It’s nearly bedtime. Well it is bedtime……

And I am lying in bed, writing this in my head, while trying to fall asleep and wondering what on earth I can write about September that doesn’t sound like every other blog, sound bite, podcast, LinkedIn post about going back to school.

“September is the new January!”
“A new season is the perfect time to get your finances in order!”
“September is a great time to review your plans etc.”

And whilst all of those things are important, I wanted to think about September a little differently.

Because our children are going back to school…………why shouldn’t we?

 

Maybe it’s time for us to go back to school too

Not literally, obviously I have absolutely no intention of sitting in a school classroom again.

But perhaps September is a good time for us to go back to school when it comes to our finances.

One thing I’ve noticed over the years is how often people apologise for not knowing something.

I recently spoke to someone who said something along the lines of, “I really should know this, shouldn’t I?”

And the answer is no.

You really shouldn’t.

We aren’t born knowing how pensions work. We don’t automatically understand investments, tax, protection, ISAs or how much we might need for retirement.

And yet people often feel that they should know.

I’ve lost count of the number of times someone has said to me:

“I wish I’d known that.”
“I didn’t realise that’s how it worked.”

(It’s not a Hannah Witty Blog without a photo of my brood!)

 

That moment when it all clicks

And actually, those are some of my favourite conversations.

Not because I enjoy watching someone realise they didn’t understand something – quite the opposite.

It’s because I love that moment when something suddenly clicks.

That little light-bulb moment when someone says, “Ohhh… I get it now.”

That, for me, is one of the most rewarding parts of being a financial adviser.

And it reminded me of a conversation I had only last night.

 

“I really need to get myself together financially”

A long-term friend of mine, who used to be in the RAF, now working in Italy with his wife and their two young children, inspecting aircraft.

He knows what I do for a living, and we were chatting about life, work and the future.

He’s in his 40s and said something that I think many people could relate to:

“I really need to get myself together financially.”

The job? Tick.
The family? Tick.
Life by their design is good. Massive Tick.

But what about the longer-term financial picture? Maybe not quite so clear.

So we had a candid conversation about some of the things he could be doing now to invest in his family’s financial future.

Nothing complicated.

No judgement.

Just a conversation and a bit of financial education.

 

You wouldn’t try to fix an aircraft yourself

At the end, he very kindly told me how knowledgeable he thought I was and joked that if I ever had an aircraft, he’d be more than happy to fix it for me!

It’s actually a good analogy for financial advice.

If I needed an aircraft fixing, I wouldn’t start watching YouTube videos and attempt it myself.

I’d find someone who knows what they’re doing.

But equally, I’d still want them to explain what they were doing and why.

And I think that’s what good financial planning advice should feel like.

 

There’s a lot of information out there – but is it advice?

We live in a world where we are constantly surrounded by information.

Everywhere.

Social media is full of people telling us which supplement we apparently need, how we can transform our bodies in 28 days, which bank account is paying a particular interest rate, and what we apparently must do with our money.

Some of it is useful.

Some of it isn’t.

And some of it is presented as advice when, actually, there is a very important distinction between giving general information and providing regulated financial advice.

 

Make September a month for learning

So perhaps this September, rather than simply thinking about getting your finances “sorted”, think about learning more about them.

Read a book.

Listen to a podcast.

Follow a credible source.

Ask your pension provider a question.

And if there is something you don’t understand, ask.

There really is no such thing as a silly question when it comes to your money.

In fact, I’d argue that asking the question is often the cleverest thing you can do.

 

What could you learn about your finances this September?

So whilst the children are getting their new uniforms, sharpening their pencils and heading back through the school gates this September, perhaps we can all take a little inspiration from them.

Go back to school.

Learn something new.

Ask questions.

Challenge what you think you know.

And take a little time to understand your own financial situation.

Because knowledge really is power.

And if, once you’ve done that, you decide you’d like to take it a step further and have a conversation with a financial planner, then you’ll know where we are.

No jargon.

No silly questions.

Just a conversation.

 

Contact us here and start conversation with one of our financial advisors today.

 

 

This article is for general information only and does not constitute as financial advice. Please do not take or refrain from action based on its contents.

Robson Laidler Wealth is a trading style of Robson Laidler Financial Planning Limited, a company registered in England no. 5395046. Robson Laidler Wealth is authorised and regulated by the Financial Conduct Authority no. 458879. The Financial Conduct Authority does not regulate some tax advice or estate planning. The Financial Ombudsman Service is available to sort out individual complaints that clients and financial services businesses aren’t able to resolve themselves. To contact the Financial Ombudsman Service please visit www.financial-ombudsman.org.uk.