Personal financial protection and Budget 2013

December 4, 2012

As is largely expected from Budget 2013 to be released tomorrow, Wednesday 5th December 2012, people can expect to have less money to spend on whatever they usually spend their money on – mortgage or loan repayments, holidays, food, insurances, children’s school fees, savings or even luxuries.  This normally causes people to just get fed up and results in many people enduring genuine financial hardship… More money going out than there is coming in.  Never mind luxuries, many people end up not being able to even meet their basic living requirements.   When this starts to happen in a household, people normally sit down and try to figure out a way to survive as comfortably as they can until such a time as things turn around and become easier for them.  This can happen when the amount you have to pay out reduces and the amount of money you have coming in increases.  There are 2 things I would like to comment on with this.

1. When reducing the amount of money you need to spend every month, do you include a review of the cost of your insurances? You might be surprised by how much you can save doing this.  A life assurance review can be very quick, easy and rewarding.

2. If a household struggles financially on a reduced wage from pay cuts or higher tax deductions etc., how would they fare with no income at all if the main income earner suffers an accident or illness that stops them from earning?  No income bracket or occupation is exempt from this.

 

If you were to make one useful New Year’s resolution for January 2013, I suggest a brief and free phone call to discuss your financial protection – The aim being to ensure you have the right cover to suit your needs and try to pay as little as possible for it.  We can do this for you – very simply.  Just call 1890 254 000.