Aspen Financial ServicesDreading the credit card bill? Don’t even want to see your bank statement? New Year resolutions resigned to fantasy? Well, take a look at this New Year Financial Detox Programme, put together by Michael Bower from Aspen Financial Services. These easy-to-follow steps are actually easy to follow! If you’d like to discuss a financial review for your family, then just give him a call on 020 8943 8121.


Step One: Let’s SAVE some money

Most people are insured, we know we should have it, we probably begrudge paying for it, but we know we need it. Insurance is a competitive market place, but low price, doesn’t always mean best policy for you. Did you know that if you promised yourself that you would go to the gym, even it’s to have a coffee morning, some providers will give you 50% discount on your membership. How about money off your trainers, bicycle, Fitbit, shopping and cash back each time you go to the gym?

To complete Step One: Let’s review your life assurance, could become cheaper or more useful


Step Two: Let’s MAKE money go further

If you do what most of the population do for Christmas, Easter, Summer Holidays, etc and panic-save about two months beforehand, changing the cycle is simpler than you think. Interest rates (currently NOT interesting at all) are low and even if they do rise, will still be painfully low. Assuming you have a mortgage, how about reducing the interest using your bank balance and savings? This is not new, but it is an incredibly easy way to REDUCE your mortgage term and PUT MORE MONEY in your pocket in future. Normally, to reduce mortgage costs you need to repay the mortgage. By offsetting, you keep access to your savings AND reduce interest costs.

To complete Step Two: Let’s review your mortgage and savings rates


Step Three: Let’s PROTECT your money

The main culprits to protect against are death, divorce, inflation and poor planning. We can’t necessarily control all of these, but we can put some protection in.

Wills – a simple, effective and robust way to make sure your loved ones left behind do not lose out to the taxman, ex-spouses, distant family members, etc. Unfortunately, over HALF the population leave their estate to fate, rather than their chosen beneficiaries.

Planning – a simple, open discussion to determine your financial objectives takes 45 minutes (about the same as an online supermarket order). Knowing what to do, where to put it and why helps you Prepare and Prevent, rather than Repair and Repent.

Inflation – the rising cost of shopping, fuel, home ownership, etc has a detrimental effect on your savings. Average interest rates from your bank of 2% (before tax), mean that you are unlikely to buy the same things next year. Making your money grow is fundamental to planning for the future. If you cannot buy the same goods each year, your lifestyle will diminish.

To complete Step Three: Let’s see how much you save and where it is saved


Aspen Financial Services Michael BowerIf you want to discuss how we can help you complete the three steps above, just contact us for a review meeting – your only commitment is around 30/45 minutes. There is no initial meeting charge, no commitment, and no obligation. Our office is in Hampton Wick, with free parking and a decent cup of tea! You can call us on 020 8943 8121, email, or visit our website at We can also be found on Twitter @aspenifa.”

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