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ACHIEVING FINANCIAL WELLBEING IN 2024
Jonathan Knee DipPFS is a Bath-based Financial Consultant . He works with clients across the South West and beyond , providing holistic financial advice and wealth management services , encompassing investment , retirement , estate and tax planning , and cash flow modelling .
He ’ s focussed on building positive and longterm client relationships with business owners , families and individuals , helping them to achieve their goals and financial peace of mind . As we embark on another new year , Jonathan shares his top tips for keeping on top of our finances .
What can we all do to keep our finances in check as we move into a new year ? Planning is so important , perhaps even more so in the current climate ( inflation , global events , living longer to name just a few ). Having a flexible and well thought out ‘ Plan A ’ with regular communication and face-to-face reviews will provide a much better opportunity to achieve objectives .
Do you have any top tips for managing your money ? Don ’ t overstretch financially , live within your means . Try not to make impulse buys - it ’ s much better for our wallets and the planet , and check the prices you are paying for goods or services . I always use the switching and comparison websites before committing to a particular utility , broadband or mobile provider . Price checking isn ’ t only for those items though , last year I saved a small fortune when choosing my car !
With interest rates rising , it ’ s currently a savers market . Do you think this will continue throughout 2024 ? I don ’ t make predictions or provide any guarantees , I am always asked though ! I remain focused on the longer-term goals of my clients , short term spikes in interest rates and inflation have happened in the past and they are sure to happen again in the future .
“ using your ISA allowance is always a good idea if you can afford to ”
Are there savings products which are particularly popular now ? Cash ISAs are obviously very popular at the higher interest rates , using your ISA allowance is always a good idea if you can afford to . Your ISA is easily transferable in the future ( Cash ISA to Stocks & Shares ISA and vice versa ) should you want it to form a part of your longer-term investment planning .
“ If you don ’ t know about the different tax rules and allowances , then you won ’ t miss them although you could miss out ”
How can employers support employees with their financial wellbeing ? You can find lots of information from several sources , Financial Advisers like me often visit corporate premises to allow employees an opportunity for a free chat with a qualified adviser . Banks and other businesses should also provide help and assistance if asked , I did a quick search online just now and found this new page on the NHS website : www . england . nhs . uk / supporting-our-nhs-people / supportnow / financial-support /
What ’ s the best way for a business owner to save ? Finding time to allow for a review of their circumstances . It sounds obvious , but business owners are notoriously busy . If you don ’ t know about the different tax rules and allowances , then you won ’ t miss them although you could miss out .
What are you personally looking forward to in 2024 ? I ’ m working on an exciting new project which will launch in the New Year , I ’ ll be sure to let The Business Exchange community know all about it when I can !
Outside of work Jonathan is a Business Mentor for SETsquared Partnership at the University of Bath and a Member of the Royal United Hospitals Bath NHS Foundation Trust .
Jonathan is a top rated VouchedFor adviser . VouchedFor is known as a platform to search for the UK ’ s most trusted advisers . Each year it continues to vet , review and monitor financial advisers , providing peace of mind for those seeking advice .
To get in touch with Jonathan email : Jonathan . knee @ sjpp . co . uk or call 07811 169 286 and check out Jonathan ’ s LinkTree : www . linktr . ee / jonathanknee
THE BUSINESS EXCHANGE 2023 19