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Busting financial planning myths

Busting financial planning myths

Financial planning is not as complicated as you may think

We’ve addressed some of the more common myths about the subject. 


Don't be put off planning for your future.

“Financial planning is just for the rich”

“Financial planning is just for the rich”

Not true. The truth is, financial planning is about making the most of whatever you have. Even putting away a few pounds can be a start to getting you on the right path towards your goals. 

“Younger people don’t need a financial plan”

“Younger people don’t need a financial plan”

Not true. The sooner you start to make a plan for your finances, the better. The longer you put off saving or investing, you are potentially reducing the time your money has to grow. 

“A good pension plan is all you need”

“A good pension plan is all you need”

Not true. A good financial plan should take your retirement into account, but there’s more to think about than pension payments. Look at your finances as a whole and factor in short, medium and long-term goals.

“Financial planning is just about investing”

“Financial planning is just about investing”

Not true. Investments could be a part of your financial plan, but planning how you save and spend to support your lifestyle is important too. The money people invest is usually the money they can afford to set aside for a longer period of time.

“Everyone’s financial plan is the same”

“Everyone’s financial plan is the same”

Not true. There is a financial plan for everyone, but not everyone’s financial plan is the same. Your goals are personal to you and your financial plan should reflect that.

“One plan is all you need”

“One plan is all you need”

Not quite true. Life is unpredictable and things in your life may change. Your financial circumstances may change and if they do, it’s a good idea to revisit your financial plan. It needs to work for you and will change as your life and financial situation changes.

Get your plan started

Get your plan started

If you’ve never tried financial planning before, now’s a good time to start. We can walk you through some of the basics.

Let’s get started

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