Saving your money made easy
A hard task for many of us, albeit not always because of its complexity, however, human nature makes it one of the areas we put off. We can help you make this part of your monthly routine by using our Client Website to keep track of how much money you are bringing in each month, how much you're spending versus your assets and liabilities.
Look after the pennies and the pounds take care of themselves, isn’t that what they say? The truth is ALL of your savings and investments need to work hard these days.
Having a goal and putting a personal finance plan into place is a good idea. But with so many savings and investments products to choose from, it’s sometimes tricky to know which ones the right one for you. That’s where our advisers come in.
For example, did you know there’s a difference between saving money and investing it? Saving money means putting it away in relative safety. Usually, you’ll get some interest on top and can access your money whenever you want it.
Making an investment means taking more risks with your cash in the hope that it’ll go up in value over a period of time faster than savings would. It’s important to know from the outset an investment’s value can go down as well as up. You might not get back the money you put in and, in most cases, if you’re investing your money, then you need to think about tying it up for a minimum of five years.
When planning your savings and investments, it’s important to consider what level of risk you would be happy with. Low risk investments often mean that there is a low chance of you losing your initial investment, however, the return is often quite low. High risk investments, as you may have guessed, are the opposite to this. There is a higher risk of losing your money but the payoff is the potential higher return. Your outlook on risk can be influenced by factors such as your age, your financial goals, other assets, your financial commitments and how much money you have. Your overall investment strategy could be made up of a number of separate investments at different levels of risk, with the overall outcome of spreading your risk whilst aiming for the growth or income you require. Effectively not putting all your eggs all in one basket.
You may be thinking about starting a savings or investment plan, or have a plan already in place. But just think wouldn’t it be good to save more money and avoid paying unnecessary tax? Or find out if the risks you’re taking with your investments have changed? How about getting an income from your cash, as well as see it grow in value? There’s a lot to think about. That’s why it’s a great idea to get savings and investment advice from our advisers
It’s hard to hit a target if you don’t have one in the first place!
Where do we come in? Our own experience suggests working from
formulated spreadsheets, making short term and long term goals helps keep you on track of your money, savings and investments. Our Client Website allows you to capture all of this information in one place and is accessible to you 24 hours a day.
If you require advice once you've input all of your information onto our client website, we will come up with a plan to help you reach your goals and/or get your finances back on track. If you wish, we can then monitor your progress, a bit like mentoring making suggestions on how you can turn things around or indeed grow your assets. We call this our Financial Improvement Service.
If you would like initial consultation please Call 0844 272 3701
Encore Financial Solutions is authorised and regulated by the Financial Services Authority (529581). Registered Address 1L, 17 Oakburn Gardens, Jamestown, Alexandria, G83 9NN