Freshen up your finances…

Author: Neil Jankelowitz

One of the best parts of the end of year holidays is the chance to catch up on all those niggly little bits that slipped our mind during the year or that we simply didn’t have the time to get to.

That includes the important but frequently postponed personal admin. Often our finances land up being part of this admin, and we relegate annual reviews and much-needed amendments to ‘file 13’ to deal with later.

However, now is the perfect time to get stuck in, look back over the year that was and how it impacted you financially, and give your finances a good clean-up ahead of the new year.

At Octagon Financial, we take a simple, uncomplicated approach to wealth management. We do however overlay this with extensive research and analysis into the underlying fund managers we choose to work with.

We also keep our finger on the pulse of local and international market movements, with our local partner, Graviton, providing access to systems that facilitate in-depth insight into marketplace changes, which is of great benefit to our clients.

Internationally, our team that works out of Ely Street in London has been operating in the offshore space for a number of decades. In this very complex world, we are able to simplify matters through the many years’ experience our offshore partners hold.
What this ultimately means for our clients is that we are able to take something that has over the years become increasingly complicated and simplify it, so our clients understand exactly what we do day in and day out.

What does all this have to do with cleaning up your finances? Quite simply, that we can advise you on a few simple steps to take right now to maximise the efficiency of your portfolio.

It’s a good idea to meet with your financial advisor to ensure your financial clean-up is as efficient as possible.

  • Here are a few areas to consider:
  • Revamp your emergency fund: having two to three months’ worth of savings is highly recommended
  • Revisit credit cards: make sure there are no surprises with expiring cards, and try clear credit card debt where you can, as these interest rates are extremely high.
  • Banking: check your monthly banking fees and try renegotiate these if possible.
  • Estate planning: make sure your will is up to date; this is one of the most important documents you have.
  • Insurance: get new quotes on your short-term insurance.

With your finances now sparkling clean, you can finish up the year safe in the knowledge that you’re all set for 2017 and whatever it may bring.

Volatility – Steven Crouse
Disability – Chaim Chalpid