Spring Clean Your Finances

Last Updated on : 27th April 2023

With the cost-of-living squeeze tightening, we need to ensure that our money is working harder and smarter for our families. Building money conversations into our everyday lives helps us build financial resilience to face income shocks, life events and whatever the future throws at us. Lawrence Gold from Gold Wealth Management has some key tips:

Give yourself a financial wellbeing audit: An annual audit of your finances can help you feel more in control and improve your overall wellbeing. Plan your money. It will help you stay on track with your financial goals:

Set up a plan
Prepare for the unexpected
Control your day-to-day spending
Consider later life plans

Just got that much awaited pay raise and are already scrambling for cash? Why did the new cash flow not help? Lifestyle inflation may be the reason.

Here’s 5 solutions: Cleaning up your finances can help bring clarity and control over your money and help make sure it’s still working hard for you.

Declutter your direct debits
Switch providers
Organise your accounts
Tackle your debt
Cut back on spending

Here’s 5 ways to have more money: Feeling the pinch? These are 5 quick ways to have more money right now:

Sell stuff you no longer need or use.
Make a plan – keep on top of your outgoings and make payments on time so you don’t incur fees
Set goals – financial freedom should be the goal for all of us. More money means more ways to enjoy life
Adjust your lifestyle – If you are taking on new expenses you may need to cut back on other areas you spend on
Reduce regular payments. Instead of getting a new phone on finance every year why not keep the one you have a bit longer if it still works fine

Lawrence, recognisable for his role as financial expert in the award-winning BBC2 programme, ‘The Bank of Mum and Dad’, has successfully helped many families’ structure their finances over his 30-year-long career. ‘There is no silver bullet. It’s all about life goals,’ he says. In fact, Lawrence established his family business, Gold Wealth Management in 1996 to help people achieve those life goals. ‘By examining finances holistically, we find opportunities to save, make, and protect their wealth.’

goldwealthmanagement.co.uk

Gold Wealth Management Ltd is an Appointed Representative of and represents only St. James’ Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority) for the purpose of advising solely on the Group’s wealth management products and services, more details of which are set out on the Group’s website www.sjp.co.uk/products. The ‘St. James’s Place Partnership’ and the titles ‘Partner’ and ‘Partner Practice’ are marketing terms used to describe St. James’s Place representatives.

SJP Approved 25/04/2023