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How secure are your finances? 4 signs you need support

How secure are your finances? 4 signs you need support

Even if you think you’re on top of things, independent financial advice can benefit you in the long run

For many people, overthinking about the state of your finances can cause headaches and anxiety, but burying your head in the sand is never the answer. Even if you think you’re on track

with your wealth management, there is always room for some independent and objective financial advice.

There are plenty of warning signs that may suggest you need support with your finances, even if you aren’t aware of them. We’ve outlined some of the leading examples below, so take a look and see how many of them apply to you.

You keep putting off taking action, even though you know you need to

Analysis paralysis is a very real issue where financial management is concerned. This involves being unable to move forward with financial decisions like investing, paying off loans or organising insurance, and consequentially becoming stuck in a financial rut.

The prospect of having to take a lot of action causes us to take no action at all, preferring to ignore our financial responsibilities entirely. In the long run, however, this is only going to make the issues seem even larger. Getting independent financial advice can help you break down the hurdles you face into manageable stepping stones.

You aren’t sure why you owe back taxes

Debts and back taxes can build up over time, and many of us aren’t aware of where all our outgoings are actually, well, going. These back taxes can put a dent in your monthly earnings and stop you from progressing with your financial goals.

As well as helping you plan for the future, independent financial advice can also help you make sense of your financial past, dealing with underlying issues that may be causing you to spend money without realising.

Retirement is still a mystery

In an ideal world, retirement would come at a reasonable age and see us all living comfortably. However, with recent reports revealing that as many as a quarter of workers haven’t checked their pensions, what kind of retirement awaits us is still a mystery to many.

Retirement is a long term goal, which means it requires long term planning. A well-constructed retirement plan can help you avoid the uncertainties and anxieties that can plague subjects like pensions, and independent financial advice is a great first step to creating just such a plan.

You and your spouse or partner aren’t on the same page

Saving together is often better than saving alone, but it also comes with its own unique set of issues. If you and your partner aren’t on the same page financially, it can make it difficult to get a clear picture of your money and practice effective wealth management.

In this situation, a financial adviser can act as a mediator, speaking to both of you openly with no ulterior motive. This provides you with that all-important clarity, ensuring that you and your significant other share the same values and goals when it comes to your finances. As a consequence, you become better at working effectively as a team.

Seeking out expert impartial financial advice can help you make the most of your savings, standing you in good stead for your future and providing you with peace of mind.

Get in touch with the team at Carrick Financial Management today. Our financial planning services will help you get to grips with your finances and make smart investments in your future. Reach out today by calling 07802 758658.
The first meeting is at our expense.