Time to Review Your Finances
For many people was a year of pain and hardship. A global depression, stock market upheaval plus a general feeling of uneasiness have left a great deal of individuals unsure about next year.
Hopefully 2010 will be a greater year. Nevertheless there are measures we can put into place to improve our .
1 thing we can do to put the position into perspective is to review our financial situation. Whether it is your house finance, loans, savings, income or spending habits need to be re-examined on a regular basis.
Taking out a review will assist you to discover where your finances can be improved and maybe where you should make improvements.
It is fundamental to review your savings and investments, to ascertain they are suitable to the amount of risk you are ready to take on. It is also worthwhile reviewing your credit cards such as Amex, Visa, gas and electricity as well as household insurance to see if you could get a better deal. Even a small saving could make a difference to your monthly budget.
Making the most of your annual taxation allowances such as ISAs, capital gains tax allowances and pension planning are also ways of reducing the level of taxation you could pay.
Whilst income and capital gains tax are significant, the result of IHT should too be thought about.
Many have assets in excess of the value of the IHT Nil Rate band. Efficient tax planning can be used to shrink the overall amount of tax their beneficiaries might have to pay.
For many people, the functions provided by Financial Advisers allow them to review and implement changes to their finances.
If you believe that you would gain from impartial financial advice please call us on 01454 321511.
Consilium Asset Management
