Northants, Leics &amp; Rutland


<figure class="wp-block-image size-full"><img decoding="async" loading="lazy" width="1000" height="830" src="https://dev.muddystilettos.co.uk/northantsleicsrutland/wp-content/uploads/sites/26/2025/01/PSA-Financial-001.jpg" alt="PSA Financial Services Leicester Womab at laptop spreadsheet" class="wp-image-54896" srcset="https://dev.muddystilettos.co.uk/northantsleicsrutland/wp-content/uploads/sites/26/2025/01/PSA-Financial-001.jpg 1000w, https://dev.muddystilettos.co.uk/northantsleicsrutland/wp-content/uploads/sites/26/2025/01/PSA-Financial-001-300x249.jpg 300w, https://dev.muddystilettos.co.uk/northantsleicsrutland/wp-content/uploads/sites/26/2025/01/PSA-Financial-001-768x637.jpg 768w" sizes="(max-width: 1000px) 100vw, 1000px" /></figure>



<p>Fancy splurging on a luxury holiday, new kitchen or the perfect pair of Louboutins? Luxury lifestyles don&#8217;t come cheap &#8211; or any lifestyle for that matter &#8211; and there&#8217;s little worse than stressing about where the money&#8217;s going to come from. As the year gets into its stride, many of us will be thinking about our financial status and goals for the future and, while these will be different for everyone, the basic framework for making your money work for you is often fairly universal. We caught up with the pro team at <a href="https://www.psafinancial.co.uk/" target="_blank" rel="noreferrer noopener">PSA Financial</a> for their top tips to give your financial wellbeing a boost. </p>



<h2 class="wp-block-heading" id="h-1-assess-your-current-financial-situation">1. Assess your current financial situation</h2>



<ul>
<li>You can&#8217;t ever get your finances in order if you don&#8217;t have a clear idea of where things stand so, first up, you need to do a budget review. This will involve tracking your income, expenses, and savings to understand your cash flow. Who doesn&#8217;t love a spreadsheet? </li>
</ul>



<ul>
<li>Next, if you&#8217;re going to boost your financial wellbeing, you&#8217;ll need to get to grips with any debt: list all debt, including interest rates and repayment terms, to create a strategy to pay them off.</li>
</ul>



<ul>
<li>Then, calculate any assets you might have, such as savings, property and investments, minus liabilities, to understand your clear starting point.</li>
</ul>



<h2 class="wp-block-heading" id="h-2-define-your-goals-clearly">2. Define your goals clearly</h2>



<ul>
<li>Be specific: instead of setting generalised goals like “save money”, aim for more specific things such as “save £5,000 for a house deposit in December 2025”, that way you have a clear idea of what to aim for. </li>
</ul>



<ul>
<li>Breakdown your goals by categorising them into short-term and long-term.</li>
</ul>



<h2 class="wp-block-heading" id="h-3-use-the-smart-framework">3. Use the SMART framework</h2>



<p>This framework allows you to write goals that are clear, attainable and meaningful, bringing clarity to your goal-setting and providing the motivation and focus you need to be successful and boost your financial wellbeing. Never heard of the SMART framework? Read on:</p>



<p><strong>Specific</strong>: set yourself clear, well-defined goals.</p>



<p><strong>Measurable</strong>: track your progress. More on that spreadsheet, or try using an app, if that works for you. </p>



<p><strong>Achievable</strong>: base your goals on realistic expectations of your income and expenses. Sorry, but &#8220;become a billionaire by Christmas&#8221; might not cut it. </p>



<p><strong>Relevant</strong>: be sure your goals are aligned with your life priorities.</p>



<p><strong>Time-Bound</strong>: Set yourself deadlines to help you stay motivated.</p>



