Reassessing your Finances to achieve your Future Plans
With summer here and many of us taking a break from the usual working week to relax and enjoy some downtime, now is a great opportunity to review your finances in relation to your future plans. Whether you are looking into moving home, making some home improvements or renovations to your property, now is the time to take control and put your objectives in place ready for the autumn months.
There are many options available to you and the team at Cotswold Financial Planning are here to offer advice to you in relation to restructuring your finances to achieve your financial objectives.
We all know that it is costly to move home, so it is important to know exactly what payments you are likely to have to pay out, so that there are no nasty surprises along the way. If you know what to expect you will be able to prepare your budget accordingly.
You will need to account for
- your deposit
- stamp duty
- valuation fee
- surveyors’ fees
- legal fees
- estate agents fee
- removal costs
We can go through these fees and processes with you, so that you have a full understanding and breakdown of all of the payments that you are likely to face during your moving process.
If you are looking at renovating your property or making some home improvements, it is a great idea to view this as an investment, as ideally you will be adding value to your property. There are different options to consider when looking at how to fund the cost of home improvements, which we can go through with you.
We can explore these options with you in detail to see which would be the best for your circumstances.
Looking at your outgoings and debts can help you to make plans for the future, putting you in a better financial position. Creating a budget based on what you spend each month will give you an understanding of where your money is going; groceries, bills, leisure...you will be able to compare your budget with your actual spend and see the difference in this amount. From this you can determine the areas that you could cut back on your spending, with the intention of saving each month for a holiday, home renovation or any other future plans you may have.
We can assist you with this.
Financing Family Plans
Children can be expensive and it doesn’t stop when they reach the teenage years. Educational trips, College/University fees, driving lessons, cars, they all cost money and can often add extra pressure on a family’s financial situation. We can help you re-evaluate your budget to take into consideration these extra payments and help you to organise your finances to accommodate these extra needs.
If you would like any advice on any of these areas, call us on 01608 651608 or contact us via our enquiry form and one of the team will be happy to discuss your concerns and requirements.