Confidence in your financial goals

Money affects people in different ways, whether that’s balancing the monthly budget or investing in the right products. Having confidence in your financial goals can make things easier.

Everyone worries about finances at some point. This includes people at all stages of life, on all levels of income and from all backgrounds.

We’re all human. We do not like making mistakes. Sometimes, that time spent mulling over money leads to anxiety and mental health issues.

Then, such concerns overlap in everyday life. You lose sleep, you get distracted at work, you might get irritable with friends and family.

It’s a vicious circle. Finding a way out seems beyond reach. Without financial goals, it is hard to focus on the future.

Financial wellbeing is important

To put things into context, a report done by Close Brothers Asset Management about employee wellbeing found that over three-quarters of people questioned (77%) had money worries that affected them at work.

This is bad for those individuals with concerns and also for the companies they work for.

Worryingly, the situation is getting worse. Younger people are finding things harder to deal with. The Close Brothers survey found that 87% of millennials had money worries that potentially hampered performance at work.

Just like keeping physically fit, looking after financial wellbeing can make other aspects of life easier to deal with.

To do that we need to train, learn and explore what opportunities are open to us.

However, from the research, over one third (34%) of people are not properly prepared to deal with unexpected costs or losing their job! That uncertainty creates doubt.

People should think about what they want to achieve in life. Then they can plan. Then they can tackle challenges in a more structured way.

Knowing where they want to be and when will instil confidence.

Get financially fit

To tackle physical challenges we get fit. We build strength and prepare ourselves to be tested. We should be doing this with our money.

The Close Brothers report reveals that only 8% of employees have an income protection product. Bizarrely, this low take-up of insurance is despite job security being a major concern.

We all need to be better prepared. That means making plans so that we can adapt and still move forward if things change.

With goals set, we can look to the future with more confidence. Short, medium and long-term plans mean less knee-jerk reactions to financial set-backs.

Logic Wealth Planning helps people assess what they want from life. Understanding core objectives helps to build a sound financial plan. We want people to be confident about the choices they make.

Please be aware the value of investments or income from them can fall as well as rise. We’re here to help you make informed decisions.

Call us on 0808 1234 321 or to arrange a no-obligation chat about developing a financial plan that you can be confident about.