived at our absolute discretion.

Financial Choices UK LLP is a limited liability partnership registered in Northern Ireland with registered number NILLP3 and registered office 1 Belmont Office Park, 232 Belmont Road, Belfast, BT4 2AW and is authorised and regulated by the Financial Services Authority.