New Year, New Finances?

  • New Year, New Finances?

    New Year, New Finances?

    2019 is now well underway. If you made any New Year’s resolutions, how are they progressing?

    And how about your financial goals and objectives – have you put any plans in place yet?

    Be realistic

    In order to stick to any plan or resolution, it has to be manageable. Cutting down on your favourite tipple or increasing your gym visits to five times a week probably isn’t sustainable. Neither is setting unrealistic financial goals.

    Don’t be tempted to make huge, life altering changes without doing your homework. Perhaps you would like to move house – take a long, hard look at your current financial situation. Would taking on a bigger mortgage leave you short in other areas? Don’t neglect the rest of your financial commitments for the allure of the bright and shiny new temptation.

    Take control

    If you don’t know the state of your financial affairs, it’s time to become closely acquainted. Measure last year’s income against expenses, not forgetting debts or credit. Check in with any assets, investments, pensions and other savings. Is there anything you could do differently this year? Or perhaps things you would like to do differently. Be completely honest about your expenditure. You may find ways to save more.

    Keep planning

    It’s vital to have an emergency fund to cover any unforeseen circumstances yet it is also important to put monies to one side so you can enjoy your retirement. Don’t neglect it. Check regularly to make sure it’s performing well, increase contributions if you are in a position to do so and make sure you’re on top of any changes affecting pensions. It’s never too late – or too early – to start planning a pension, though the longer you leave it, the higher your contributions will need to be.

    Seek advice

    A professional and expert financial adviser will be able to work with you to reach – or even help you set – your financial goals. At Foxgrove Associates we know how to maximise tax-free savings and investment and pension opportunities. We can evaluate your current financial status and give you the tools to stick to those financial resolutions. We can help you with all your personal financial planning and retirement needs.

    For more information regarding this matter, we encourage you to give us a call on 01732 746188 or send us an email at


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