<figure class="wp-block-image size-full"><img decoding="async" loading="lazy" width="1000" height="667" src="https://dev.muddystilettos.co.uk/northantsleicsrutland/wp-content/uploads/sites/26/2025/01/Money-tree.jpg" alt="Pot of money" class="wp-image-54899" srcset="https://dev.muddystilettos.co.uk/northantsleicsrutland/wp-content/uploads/sites/26/2025/01/Money-tree.jpg 1000w, https://dev.muddystilettos.co.uk/northantsleicsrutland/wp-content/uploads/sites/26/2025/01/Money-tree-300x200.jpg 300w, https://dev.muddystilettos.co.uk/northantsleicsrutland/wp-content/uploads/sites/26/2025/01/Money-tree-768x512.jpg 768w" sizes="(max-width: 1000px) 100vw, 1000px" /></figure>



<h2 class="wp-block-heading" id="h-4-prioritise-emergency-savings">4. Prioritise emergency savings</h2>



<p>It&#8217;s never easy, but you should make sure you have some form of savings. Aim to save 3-6 months’ worth of living expenses in an easy-access savings account. This will protect you against unexpected costs like job loss or medical bills.</p>



<h2 class="wp-block-heading" id="h-5-account-for-inflation-and-interest-rates">5. Account for inflation and interest rates</h2>



<ul>
<li>Inflation impact: plan for the (ever) rising costs of goods and services.</li>
</ul>



<ul>
<li>Savings growth: use high-interest savings accounts or cash ISAs.</li>
</ul>



<h2 class="wp-block-heading" id="h-6-consider-investment-opportunities">6. Consider investment opportunities</h2>



<p>Diversify your portfolio and contribute to your pension. If your employer offers a workplace pension, maximise contributions to benefit from tax relief and employer matching.</p>



<figure class="wp-block-image size-full"><img decoding="async" loading="lazy" width="1000" height="668" src="https://dev.muddystilettos.co.uk/northantsleicsrutland/wp-content/uploads/sites/26/2025/01/laptop-savings.jpg" alt="Woman at laptop savings and investments" class="wp-image-54902" srcset="https://dev.muddystilettos.co.uk/northantsleicsrutland/wp-content/uploads/sites/26/2025/01/laptop-savings.jpg 1000w, https://dev.muddystilettos.co.uk/northantsleicsrutland/wp-content/uploads/sites/26/2025/01/laptop-savings-300x200.jpg 300w, https://dev.muddystilettos.co.uk/northantsleicsrutland/wp-content/uploads/sites/26/2025/01/laptop-savings-768x513.jpg 768w" sizes="(max-width: 1000px) 100vw, 1000px" /></figure>



<h2 class="wp-block-heading" id="h-7-reduce-debt-strategically">7. Reduce debt strategically</h2>



<ul>
<li>High-interest first: focus on paying off high-interest debts like credit cards.</li>
</ul>



<ul>
<li>Debt consolidation: if you have multiple loans, consider consolidating them into one with a lower interest rate.</li>
</ul>



<h2 class="wp-block-heading" id="h-8-plan-for-taxes">8. Plan for taxes</h2>



<p>Use tax-efficient accounts like ISAs or Pensions to save and keep track of allowances, such as Personal Saving Allowances and Capital Gains Tax exemptions.</p>



<h2 class="wp-block-heading" id="h-9-regularly-monitor-and-adjust">9. Regularly monitor and adjust.</h2>



<ul>
<li>Monthly check-ins: review your progress and make adjustments as needed.</li>
</ul>



<ul>
<li>Annual review: reassess your goals in response to changes in your financial situation or economic conditions.</li>
</ul>



<h2 class="wp-block-heading" id="h-10-seek-professional-advice">10. Seek professional advice</h2>



<p>If you have more complex goals and feel you&#8217;d benefit from some extra help, consult a financial adviser. </p>



<p><em><a href="https://www.psafinancial.co.uk/" target="_blank" rel="noreferrer noopener">PSA Financial Services Ltd</a>., PSA House, 3 Rose Way, Blaby, Leicester, LE8 4BY</em></p>



<p></p>


10 ways to boost your financial wellbeing this year

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