When Did You Last Reassess Your Financial Situation
For numerous people was a year of hardship. A global setback, stock market turbulence and a general opinion of uneasiness have left lots of people feeling uncertain about next year.
Hopefully 2010 will be a happier year. Even So there are steps we can put into place to help our .
One thing we can do to get the position into perspective is to review our financial situation. Whether it is your mortgages, borrowing, savings, income or purchasing patterns need to be re-examined regularly.
Taking out a review will help you to identify where your finances can be amended and where you need to make alterations.
It is essential to review your investments & savings, to ascertain they are suited to the level of risk you are willing to bear. It is also worthwhile reviewing your MasterCard and visa, gas and electricity as well as household insurance to see if you could get an improved deal. Even a small saving could make a massive difference to your monthly budget.
Making the most of your annual taxation allowances such as ISAs, capital gains tax allowances and retirement planning are also ways of keeping down the level of taxation you could pay.
Whilst income and capital gains tax are significant, the impact of IHT should also be considered.
Many people hold assets in excess of the value of the Inheritance Tax Nil Rate band. Good tax planning can be used to cut the amount of inheritance tax their beneficiaries might have to pay.
For numerous people, the services offered by Financial Advisers allow them to review and put into place changes to their finances.
If you think that you would benefit from impartial financial advice please contact us on 01454 321511.
Consilium Asset Management
