Just Starting Out?

Where have all the years gone?

I’m not that old! But I keep wondering where all the years have gone. Recently, I’ve been finding myself saying it out loud, quite often. In fact, I even posted about it this week on Facebook.

I remember when I was a child, my mum used to say the same thing, and I’d think: “Here she goes again.”

My advice now to the younger generation would be…

Treat your income like a business

Feet-concept-with-pink-sneakers-on-black-background-000065377271_FullIt’s so important to budget for the things you would like to have, but debit cards make it too easy to spend money without thinking about it.

As financial advisers, we calculate the income and outgoings for lots of people. Many of them are shocked about the amount they spend without having anything to show for it, and how little is left over afterwards.

Take advice whenever your life changes

It’s wise to seek financial advice each time you go through a major life change, such as buying a house or having a baby. In order to make good decisions, you need to have all your options on the table. As advisers, the most important role we play is a sounding board for your ideas.

Live within your means

It can be so easy to buy things on credit, but it can take years to clear the debt. a few times I have been envious of how much people seem to have. Later, I have found out they have huge outstanding credit card debts, and felt a lot better!

Start saving young

I am sure you have heard it before, but it’s good to start saving at a young age. When saving for life events such as retirement, it is so much easier to put a little away over a long period than it is to put a lot away over a short period.

At Monetary Solutions Ltd, you can book a free initial consultation about any financial matters, so please call us on 020 8655 8488.

Allowances, limits and thresholds correct at the time of writing, but are subject to change in the future. Please confirm the current position before taking any action

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