Have you made your Financial New Year’s Resolutions?

In January 6, 2017
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The New Year arrives with a host of good intentions: taking more exercise, quitting smoking, eating more vegetables, doing some voluntary work. But, perhaps one of the best resolutions you could set yourself is to sort out your finances. So here are some financial resolutions we could all think about in 2017.

1: Review any Debts
You should find out how much interest you’re paying on any debts you have. If you’re paying high interest rates, for example on credit cards, then transfer your credit cards onto 0% interest deals elsewhere. Work out a plan to pay off your debts, starting with those where you are paying the highest rates of interest – and then make sure you stick to it.

2: Emergency Fund
Everybody needs to have some cash savings. This will ensure that you have money available to cater for any short term emergencies or requirements. Review your existing cash savings to ensure that the interest rate you’re earning is competitive. Comparison sites like Money Supermarket are very helpful. http://www.moneysupermarket.com/money/

3: Pay off your Mortgage
With interest rates at historic lows, this is a great opportunity for many people to reduce the amount they owe on their mortgage. Review your existing mortgage deal to make sure it is competitive and then work out if you can afford to make overpayments, either regular or single payments, to reduce your mortgage debt. If you do this now it could potentially save you thousands of pounds in interest charges over the long term. If you need your mortgage rates reviewed, just contact us and we can put you in touch with our Mortgage Specialists.

4: Review your Investments
Review your existing investments to make sure they are performing as you expect. To ensure that you don’t end up taking too much, or too little risk, you should look to review your investment portfolio every 6 or 12 months. If we already look after your investments, the good news is that we review things every quarter and then with you annually at our Annual Investment Seminar. But if you have any investments, not managed by us, and then by reviewing them yourself or asking us to review them, to make sure they are performing in line with your attitude to risk and not costing you too much in charges is a very good idea.

5: Protecting your Family

Get a Will. If you do nothing else in 2017, making a Will has to be the one thing you do. It is estimated that over half of the UK population don’t have a Will. If you want to protect your loved ones and make sure that your money goes to the right people, at the right time, then making a Will is an absolute MUST do! If you don’t have a Will or you know someone who doesn’t have a Will, the first step is to get them to come along to one of our FREE Wills, Trusts & Estate Planning Seminars. You can find and share the details of our upcoming seminars here.
So that’s my top tips for having a financially prosperous 2017! Hopefully some of these ideas will make it to your own New Year’s resolution lists and I look forward to finding out whether you’ve stuck to them!



Your capital is at risk. Investments can fluctuate in value and investors may not get the amount back they invest. Past performance is not a guide to future performance. Tax rules can change at any time.

Please remember your home or property may be repossessed if you do not keep up repayments on your mortgage.  We give clients the option to pay for mortgage advice by fee rather than commission. Equity Release refers to lifetime mortgages. To understand the features and risks, ask for a personalised illustration.

The Financial Conduct Authority do not regulate, Will Writing, Buy to Let Mortgages, Auto Enrolment, Tax Advice and Estate Planning.

The opinions contained within this blog, do not constitute financial advice and no action should be taken based on this content alone.

Jasmine has been a qualified Financial Planner since 2008. She has also been a member of the Society of Will Writers since 2012. She is passionate about helping Clients build their wealth and achieve the financial lifestyle they desire. Her areas of expertise are that of Savings, Investments, Pensions and Retirement Planning.

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The Financial Conduct Authority do not regulate, Will Writing, Buy to Let Mortgages, Auto-Enrolment, Tax Advice and Estate Planning. Your capital is at risk. Investments can fluctuate in value and investors may not get the amount back they invest. The guidance and/or advice contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK. https://register.fca.org.uk/

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