How Can a Financial Adviser Help You Get Your Finances into Shape?

As we head into February, the usual New Year’s Resolutions to start a diet or fitness regime might have already been put on the back burner. However, it’s never too late to get your finances into shape!

Making sure your finances are in tip-top shape might seem as daunting as an ambitious New Year’s Resolution, and the challenge is hardest when you don’t ask for help. Here are four tips on how a local financial adviser like KLO Financial Services can help you shape up your finances this year.

Regularly Reviewing Your Budget

Setting out how much money you have coming in, where it’s going and how much you’re spending can breathe a breath of fresh air into your finances. This is because effective budgeting can help you to identify any unnecessary expenses, saving you money.

This is especially useful if you’re saving for a long-term goal, such as your pension. A local financial adviser can assist with this. Services such as personal financial planning can help with identifying those money saving opportunities that will allow you to plan for your retirement effectively.

Reviewing How Much You’re Paying into Your Pension

Are you contributing the right amount into your pension scheme? If, after reviewing your budget, you find that you’re able to increase your contribution, definitely do so. This is especially useful if you’re paying into a company pension scheme, as your employer should match a certain level of contributions.

Again, a financial adviser can assist you with independent pension advice, assessing how much you could be paying into your pension and how this could affect your savings in the future.

Ensuring You Have Enough Savings

Would your savings last you the whole duration of your retirement? If you’re unsure where to start, it’s a good idea to get in contact with a financial adviser to ensure you have enough savings to assist you in retirement, for emergencies or to pass onto your loved ones.

Assisting with Your Investments

You may have savings in cash, but have you considered investing to boost your potential income in the future? As investing does come with risk, it’s absolutely vital to seek the guidance of an experienced and chartered financial adviser to assist with this. Your financial adviser can work with you to ensure your investment portfolio is suited to your attitude to risk and recommend the best approach to achieving your financial goals.

If you’re looking for a local financial adviser, KLO Financial Services have offices in Birmingham, Warwick and London. Our friendly team are all highly experienced, meaning your finances are in safe hands. If you would like to talk with one of our financial advisers about your requirements, please contact us to make an appointment.