When did you last have your financial check-up?

If the Pandemic, recent cost of living crisis and budget has taught us anything it’s how important our health is to all of us. As an adviser to medics who work daily on the frontline it has made us realise this more so than ever. It has encouraged us to examine our physical health, whether that be by enjoying a relaxing walk through the park or getting in a run before a day of Zoom calls. It has encouraged us to take into consideration our mental health, to take those self-care moments and check in with our loved ones. However, how often do we check in on our financial health?

Many of us don’t seek advice unless there is an obvious problem, but like going to the doctors or dentist it’s better to keep up with your check-ups before the pain starts. By checking in with an experienced financial wellbeing planner we can help you prepare for the future and feel secure in your finances. We want to make sure that you are taking care of your financial wellbeing by referring to these next five steps that will keep you well equipped, focused and always looking ahead.

Set Life and Financial Goals

This is where we start to learn about what your priorities and the type of future you are working towards. You will answer questions such as ‘why am I saving?’ which will lead our discussion, direct the goals we set together and act as your motivation.

Save For the Future You Want

Together we will identify the type of future you are aspiring to have and set saving milestones that are achievable for you. We will look at ways you can start saving now to make the future you want possible for you then. By getting you thinking about the practicalities and even retirement, you will always be one step ahead!

Spend Less Than You Earn

To keep your finances in good health relies on us making sure that you are spending less than you earn. One simple way you can do this is by regularly comparing the costs of your essential household bills. Not only this will open up your options by allowing you to save more, but it will also put you in control, leaving you feeling more secure about your future.

Help Maximise Your Money

As well as making sure that you are saving, you also want to make sure that you are stretching your money as far as you can. By working alongside a financial wellbeing planner, you can utilise our leading industry experience to ensure that you are taking advantage of all of your options and maximising your money.

Protect Those You Love

At the heart of everything we do is the knowledge that we are relieving financial orientated anxiety for our clients and are helping them to lead happier lives through the process of caring for their financial wellbeing. Together, we can create a plan that you can rely upon in moments of uncertainty such as instances of redundancy, accident, or illness to keep your loved ones protected. This will offer you peace of mind and is another signifier of your financial wellbeing.

I hope this article has motivated you to take a proactive approach to your finances and has given you some questions to ask yourself, to discover how far you are on your journey to achieving financial wellbeing.

So, we encourage you to refer back to these five pillars and ask yourself ‘when was the last time you had a financial check-up?

The value of an investment with St. James's Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested.

Please note that SJP do not offer deposit based savings accounts.