Financial Well-Being Tips

It’s sometimes difficult to establish good financial planning habits. How healthy are your finances? Get into top shape with these five top financial well-being tips.

Get Yourself Some Income Protection

Are you in secure employment? The only thing that can really damage your financial security in terms of your earning power is the inability to work due to accident, injury, or illness. One of the great things about Income Protection, or salary protection, is relatively inexpensive. Over the course of your career, you are going to earn 2 million euros or more. For as little as €30 per month, you can ensure your income and therefore lifestyle is protected.

Put a Plan in Place, Discuss It and Sign It

You wouldn’t go on a road trip without having a map. By completing a financial planning review, you have a clear understanding of where you are going to be in the future. If there are changes you want to make to this plan, discuss them with your financial advisor and your nearest and dearest. What does that do? It increases your commitment. We really encourage people to sign an agreement with themselves to fully commit and work towards their goals. A signature increases your commitment tenfold.

Prioritise One Goal

When you have your plan drawn up and you have an idea of what you want to achieve in your lifetime, prioritise one goal of your goals. When we target one goal, we generally will have a far better chance at achieving it.

Start Today

Start achieving your goal today. When you start the process, you begin to build momentum. Even if it is just a small start, having that small start executed quickly gives you the satisfaction of moving toward your goals and desired result. We want you to start having a sense of achievement as you work toward your goals and the lifestyle you want.

Mind Yourself

Our final tip is to mind yourself. What do we mean by that? Financial planning is absolutely core to our sense of well-being. If you are financially secure, it makes it much easier to be generally secure in other aspects of your life. Therefore, we advise you to be careful and take your time. Spending is quick, earning or saving is slow. When you are making spending decisions – think about it twice. Ask yourself is it important to you and does it help you achieve your financial goals. That’s why we encourage you to be mindful of your spending habits.

Taking the first step is often the most difficult part of the process. Unsure where to start? Fill out our free financial planning report today and let’s get your finances in tip top shape by the end of 2022.

What Does the Financial Planning Review Cover?

We review all your pensions and calculate what your retirement income will look like. Based on that analysis, we can recommend a course of action so you can maximise your benefits. Very few employees we talk to have entered full-time employment from day one and stayed with the same employer for their whole working life. Employees call us worried about old pensions, career breaks, job sharing, working abroad, etc. Things are never straightforward until we produce your free report. This is a fantastic no obligation review of your financial wellbeing.

We find that often employees do not fully understand all the fields on their payslip. This can lead to problems, such as not being on the right salary scale point for public sector employees, or not using all your tax breaks correctly.

Whether you need to protect you family’s future, mortgage or plan for inheritance taxes, it is key to have the right insurance policy for your needs. Furthermore, as part of the report, we will search the market for the best prices out there.

If you have more than 3-6 months pay in your bank account (your emergency fund), you are faced with questions how to use your money wisely. Should you increase your pension contributions, open a savings account for your children’s education, invest in bonds, etc.? The MadeSimple report makes these questions much easier to answer taking into account your tax position and financial objectives.

Step 1

You – Complete a short online application form

Step 2

We – Generate your personal report that outlines your current benefits.

Step 3

Together – We schedule a review online (we use Zoom, or a platform you may suggest) or over the phone to discuss what options are available to you.

Start Now! Book Your Review

After we complete the review, many employees are delighted to have their options regarding pension planning, salary protection, life protection, savings and investments explained to them so clearly. Not only that, but we can also set up policies for you all online in a very fast and efficient manner. 

Get your complimentary, personalised review today! You have nothing to lose!

Niamh Fitzpatrick
Niamh FitzpatrickFinancial Advisor, MadeSimple