Financial planning week
Financial planning is a process which can help individuals and families make decisions about money in order to achieve their life goals. Not everyone has access to, or can afford financial planning, so Financial Planning Week was set up to encourage the UK financial planning community to offer guidance for people (free of charge) and highlight the life-changing value of financial planning.
Financial Planning Week is taking place from 7th – 11th October 2019 and aims to help consumers build financial confidence, combat anxiety and stress about money and deal with life’s challenges around day-to-day financial decisions*.
However, everyone’s financial needs are different, and people enter different financial stages in their life at different points to others. That’s why, one financial plan does not work for all. But why is financial planning so important and how can your employees benefit from it:
Financial planning will provide your employees with a level of financial understanding to help them make better financial decisions, ensure they are financially prepared and help them to identify and reach their life goals.
Income & cash flow
Employees who can plan their income and cashflow are more likely to be able to manage their money and have better spending habits.
Having a plan
Although this one sounds obvious it’s important to remember that not everyone has a plan or has thought about their financial goals. Financial planning can help employees realise what they have, need, want and can achieve.
Financial planning can help to create a plan to save, and a process to achieve a savings goals. This could be short, medium, or long-term savings, but when life throws both expected and unexpected expensive moments at your employees, they could be better financially prepared.
Having a financial plan which aligns your spending, savings, budget and goals can provide a huge security blanket for your employees. This can significantly reduce the financial stress and anxiety resulting in better all-round wellbeing.
We work with a number of employers to offer pensions specific guidance and advice to their employees, as well as broader financial advice and education. Found out more here.
Information correct as at 7th October 2019.
Secondsight is a trading name of Foster Denovo Limited, which is authorised and regulated by the Financial Conduct Authority.