What are your New Years Resolutions?
One in four of us have given up on our new year’s resolutions after only seven days according to a recent survey.Had you planned tonew_years_resolutions_list eat healthy, save more, exercise often, buy a home or start saving for retirement? One minor setback doesn’t mean having to write off the rest of the year.Improving personal finances is a popular New Year’s resolution. Here are a few ideas
Know what you’re saving for
Do you have a dream to be financially independent by a certain age or to start your own business? Get your savings started by putting money away in an Emergency Fund for unexpected events. It can be hard to keep up with the bills at times, but putting money away for a rainy day is important.
Create a financial roadmap.
What are your financial goals? Everyone needs to plan for basics like retirement – however far off that may be – but you can also map out your goals. Plan for big purchases like a house or a car and a vacation or education fund.
Review your existing policies.
If you have life cover or mortgage protection in place at the moment and you have not reviewed these for a couple of years the cost for the cover may have reduced. Reviewing these policies can often save thousands over the term of the policy. The same goes with pensions, find out what charging structure you are paying and have an Independent Financial Adviser review same for you.
Start building an emergency fund.
Start slowly with a few euro each month. For example, set aside €1 a day for a month. Then double that amount to €2 for the next month. Double that again a month later and keep that pattern up or talk to us about our Easy Access Savings Policy.
Look to the future.
Buying a home, paying for college and retirement are all big-ticket items that require sound budgeting and credit management skills. We have a number of qualified Financial Advisers here in Planalife who are all more than happy to discuss any of the above with you in more detail. Why not call us today?
