May 2019

How to secure your family’s financial future

When you have a job, a family, and a home that all need your time and attention, it’s very easy to get caught up in the here and now. However, it is important that you look towards the future too. After all, in just a few short years, those that rely on you right now might not have you around anymore. Getting your affairs and family finances in order can be a daunting task, but it’s one that you can’t avoid. With that in mind, here are six ways to secure your family’s financial future.

Pay Off Your Debts

Before you start to plan what to leave behind for your loved ones, you should consider the things they might not want. Almost everyone has debt in one form or another, but, if you don’t clear your debts now, they may fall on the shoulders of your kids and partner later. To prevent this, you should figure out exactly how much you owe and create a plan of how to pay these bills off. If you do nothing else to secure your family’s financial future, leave them with nothing to worry about.

Secure A Retirement Plan

When you’re only young, planning for your retirement can seem unnecessary. However, it makes sense to start as early as possible. After all, the more time that you have to save, the more money that you’ll save up. You’ll also earn more interest on those savings. By seeking pension options now, you will have something to fall back on so that you can retire when you want to.

Write Out A Will

Most people assume that, when they pass on, their money and assets will immediately go to those they want them to. Unfortunately, this isn’t always the case. For this reason, you should work with experts, like Worrall Moss Martin Lawyers. They will be able to offer advice and solutions, guiding you through the process of planning your estate and writing your will.

Start Saving For School

Education does not come cheap. If your children choose to attend college or university in the future, they will have some pretty big bills to pay to earn their qualifications. This is why many parents decide to lend a hand. Depending on how many kids you have, you may want to start saving for school now. This way, they will have more money to split between them.

Encourage Your Kids To Work

Giving your children money whenever they need it might make them think that it comes easily. However, as you will already know, it definitely doesn’t. To teach your kids the value of money, you should encourage them to get jobs as soon as they can. This also means that they’ll have their own money to fall back on when you’re not there to offer them yours.

Protect Against Unexpected Costs

Whether it be a job loss or a house fire, just one disaster can destroy your finances, shattering the image of the future that you’d created for your family. Thankfully, you can protect yourself and your money against most unexpected costs. There are many different types of insurance that allow you to do this. You can also start to build up an emergency fund, just in case.

By following the advice above, you can ensure that you are making the best effort to secure your family’s financial future.

Welcome to this article of tips for new drivers. No matter your age or the amount of practice you have has, being a newly qualified driver can be scary. It’s all well and good being in the car with your driving instructor. No matter how far on in your lessons they always have the option to take control of the car and bring you to a stop before anything bad happens. You’ve also go the added bonus that it’s not your car that you’re driving, so if anything does happen to it you don’t need to worry.

As soon as you pass your test and get your own car however, you’re opened up to a new world of driving, and we know just how scary it can be. Hopefully these tips will prepare you for the troubles you might face, the dangers you need to avoid, and how you can be a better driver!

Tips for New Drivers

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Sort Out Your Insurance

This might seem obvious but I want to add it just in case you are unaware of the importance of car insurance. This step isn’t a choice. It is a legal obligation to have insurance in place for your car. The downside is that it can be expensive. The upside is that it will put your mind at rest, should the worst happen.

There are so many factors to be aware of when choosing your insurance package. I would always recommend starting by checking a comparison website. Study the packages available and the items included in each. Things like breakdown cover and a courtesy car aren’t always included but will make the world of difference if you ever need them.

When You Breakdown

There are many troubles that you might face when you first get on the roads, but it’s so easy to overcome them, and you definitely won’t be the only one facing them. One of the biggest problems that people have, is when a car breaks down. The first time it happens it can be scary. Just make sure to have your breakdown cover number on hand so that you can call someone out to rescue you.

As a first time driver you will most likely be going for a secondhand car, which is great! Unfortunately the older the car, the more prone it is to needing a fix or two. Common parts that people search for, are Peugeot Parts, Renault, and Fords. As the car is older, the parts are usually cheaper to source which is always handy. If you choose to go for a brand new car for your first car you might find that replacement parts are a lot more expensive.

Prepare for Bad Weather

Many people laugh at me when I talk about this one but it always puts my mind at rest. During the winter months, it is sensible to pop a few extra items in your car. Especially in countries which experience bad weather like we do here in the UK. Personally I always have a tub of salt, a small shovel, a small torch, extra windscreen cleaner and de-icer. This might seem a bit much, the shovel in particular. My attitude however is that I’d rather pack it and never need it than be stuck without. My car is quite small after all and isn’t the best at handling the heavy weather.

How You Can Be A Better Driver

This might also seem like an obvious point but there are a number of ways you can ensure you are a good driver. Making sure that your car is in perfect driving condition by checking your oil is topped up and you have windscreen wash in is always the best place to start. It’s also so important to make sure you yourself are in good condition. Driving whilst tired or distracted can be very dangerous. It goes without saying that you should never drink and drive.

We all fall into our own bad habits the longer we drive. This might be a less obvious tip, but sticking to the lessons your driving instructor has taught you is a key way to ensure that you drive well. You may no longer sit bolt upright with your hands precisely at 10 and 2. Simple things like checking your mirrors before you pull away will make a huge difference however.

Hopefully this article of tips for new drivers has helped to put your mind at rest as you venture into the world of driving.

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How To Secure Your Family’s Financial Future