In uncertain times, it’s tempting to delay financial decisions. But with inflation rising again, the UK facing its highest tax burden in decades, and more tax hikes expected in the Autumn Statement, doing nothing could end up costing you more than you think.
Here are five things worth checking, especially if you’ve never spoken to a financial adviser before:
1. Are you missing out on tax allowances?
From ISAs and pension contributions to dividend and capital gains allowances, many of these are use-it-or-lose-it. Missing out could mean paying more tax than you need to.
2. Is your cash working as hard as it could?
Money sitting in low-interest savings is losing value in real terms. Depending on your situation, investing may help your money keep pace with inflation and grow.
3. Could you be paying less on your mortgage?
With rates changing regularly, reviewing your deal when it ends (ideally six months before it ends) could save you money. Don’t assume your lender will offer you the best option.
4. Do you have old pensions sitting idle?
Lots of people have pensions from previous jobs they’ve lost track of. Reviewing and possibly consolidating them can give you more control and transparency.
5. Are your plans still fit for purpose?
Life changes, so should your financial plans. What worked five years ago might not be the best approach now.
Final thoughts
At Citrus Financial, we help people gain clarity, confidence and control over their money. We start with a simple conversation.
The value of pensions and the income they produce can fall as well as rise. You may get back less than you invested.
Approver Quilter Financial Services Limited & Quilter Mortgage Planning Limited. 20/06/2025
About the author: David Braithwaite is a highly regarded financial expert, known to many as BBC Radio Kent’s “Money Mentor,” where he shares practical advice and insights on managing money effectively. As the founder of Citrus Financial, David has built a reputation for providing tailored financial guidance to individuals and families, helping them achieve their financial goals with confidence.
