WHEN IT COMES to looking at the future and organising your home, it’s really important to include your finances in the process, and we’re not just talking about scooping all the coins from down the back of your sofa.
It’s about thinking about what is best for you and your family’s future, whether that be planning for future education needs like university and accommodation, a family holiday, helping a family member get on the property ladder or making sure you can provide for your loved ones if you pass away.
That’s why we’ve gotten some top tips from experts so read on to find ways to make sure you’re on top of your money and be comforted in the knowledge that you’ve taken care of things for now and the future.
Financial planning is for everyone, it’s about taking stock of your current financial situation and identifying your needs and goals. It’s not about cutting out that one takeaway you have every couple of weeks, or getting rid of all the good things in life. Financial planning identifies changes that can be made for a healthier financial life and develops a plan to achieve your objectives. Being proactive in your financial planning can build a solid foundation for your finances both in the present and in the long-term, meaning you’re in a better position to deal with unplanned outgoings as well as setting you up for future goals, like building a university fund for your children. Whether you’ve just bought a house, had a child or are expecting a child, it’s never too late to get planning for your future and making sure your family is in the best financial position possible.
You don’t need to have investments or huge savings and know all about pensions to talk to a financial advisor. In the same way you go to a personal trainer to make sure you’re exercising properly or go to the dentist for regular check-ups to make sure your teeth are healthy, by getting a free financial review online or by speaking to a financial advisor you can take stock of your finances and make sure you’re doing everything possible to stay on the right path. Having a plan and getting advice are the first steps on this path. Starting early means you’re in the best position possible to achieve your long-term goals.
A cluttered house or cluttered mind can make you feel unproductive, and the same can be said for cluttered finances. Financial stress can lead to anxiety and other issues which can affect your mental and physical health. By managing your finances better and having a more secure financial situation, you can reduce your financial stress and help improve your health and wealth. A financial plan can also bring a sense of satisfaction and fulfilment that helps to positively impact your mental health.
It’s easy to feel a little overwhelmed by the whole thing and not know where to start the process. Very few people are financial experts so you’re not alone in feeling this way. But there are experts out there who can help you with this part of the process and get you on the road to dealing with your finances. Do not be afraid to ask for advice because there’s some readily available help out there.
Completing a financial review is a good starting point, as it gives you the confidence that you’re getting expert advice on the first steps in this process. Every journey starts with a single step.
With Irish Life you can now complete a full financial review online and get a plan with recommendations personalised to you and your situation. As it’s online, you can do it at a time that suits you. And if you need it, Irish Life’s financial advisors are on hand to help. Once you complete the plan, you can book an appointment with a financial advisor – at a time that suits you – who will help you start putting the plan into action and answer any questions you may have.
Every family is different and that means that Joe Soap’s plan, which worked for him and his family, may not suit you or your family’s needs. But your personalised plan from Irish Life takes into account your own unique needs, preferences and circumstances. This can provide you with a clear roadmap for your longer-term finances and help you feel more confident in your financial decisions. You can feel secure in the knowledge that you’re building a plan that will work for you.
For more information, visit www.irishlife.ie.
This article is kindly sponsored by Irish Life Financial Services.
Irish Life Financial Services is tied to Irish Life Assurance for life and pensions business.
Irish Life Financial Services Limited is regulated by the Central Bank of Ireland.
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