3 Tips to Achieve a Stronger Financial Future
Most of us thrive on structure, routine and freedom of activity. As we navigate through lockdown, more than anything, we want things to go back to normal.
But what if we decide to shift our perspective and use this time to focus on creating a stronger financial future for ourselves and our families. We believe financial wellness is about having peace of mind that you will have money when you need it most. This may be now or in the future.
In a world that seems so out of control taking control of the day to day finances is key in making sure you are prepared for whatever curveballs life throws at you and giving yourself peace of mind that your financial future is secure.
We have already witnessed the colossal impact of Covid-19 and how quickly the world can change. For many of us we are already experiencing the detrimental impact of this event on our finances. It is our opinion that up to 10% of business won’t survive or reopen after this pandemic is over. This means there will be thousands of people who will have to find alternative employment and seek assistance from social welfare.
In this article our qualified financial advisors share their top tips to take control of your finances and save money on your life insurance and mortgage protection.
Tip 1: Switch Providers
Big savings can be made when you switch providers.
Customers are all too often unaware that they do not need to have their financial protection with their loan provider. Switching providers for your mortgage protection and life assurance policies can help you make big savings and we will make that switch easy.
Tip 2: Review your Insurance Cover
Customers have shown us how they have been over sold financial products by their loan providers and the costs exceed their requirements and affordability. Following your financial review with us we can make changes that meet the requirements of your loan provider and fulfill any additional personal financial protection within your budget.
In cases where customers have been over insured or over paid for the type of cover they have the amount of savings can be very substantial. Saving just €10 per month can mean a saving of €3,000 over a 25 year term.
This can free up money to pay down debt, boost savings or increase an emergency fund.
Tip 3: Review your financial situation once per year
A good financial review looks at your today – your desired tomorrow – and shows you how to get there. The munstergroup review process will help identify any gaps in your financial requirements, such as pension, income protection or savings needs and accommodate changing goals, changing personal circumstances, and changing financial opportunities.
Our qualified financial advisors want to help you, especially during this pandemic.
Our qualified Financial Advisors want to help you reach your financial goals. We provide a free in-house financial health check or free call-out service if you prefer.
Our qualified Financial Advisors work flexible hours to suit your schedule and can advise face to face, over the phone, by email or video call.