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6 steps to financial Freedom

Personal Finance Tips for your Local Personal Financial Adviser

For many people, the new wealth is freedom. Be that time, location or financial freedom: it doesn’t

always mean having millions in the bank, it’s just having enough to live the life you want.

I am sharing six of my favourite tips on how to get there.

Have a Financial Plan

A clear plan and budget can help you to speed up reaching your financial goals. When you become 

more conscious of your spending, it’s amazing what you can achieve. Having a plan isn’t about depriving

yourself, it’s about living with a little discipline to avoid a life of deprivation. My job is to help you figure out how to live the life you want.

Build Good Habits

How we think about money can have a huge impact on how we manage it. Many of our money habits

are subconscious. Building good financial habits isn’t necessarily about the things you’re doing but

more the person you’re becoming. You don’t need a wealthy background to create wealth.

Have an Opportunity Fund

Life throws up surprises. An opportunity fund is 3-6 months worth of expenditure in cash savings which you can rely upon if needed. Emergencies do happen, so having this fund allows you to deal with them. Spending money on emergencies isn’t fun but it is better to have it than need it.

Make Sure you are Protected

Protection (i.e. life insurance, critical illness and income protection) is often overlooked but in my opinion it’s the base of any financial plan. You can save as much as you like but if you become ill or a loved one passes, it’s crazy how fast savings can deplete and your life can change. I make sure that you protect what matters the most.

Pensions

Contributing to a pension is one of the most effective forms of savings. Not only do you receive valuable tax benefits but if you are employed, you receive extra contributions from your employer. If you own a Limited Company, pension contributions are an allowable business expense and can reduce your corporation tax bill.

Start Investing

Investing should be for your long term savings and you can start small at any point in your life. The power of time & compound interest can be so impactful. Investing is one of the best ways to build wealth. It is my job to ensure that you are choosing the right investments for you whilst investing in the most tax efficient way.

Make sure you are on the right path to achieve financial freedom.

Hannah Whiteley DipPFS

Financial Adviser

E: hannah.whiteley@sjpp.co.uk

T: 07521 154377