December 31st, 2009
When Did You Last Review Your Finances
For numerous individuals 09 was a year we’d rather forget. A world setback, stock Exchange set backs and a general feeling of unease have left lots of individuals feeling quite doubtful about the future.
Hopefully 10 will be a greater year. Nevertheless there are steps we can implement to help our savings.
A small thing we can do to put the situation into perspective is to look over our financial situation. Whether it s your home lending you income or spending patterns need to be reviewed regularly.
Taking out a review will assist you to discover where your finances can be amended and if you need to make alterations.
It is essential to reexamine your investments & savings, to ascertain they are acceptable to the amount of risk you are inclined to take. It is also worthwhile reviewing your credit cards such as Amex, Visa, as well as insurances to see if you could get a more acceptable deal. Even a small improvement could make a difference to your regular budget.
Making the most of your annual taxation allowances such as isa’s, capital gains tax allowances and pension planning are also ways of cutting the level of tax you might pay.
Whilst income and capital gains tax are important, the result of IHT should also be thought about.
Many individuals and parents, hold assets over the value of the IHT Nil Rate band. Effective tax advice can be used to cut the overall amount of IHT their estates might have to pay.
For numerous individuals, the functions provided by ifa’s help them to review and put into place amendments to their finances.
If you believe that you would gain from independent and impartial financial advice please call us on 01454 321511.
Consilium Asset Management
