Financial planning

Navigating a successful financial future

Whether you’re interested in setting clear financial goals, saving to buy a property or planning an enjoyable retirement, a positive side-effect of getting a solid plan in place is the impact it makes on your financial wellbeing.

Strong financial wellbeing comes when you’ve built a good relationship with your money and have peace of mind about your financial circumstances. These elements enable you to thrive, whatever your stage of life.

In our recent webinar, The Fry Group’s Huw Wedlock, Director, and Jack Lear, UK Financial Planning Manager, looked at some of the fundamentals of financial planning, and how getting the right plans in place can help you achieve greater wellbeing and stronger peace of mind.

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The five key habits of financial wellbeing

Money can be a deeply emotive topic, and financial decisions are driven by a combination of logical decisions and emotions – which might sometimes pull in different directions. Nevertheless, there are five good steps which can help guide your decision-making:

  1. Intentional spending – make conscious decisions and allocating money to the areas which matter most to you.
  2. Spend less than you earn – build financial resilience by carefully reviewing your budget and avoiding lifestyle creep alongside setting up an emergency fund to help prepare for unexpected events.
  3. Start saving early – time is one of the key elements when it comes to saving and investing, and the impact of compound interest can be extremely beneficial.
  4. Manage your debt wisely – categorise your good and bad debt and understand which areas you need to prioritise and clear most quickly.
  5. Set clear financial goals – understand what you want to accomplish, and the financial resources needed in order to achieve your dreams.

As well as a comprehensive review of financial decision-making, the webinar also covered the key elements of a robust financial plan, including a closer look at cash-flow modelling and the power of investing efficiently. The team reviewed how much you might need to save in each life stage, in order to help reach chosen life goals as well as the importance of being realistic and enjoying the journey!

To discuss any aspect of your financial planning please contact your nearest office.