Building foundations for successful financial planning

January 2018

Foundations of successful financial planning

Leon Hunt - Private Client Consultant  
Leon Hunt   
Private Client Consultant                     

Taking the time to review your financial situation can really save you money and give you greater opportunity to save for your future.

Leon Hunt gives some handy tips on how budgeting can help you and your finances.  

The benefits of a budget

A regular review of your outgoings will help you to see how you are spending your money and help you to prepare for any unexpected expenses which may arise from time to time.

Managing your cash flow can give you control of your money and help you to plan ahead. 

When you review your financial plans with your Consultant, having a budget will make it easier to identify areas for saving money and also provide you with a clear budget for making additional investments, or additional luxuries, such as an extra holiday.   

Getting started

Our Budget planner provides a simple way for you to assess your net income against your net outgoings.

  Origen Budget Planner

Money Advice Service research found that households who do use a budget planner say it gives them peace of mind about how much they are spending and makes them feel better about life in general.

You may find some simple ways of reducing your outgoings.

Sharing your Budget planner with your Origen Consultant will help to identify financial planning needs and set financial goals.

If you fail to plan, you’re planning to fail 

Reviewing your budget provides the foundations for building strong financial plans to meet your financial goals.

Our Consultants can help you to review the savings, investments and policies which you have in place already. This review and analysis can help to address some key considerations including:

·         Are you exposed to the risk of a lack of diversification by holding the bulk of your wealth in a single asset or investment?

·         Do you have insurance to protect your key assets, including you and your loved ones?

·         Do you have access to ‘rainy day’ funds to cover emergencies? This should generally be up to six months income.

·         How have your investments performed over the last twelve months?

·         Has your total debt changed in the last 12 months?

This will enable you to review your progress towards meeting your financial goals, when you meet with your consultant, ensuring that you remain on track.

Setting your financial goals

You should set financial goals so that you can assess your progress. Your Consultant can help to make sure that your financial goals are achievable and affordable.

The world keeps on turning, so your financial goals may change as your circumstances change and you should review your finances regularly with your Consultant to check that you are on track.

Don’t forget, it’s equally important to budget for those capital outlays as well as the regular monthly outgoings.

Set the foundations for successful financial planning

Having clear financial goals and a budget plan will put you in a great position to benefit from financial opportunities or to tackle any financial challenges which you may encounter.

Contact your Origen consultant, so that you can build the foundations for successful financial planning for you and your family.

This article is for information only and is not to be taken as Financial Advice.

CA2036 Exp. 01/19


[ Date Posted: 19/01/2018 15:51:28 ]