Your Financial Wellbeing
As the 31st of January looms large for self-assessment submissions and tax payments, thoughts turn to financial wellbeing … especially so in such unprecedented times.
Cupar has businesses and organisations who are on hand to advise and help you with all your financial planning – whether for the ‘here and now’ or making longer term plans for the future. Please feel free to share with anyone who might be interested. Thank you.
New year resolutions may already be distant memories – but the first weeks of any year are an ideal time to set yourself sound financial goals for the months ahead.
Here’s a few for starters …
- Living within your means: ensure you don’t spend more than you earn each month. Set yourself a budget based on what bank each month, and stick to it. And pat yourself on the back when you reach the first of the next month and you’ve done it!
- Keep a low credit score: so much is judged online based on our spending habits. Wherever you can, pay bills on time, keep low balances on any credit cards and don’t have all your eggs in one basket. If you don’t think you’re getting a good deal from your bank or lender – seek independent advice and shop around. You are the customer!
- Be prepared! This has never been so important. Financial storms can hit hard – and come from nowhere. The old adage of keeping an umbrella for a rainy day is really important. If you can, try to squirrel away a little each month for that security.
- Plan! This sounds easy and we know it isn’t. There is always something that seems more urgent. But plan your finances to make sure you are on top of them today … and tomorrow.
- Create a legacy? This won’t apply to everyone, but if you are at an age where you are thinking of ‘what next’, seek advice. The simple question to ask is “what will happen when I’m gone?“. Passing on wealth to family, creating a legacy with charitable giving … make sure you’re in control now so your wishes can be seen through.
The year ahead may bring all kinds of challenges: growing family? A new home? Setting up a business? University? Retiring? Downsizing? Everyone will have different circumstances.
Whatever 2021 holds for you and yours, think on this simple check list …
- Set a budget: this is the single most important step. The saying ‘fail to plan, plan to fail’ is never more true than when working out financial plans for any project.
- Reduce debt: lowering debt is a key step when taking control of your finances. Start by setting up a debt payment plan – and make a commitment to stick to it. There are many companies and organisations who can help you with this and we list those in Cupar below.
- Start saving: sounds easy. It isn’t. Too many talk of saving X per cent of your salary. It all comes down to budgets. Think on what you’re spending – can you save? Can you change any current payment plans on utility bills and save the difference? Can you sell any unwanted household items – from clothing to knick-knacks – and save the monies raised? Getting into the saving habit will help – no matter how small.
- Learn a little – and save a lot: you can do some research online, read books on the topic and talk with trusted family or friends. Reach out and speak with the companies and organisations in Cupar who are on hand to help.
Cupar’s financial experts are here to help
Cunningham Grant: “We are a progressive practice based in Fife and have a growing client base throughout the country, ranging from individuals and family businesses to professional partnerships and commercial companies. We like to get to know our clients and their business so that we become part of your team. We always want to exceed your expectations.”
E Q Accountants: “EQ Chartered Accountants is a modern, energetic accounting practice. We aim to inspire; supporting and encouraging you to consider your vision and realise your ambitions. Our understanding of your business coupled with our dynamic financial expertise gives us the power to see beyond the numbers and provide the optimum solution to your requirements.”
Henderson Black “We are general practitioners offering accountancy, financial and taxation services to commercial and private clients. Our aim is to give a personal service of the highest technical standard. To achieve this, we seek to develop a strong working relationship with each of our clients and to offer advice based on our wide business experience.”
- James Hair & Co Accountants “James Hair & Co was set up as a chartered accounts in Scotland by Jim in 1980 shortly after he qualified. Since then the company has grown to 4 partners, over 20 staff, and helped hundreds of clients with a wide range of services. Our mission has remained consistent over the past 40 years: to give you confidence in your finances, and to help to make your businesses more profitable and your wealth more secure.”
Cupar’s Financial Advisors …
- NFU Mutual: “Our Financial Advisers are here to share NFU Mutual’s wealth of knowledge, answer your financial questions and bring clarity and focus to your goals.” Call them on 01334 897958.
- R S Robertson Financial Planning Ltd:“RS Robertson Financial Planning was established in 1971. The Practice Principal, Gordon Laing, accepted an invitation to join St. James’s Place Wealth Management in 2014. Prior to this, the Practice was operating as an IFA for over 40 years. With offices in Cupar, Edinburgh, Glasgow, St. Andrews and Aberdeen, we are able to provide advice to clients across Scotland.” You can reach them on 01334 650019.
- RWS Financials: “Formed in 1997, RWS Financial Consultants was originally based in Dundee, but after expansion in 2002, moved to our present Head Office in Cupar, Fife, where all our Advisers are now based, covering the whole of Scotland giving face to face advice in clients own homes, places of work or in our office. At RWS Financial Consultants our aim is to provide exceptional service to both private and corporate clients.” Their number is 01334 656511.
Further advice and support …
- Bank of Scotland
- Co-Operative Group (at the Co-Op on Bonnygate)
- Nationwide Building Society
- TSB Bank
Thanks for reading!