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For numerous individuals 2009 was a year of hardship. A worldwide depression, stock Exchange set backs plus a general belief of uneasiness have left lots of people feeling quite doubtful about the future.

Hopefully 2010 will be a greater year. Yet there are measures we can put into place to help our financial wellbeing.

1 thing we can do to get the situation into perspective is to review our financial situation. Whether it is your mortgage, loans, investments, income or purchasing patterns need to be surveyed regularly.
Taking out a review will help you to identify where your finances can be bettered and where you might make alterations.

It is vital to review your investments & savings, to verify they are acceptable to the amount of risk you are happy to accept. It is also worth looking at your store cards, electricity and gas as well as insurances to see if you could get a better deal. Even a small improvement could make a massive difference to your regular budget.

Making the most of your annual tax allowances such as Isa’s, capital gains tax allowances and pension planning are also ways of cutting the level of taxation you might pay.
Whilst income and capital gains tax are significant, the result of inheritance tax should likewise be thought about.

Many have assets in excess of the value of the IHT Nil Rate band. Efficient tax planning can be used to cut the amount of IHT their beneficiaries might have to pay.

For lots of people, the functions supplied by Financial Advisers assist them to review and put into place amendments to their finances and savings.

If you believe that you would benefit from independent and impartial financial advice please call us on 01454 321511.

Consilium Asset Management