Expert financial advice By Andy Oliver, CEO of Private Client Consultancy
Financial Resolutions for 2022
W
ith the Christmas season of a poor score. Therefore, it is imperative to Make better investment decisions over, Private Client obtain a decent credit score. If you are unsatisfied with the way you have Consultancy is gearing up The first step to improving your score is actually been investing in the past, it may be time to for the year ahead. knowing your score. Keep track of how you’re sit down and contemplate what other options At the beginning of every progressing and conduct annual credit reports you have. For example, if you are interested new year, so many of us set ourselves up with to stay on top of it. in investing in a way that reflects your values a list of resolutions to try and become better The next step is to pay off your credit card and beliefs, you may want to consider ESG versions of ourselves. However, new year’s balance on time each month. There are investments. Private Client Consultancy is resolutions can be hard to stick to. Therefore, convenient ways for doing this, which may committed to putting sustainability at the center I am going to provide you include setting up autopay of our investment process while still seeking with a guide that will make and ensuring you will have returns. Speak with an adviser about how we Typically, people it a bit easier to achieve sufficient funds at the time can help you with these kinds of investments. your financial goals for of payment by setting aside You may also want to review your portfolio to work multiple jobs 2022. money for this purpose. examine whether it is diverse enough. Spreading Build savings Lastly, pay off your debts your money across a large range of assets throughout their When it comes to financial as soon as possible. and markets will allow you to maximise your lives. Because of this, This will not only raise opportunities for larger returns. When reviewing goals, saving more is almost always at the top score, but it will also your portfolio, there are three elements you will many have pension your of the list. A good place prevent you from having want to consider: 1) Are you investing across to start is by building up multiple different countries or regions? 2) Do funds that they have exorbitant interest fees. your emergency fund. Keep track of your you own both shares and bonds? And 3) How either lost track of While it is always a good pensions much variety is there within the sectors you own idea to have savings for a Typically, people work (i.e., technology, retail, etc.), and can you do or forgotten they rainy day, an emergency multiple jobs throughout better? fund can be useful in other their lives. Because of this, Speak to an expert to maximise your returns. even exist. Tracing ways. For example, it can many have pension funds Consider your life goals when managing help you avoid liquidating old pensions can be that they have either lost your finances your assets at depressed track of or forgotten they What all of this planning ultimately leads to a time consuming prices when markets are even exist. Tracing old is providing you with a comfortable life in particularly volatile. pensions can be a time your retirement. Therefore, it is important to and tedious process, What you will want to consuming and tedious remember the end goal and whether you are consider next is if you are but it is necessary to process, but it is necessary still on track to achieve it. Keep your specific making the most of your to obtain the funds you are saving and investment goals in mind with every obtain the funds you entitled to. Our advisers financial decision you make. If you feel you have savings. Some accounts only allow you to earn as can make the process less deviated from your retirement plan in any way, are entitled to. little as 0.01%. If you can stressful by helping you speak with your adviser about how to get back get at least .5% interest track down your pensions. on track. on a balance of any size, this will help you Once you have traced your pensions, you may It pays to start planning early. If you would like start earning more income. Additionally, if you want to discuss with a professional whether it to discuss your plan with a qualified adviser, have several different small accounts, you can would benefit you to move all your funds into please get in touch with us at info@pccwealth. bring them together to access a more effective one place. com interest rate. Of course, this can also help with Additionally, if you can managing your expenses more effectively. afford to max out on What all of this planning ultimately leads Clear your debts what your employer Managing debt can be stressful, but reducing contributes to your to is providing you with a comfortable and consolidating it will help relieve your pension, do so. This tension. For example, if you have recently been will increase your life in your retirement. Therefore, it is given a pay rise or have taken a higher-paying retirement pot. You important to remember the end goal position, it may benefit you to put this extra should also review income towards your high-interest balances. your national insurance and whether you are still on track to Additionally, you may want to discuss strategies record to ensure that for reducing your loans in a cost-efficient way you have been credited achieve it. with one of our advisers. for every year you’ve Improve your credit score worked. There are Bad credit scores often prevent people from specific benefits you can claim if you are, for Finally, on behalf of all of us at PCC, I would being approved for loans, credit cards, and example, a couple with children. This has the like to wish you a very happy and prosperous mortgages. Not only that, but you may also be potential to add a significant amount to your new year. charged higher interest rates solely because pension in retirement.
50
www.eastalgarvemag.com
