Page 38 - Real Rochdale Issue 16 Winter 2022

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Keeping financial control during the cost-of-living crisis

There’s a misconception that financial advice is only
useful when you receive an inheritance, a windfall or
have a lot of extra money.

Staying on track with your financial goals is more
difficult with the high cost of living, but there are
strategies to help.

This year has been a difficult one, financially speaking,
for households in a range of income brackets and
investment markets have been choppy, which has
been an additional source of stress for those planning
their financial future.

You may think that we can’t do anything to help, but ABOUT THE WRITER
it’s during the hard times that the value of financial As director of Front Row Financial, Steven
advice really shines through. Worrall provides a truly holistic approach
that demystifies financial advice and puts you
in control, with tailored solutions and ongoing
Here, we explain the ways that seeking advice can help support to help you achieve your financial and
you not just to survive, but thrive during economic lifestyle goals.
storms.

What does a financial adviser do? Why financial planning is important

The purpose of financial planning is to help you
manage your income and assets in the best way, You’ve probably already put in place structures
aiming to achieve your life goals. and routines to help you reach your goals. These
may include budgeting, savings goals, monthly
You may think that it’s only worth talking to us if you contributions to pensions or investments, and
have a specific goal in mind, such as early retirement, insurance or income-protection policies.
or after a big financial event such as divorce or
receiving an inheritance, when you have a large sum of The challenge in the current environment is that some
money to manage. of these best-laid plans fall apart.

Although that’s part of our role – and these are all key We spend every day creating specific, actionable plans
moments when good advice is important – in reality, to help people reach their aims, based on realistic
we can help you tackle a whole range of money- calculations of how much they’ll need. We can tweak
related issues. The ultimate goal is for you to reach a and fine-tune these so that people who may feel they
place of financial wellbeing, which can include: cannot afford to save for retirement, for example, or
keep up their financial commitments, are able to do so.
• Making the most of your money on a
day-to-day basis Whatever the situation, rest assured that there will be
• Being financially capable of dealing with the a financial solution – and a financial adviser can make
unexpected sure you find it.
• Feeling confident, empowered and
knowledgeable The value of an investment with St. James’s Place
• Making smart use of debt, investments, insurance will be directly linked to the performance of the
policies, tax reliefs and financial products to help funds you select and the value can therefore go
you on your journey down as well as up. You may get back less than you
invested.

39 REAL ROCHDALE - WINTER 2022