Finance

Steering you through choppy waters

The current economic climate presents many challenges, including how best to look after your finances. This applies to individuals and businesses alike. It can be difficult to budget and think about the long term when the news is all about inflation and rising energy costs – this is where I can help. Inflation and your savings

A sharp rise in the cost of living effectively takes a large chunk out of the purchasing power of money and thereby drastically erodes the real value of cash savings. For instance, if you held £10,000 in a building society account a year ago earning a rate of 1%, you would have received £100, and your total balance would be £10,100. However, with inflation running at 10%, the same £10,000 worth of goods and services bought a year earlier would now cost £11,000. So, although you may feel you have gained £100, when factoring in the effects of inflation, the value of your cash savings has actually dropped by £900 in real terms.

Getting investments to work for you

As well as potentially offering protection from inflation, some investment products also enjoy significant tax advantages that make them particularly attractive for the long term – pensions and stocks and shares ISAs fall within this category.

Saving money on protection insurance

You may be considering stopping your protection insurance or be thinking twice before taking out a policy. Cutting back on protection is not the same as spending less in the supermarket. Indeed, in turbulent economic times, protection is more important than ever. With the right protection, you are paying for peace of mind and the certainty that you and your loved ones will not suffer financial hardship. A policy doesn’t have to cost the earth – I can help you find a plan to suit your current and future needs.

Your local independent adviser – here to help

Gary Tromans from Equitas Financial provides advice to individuals and companies in your area: I am committed to putting clients at the heart of everything I do and providing the best possible service. I pride myself in offering clients a truly independent financial planning service. By spending time to understand your needs and aspirations, I can develop the most suitable individual solutions from the best offerings in the whole of the market from my 35 years of banking and financial services experience. I’m only a phone call away and based locally to you, so if you have any questions or would like to discuss any aspect relating to the impact of inflation on your savings, investments, pensions or protection policies please get in touch. I offer a no fee/no obligation initial consultation.

Gary Tromans Independent Financial Adviser

The value of your investment can go down as well as up and you may not get back the full amount you invested. The purpose of this article is for general information and should not be interpreted as a personal recommendation or advice.

WE PUT OUR CLIENTS AT THE HEART OF EVERYTHING WE DO

Our aim is to help individuals and businesses to achieve their fi nancial goals. Our approach is straightforward. Tell us about your current situation and about your fi nancial objectives and when you want to achieve them and we develop a practical plan designed to help you meet those objectives. We’ll discuss the plan with you and agree the course of action you want to take. Whilst the fi nal decisions are of course yours, we’re here to help and guide you with jargon-free advice both now and in the future. 07769 355777 • 01822 481796 • gary.tromans@equitasfi nancial.net

www.equitasfi nancial.net

36 Mannamead Road, Mannamead, Plymouth, PL4 7AF