Com­mit to your cash to have happy end­ing

Kentish Gazette Canterbury & District - East Kent Property - - MONEYLIVING -

Any good re­la­tion­ship should be based on hon­esty, and the one you have with your fi­nances is no ex­cep­tion.

Check­ing your bank bal­ance spo­rad­i­cally, through half-closed eyes, and only when you have to, will not lead to long-term hap­pi­ness.

Har­mo­nious co-ex­is­tence with your money can only hap­pen when you are re­ally hon­est with your­self about your cur­rent sit­u­a­tion.

Be­fore you en­ter in to any new re­la­tion­ship, it makes sense to deal with your bag­gage and in terms of fi­nance that means debt.

You might fall help­lessly in love, but it pays to stay ra­tio­nally in con­trol of your debts.

Debt in it­self isn’t a bad thing, but too much debt clearly is, so it is im­por­tant to keep it un­der con­trol.

Most debts will in­cur a higher in­ter­est rate than po­ten­tial sav­ings ac­counts so it is a false econ­omy to leave them out­stand­ing and will only di­min­ish the value of any sav­ings you do have.

Ro­man­tics don’t have to have their head in the clouds, they can be prac­ti­cal too, and what could be more prac­ti­cal than set­ting your­self a bud­get?

By re­view­ing your in­com­ings and out­go­ings, you will get a clear un­der­stand­ing of ar­eas where your money could be used more ef­fec­tively.

Hav­ing done this, it is now time for you and your fi­nances to set some clear re­la­tion­ship goals: where do you see our­selves in a

The fi­nal bill for the flood dam­age caused by this win­ter’s storms is likely to reach £1.3 bil­lion, ac­cord­ing to cal­cu­la­tions from the As­so­ci­a­tion of Bri­tish In­sur­ers (ABI).

The to­tal fig­ure is made up of flood­ing dam­age caused by storms Des­mond, Eva and Frank dur­ing De­cem­ber and over the new year to homes, busi­nesses and ve­hi­cles.

The ABI’s cal­cu­la­tions are based on de­tailed data col­lected from its mem­bers. year’s, five years’ or 10 years’ time.

Just what type of a com­mit­ment are you want­ing to make: is a large pur­chase on the cards, are you sav­ing for a sig­nif­i­cant event or do you want to be free from debt?

Once your goals have been set, it’s time to ex­plore how they can be achieved. What kind of sav­ings ac­count would suit you best?

For begin­ners, per­haps a reg­u­lar saver ac­count; for those not shy of com­mit­ment, a fixed term ac­count locks your sav­ings away for set amount of time and al­lows your sav­ings pile to grow; for those who fear com­mit­ment, con­sider an easy ac­cess ac­count which al­lows you to save but also to ac­cess funds should the need arise.

While Fe­bru­ary is all about ro­mance, March and April are all about ISAs – so spend time ex­plor­ing whether you and ISAs are com­pat­i­ble and which type you would be best suited to, a cash ISA or a stocks and shares ver­sion.

Choos­ing an ISA prod­uct is re­ally a ques­tion of risk.

Cash ISAs may suit the risk averse and for those will­ing to take a cal­cu­lated risk; stocks and shares ISAs could be a per­fect match.

The more you love your fi­nances, the more they’ll love you back.

For more de­tails call 0845 122 0022

Will Davies from Kent Re­liance

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