Even as the Christmas decorations are coming out of the box, shops are already busy with shoppers picking up the latest gadgets for their loved ones (or themselves!), along with the turkey being ordered and trimmings being sourced.

It’s easy to get swept up in the season and according to the debit card provider Switch, each Briton is planning to spend an average of £868 on Christmas this year!

They say that on average we will buy presents for 12 members of family or friends, at an estimated total of £345.65, with food and drink coming in at £178.57. Whilst these financial decisions are typically made on the spot, many of our financial objectives are not given enough thought.

Once the busyness of Christmas has abated, we can sometimes have a little more time to think about the future and we’ve borrowed a famous theme from Charles Dickens to outline our financial planning strategies.

The ghost of Financial Planning past

We make many financial decisions on a daily basis, but many of our longer term decisions are either rushed or implemented and not reviewed. One of the most important factors of a successful financial plan is to ensure that a regular review is undertaken to review past decisions and plan successfully for future objectives and changing circumstances.

The ghost of Financial Planning present

Whether it’s planning for retirement, protecting your family or looking to reduce your liability to inheritance tax, there is no time like the present to start making plans. But don’t struggle alone. We are here to assist you with a view to forming a clear financial plan for your future.
The first step on the journey is to have some clear objectives which can include a timeframe, an income need or a capital requirement.

The ghost of Financial Planning yet to come

With an end goal and clear financial planning objectives in mind, it is only normal to feel confused about how to go about reaching the end goal you have in mind.

Some questions to ask yourself that might help focus your planning could be:

• How much do I need to put to one side to achieve my objectives?
• What level of risk do I need to take with my investment portfolio, to meet my needs?
• What insurance cover do we need if the plan is derailed by an illness or death?

Now is the time to take control of your finances and look forward to a more prosperous future.

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