Regardless of age, job or sex there are worryingly few people in the UK who can say they are financially
secure. Financial issues, whether it’s paying off past debts or saving for the future, are frequently front of mind for most individuals. And as people’s lives changes they need to constantly reappraise their financial needs.
As illustrated below, the visitors will face a number of key life stages during which they will need a range of help, advice, products & services.
SETTING UP A HOME
Renting or buying, a home is firmly at the top of most people's priority list for financial planning.
STARTING A FAMILY
Starting and raising a family is probably the biggest event in anyone’s life, and has the greatest impact on personal financial circumstances.
MAJOR PURCHASESCars, holidays, weddings and home improvements etc. How people budget for major purchases has an enormous effect on their financial situation.
HIGHER EDUCATION
Going to college or university involves a lifestyle change and often considerable extra expense – for parents as well as students.
TAX PLANNING
Everyone needs to understand what taxes they owe and the benefits they can
claim. Your Money Matters will provide a clearer route through the tax maze.
RETIREMENT
Many people haven’t made adequate provision for their retirement, but could
they survive on the state pension? Sometimes urgent action is needed to avert
a potential income crisis.
INHERITANCE PLANSOften people fail, unnecessarily, to ensure that their family is left financially secure. Planning for inheritance and making a will can dramatically reduce any tax burden, and avoid anguish and bitter disputes among family members. Despite this, 70% of UK adults have not made a will.
ACCIDENTS HAPPEN!
Redundancy, illness or injury can have a serious impact on personal finances. Planning for the unexpected and coping with it needs careful thought and consideration.
COPING WITH DEBTSpiralling personal debt is now a fact of life for many. Staying in control of credit cards, personal loans and other debts sometimes seems impossible, but is vital to achieving financial security.