Now Is a Good Time To Get Your Money Sh*t Together

Like many people, you’ve always promised yourself that you will get on to the difficult jobs when you have more time.  These jobs might include a good spring clean of the house, re-decorating and sorting out the cupboards and drawers. It might also include sorting out your finances.

With the current lockdown restrictions now is as probably as good a time as you will get.

If sorting out your finances is on your to-do list here is a checklist of the sort of things to deal with. Click on the links to understand more about each topic.

  1. What’s the purpose of your money? In other words, what are you trying to achieve with it, now and in the long-term?
  2. Do you know how much is enough to retire on?
  3. What’s your plan to make sure you will have enough money to enable you to use it in the ways that are most important to you?
  4. What are you spending your money on and is it consistent with your priorities? This expenditure questionnaire will also help.
  5. Do you have enough cash to help you through periods where you are unable to work or to cover other emergencies?
  6. Is the cash you have earning as much interest as possible?
  7. Do you have too much in cash and so inflation is eroding much of your real wealth?
  8. Are you and your loved ones protected if you have an accident, serious illness or even die?
  9. Are you investing enough in ISAs and pensions?
  10. Are your pensions and ISAs invested appropriately?
  11. When was the last time you reviewed your ISA and pensions?
  12. Are you paying too much interest on mortgage and other debts?
  13. Can you and should you reduce your mortgage?

If you would like help reviewing your financial situation please do get in touch.


Photo by Jessica Lewis on Unsplash

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