There's a lot to worry about
- Gregory Deer
- 15 hours ago
- 2 min read
At the moment, it feels like the news wants your attention every 5 minutes.
The doom and gloom around the UK is particularly prevalent. A prime minister under pressure (again), slow economic growth, government borrowing increasing and the cost of a pint in London reportedly topping £10 in some establishments.
Sky News’s Ed Conway outlined this in gory detail1.
It’s easy to get caught up in it all and feel rather fed up.
How are you spending your resources?
And us Brits, are experts at worry and being pessimistic2.
Twenty years ago it was the financial crisis. Then Brexit. Then COVID. Then inflation. Then energy prices. Then mortgage rates. Then tariffs.
The headlines change when you check the BBC News app every 4th hour. The feeling doesn’t.
And yet, throughout all of that, people still built businesses. Bought homes. Invested money. Retired comfortably. Raised families.
Life carried on.
We have three vital resources in life: time, energy and money.
One of the biggest mistakes is spending too much of those resources on things you cannot control.
What to focus on
I often speak to prospects and clients who are worried about the economy.
At the same time, there will be things they can do to improve their financial situation.
Most people can’t influence inflation. There are things you can do though:
1. Knowing where your money is going each month
2. Holding the right level of cash for your situation
3. Insurance to support your family for death and ill health
4. A plan for retirement
Areas where spending your time and energy does matter.
Why does it matter?
Knowing your finances are organised makes you feel calmer about what’s going on in the world.
You’re less worried about losing your job if you have cash savings and know what you spend each month.
You’re less worried about ill health if you have insurance.
You’re less worried about your investment returns if you have a plan for retirement.
Worrying less is about financial planning.
Cold hard truth
Financial planning is actually quite boring.
It’s doing the same things repeatedly for a long period of time.
But the rewards?
Spending more time, energy and money on the things you love and enjoy.
The world will always give you reasons to worry.
Financial planning doesn’t remove uncertainty, but it does help you feel calmer inside it.
And honestly, in today’s world, that’s probably worth quite a lot.
Want someone on your side to help with your financial planning and enable you to spend more on what you love? Book an initial call using the link below.
Risk warnings
Investments do not give the same capital security as cash deposits. Investments carry risks. The value of your investment (and any income from them) can go down as well as up and you may not get back the full amount you invested. Tax rates may change in the future.
If you do not keep up payments on your mortgage, your home could be repossessed.
The above article is not financial advice. If you need financial advice, please see an independent financial adviser (like us!).
