Five financial tasks to tackle right now

Extra time at home can be used to tick some things off your financial to-do list.

We are all spending more time at home now, and many have taken the opportunity to carry out home improvement projects and spring cleaning. It’s also the ideal time to look into your finances.

This could be a perfect opportunity to tackle some of those financial tasks which have been put off in the past. Checking these 5 financial tasks off your to-do list is a great way to spring-clean your finances.

  1. Look into protection 
    Recent events have highlighted that it is wise to be prepared for the unexpected. Protection products serve various purposes, from providing a regular income if you are ill or injured to taking care of your loved ones should the unthinkable occur. If you do not have appropriate protection in place, think about the type of cover you may need and consider looking into your options now.

    Everyone’s circumstances are different, but a financial adviser can help you understand what is necessary and appropriate for you.
  2. Revisit your financial goals
    Your financial goals may have been impacted by recent events. Now more than ever may be the ideal time for you to revisit your financial goals and see whether they are still on track, whether that be preparing for early retirement or planning to pass on your wealth to the next generation.
    If you need help looking at your whole financial picture to see what makes sense for your situation, consider setting up a meeting with a financial adviser. It is a good idea to have someone who can view your financial situation from an independent perspective and offer up ideas you may not have considered.
  3. Review your pensions arrangements
    If your retirement savings are broadly on track, you can still take steps to make sure your pension pot is able to achieve the income you want when you retire. One of the most helpful gifts the government gives to savers who are preparing for their retirement is tax relief on their pension savings. This has a big impact on the amount you can save. If you’re a higher rate taxpayer, the government adds your basic rate tax (20%) back into any pension contributions you make and allows you to claim back the other 20% of tax you have paid through your self-assessment tax form.
  4. Make a will
    The COVID-19 pandemic has made more people think about just how crucial it is to make a will. Since the COVID-19 breakout, the number of people seeking to write new wills has risen by over 30%, according to The Law Society.1

    It is estimated that more than half of British adults have not made a will, even though it is an essential part of financial planning. It is also a good idea to update all your transfer on death, payable on death and beneficiary forms sooner rather than later, to ensure any insurance policies or financial accounts go to the people you intended.
  5. Seek professional advice
    During times like this, the skills and experience of a financial adviser come into their own. Not only do our independent financial advisers have the experience of dealing with different types of market conditions, but they can also help to take the emotion out of your decisions.

If you do need to talk to us, you don’t need to wait. We have embraced developments in technology to enable remote working. You can arrange a virtual face-to-face appointment from the comfort of your home.

To find out how financial advice could benefit your financial future, speak to one of ourindependent financial advisers. A first meeting is free and there is no obligation to continue.


This article is for generic informational purposes only and is not suggesting a suitable investment strategy for you. You should seek financial advice that takes your individual circumstances into account before proceeding with any course of action.