Q It’s my 50th birthday soon and I’ve been working hard in various jobs for almost 35 years. I want to be in a position to retire by the time I’m 60. How can I make sure that can happen? A This answer is a long one. I’ll send you a list of the information
Income protection – why you should consider taking it out Q I am lucky to have a good job and get paid reasonably well, but I don’t get paid when I’m off sick. I constantly worry about being unable to pay my rent if I’m out of work for a prolonged period due to
How To Be Prepared For A Financial Emergency And Unexpected Bills Q: How should I prepare for a financial emergency? A: If you don’t have enough savings to fall back on, you should take action now to protect yourself from an unexpected bill. A third of us are living on the financial edge, with no
What is life insurance? I’ve been told that I need life insurance but as I don’t have any children do I really need it? Life insurance is a simple product designed to provide a lump sum or monthly income payment on death. It is designed to provide your dependents with financial security on your
New Year’s Resolutions – how to give your finances a thorough health check this January It’s still January but I wonder how many of us made and stuck to our New Year’s resolutions. Instead of committing yourself to some elaborate resolution, which may be all but impossible to keep, why not think about taking
How to get your finances in order – top 10 tips to help you get you started This is a short question but not a short answer. Also, there may be a different answer for each individual. We do need to make and complete a plan. Ultimately, financial planning is about tailoring a solution to
Q. My child is starting college in a few years and I am worried about the costs. How much do I need and what are my options? College costs are rising, so you should consider starting to save now. The cost of putting a child through college is increasing. If you have young children,
Teaching your children about money will help them pick up good habits for the future. We have pulled together some helpful steps so you can show your children how to make smart money decisions:
Step 1- Keep it fun
A great way to help children get started is to have three jars with the following labels:
Goals that don’t cost a penny
I’m going to look at three easily achievable goals that won’t cost you a penny, yet they’ll help to enrich you, or at least de-debt you, which is just as good.
1. Tell the truth
Do you sit at home feeling silently guilty about your purchases or about debts? There’s no need.
This feeling is not coming from anyone else; it’s coming from inside you. It’s important to distinguish between guilt and shame. Guilt is internal, shame is external. You feel shame when you’re caught shoplifting. Guilt is when you go shopping and feel bad about it, even though those around you don’t take any notice.
Teaching your children about money will help them pick up good habits for the future. We have pulled together some helpful steps so you can show your children how to make smart money decisions:
Step 1- Keep it fun
A great way to help children get started is to have three jars with the following labels:
● Spending – for buying something now.
● Savings – for a saving goal – such as a toy, book or sports jersey. Explain why it is important to save. Help them work out the cost of the item they are saving for and how long it would take to save for it, based on how much pocket money they get.
● Future – this is money that is put away and can’t be touched until an agreed time in the future, such as summer holidays. Teaching your child to put a little away for a rainy day is a good way for them to be prepared for what might happen in the future.
Every time your child receives money they can decide how much they would like to put into each jar. Over time your child will begin to understand how to manage money and will be ready for the next step, opening their own savings account.