Without a doubt, looking back at 2020 Coronavirus will be the main talking point. How has this affected your finances and your outlook for the future?
Some of us will have been struggling on 80% of pay or less and finding things difficult if no emergency savings fund is in place. Others of us may have increased funds, becoming an accidental saver during lockdown; working from home on full pay but with reduced outgoings such as petrol, childcare, hair and beauty treatments etc. The Key Workers amongst us may have seen little changes to finances as work continues as normal however are more aware than most of their exposure to dangerous situations.
Whatever your situation, Coronavirus has made us all more aware of our own mortality and vulnerability and perhaps determined to be better prepared financially.
A few things to consider and worthy of review: In the event of your death, would your family be safe and secure? Would your mortgage, other debts and commitments be repaid? Have you made a Will to ensure your assets are distributed in accordance with your wishes? Should a serious illness strike, would you still be able to maintain your outgoings? Has someone been appointed to take care of your finances if you are unable to do so? On a more basic level, is the roof over your head and the contents within also protected adequately?
A lot of the above is ‘something we are going to do tomorrow’ but I suggest that tomorrow has now arrived! A free financial protection review would take care of all the above and give you peace of mind. Get in touch if this is something of interest.