FINANCIAL ADVISER CLAIRE SWEET SHARES TIPS FOR WORLD FINANCIAL PLANNING DAY

Claire Sweet, a financial adviser at Blueprint Financial Solutions, has urged people to review their personal finances ahead of World Financial Planning Day on 7 October. She said starting the process now is "the key thing to do". According to Sweet, clients should first establish exactly where they stand financially before considering other options, rather than being drawn towards "shiny, exciting" opportunities such as cryptocurrency. She set out a series of steps she recommends for organising money.

Her first recommendation is completing a budget planner that records bank balances, monthly bills and the income needed to cover them. She said many people miss out on growing their money because they do not plan ahead. According to Sweet, people on low incomes tend to budget tightly, while those in the middle income bracket, who make up the majority, often miss opportunities to grow savings through accounts such as ISAs, pensions or investments. She also recommends that clients keep an asset and liabilities tracker, reviewing figures monthly or quarterly, including credit card and loan balances, so they are not caught out when a 0 per cent interest period ends.

Sweet's next recommendation concerns finding a financial surplus, which she assesses by dividing spending into three categories: past, present and future. Budgeting and finding a surplus were two of five recommendations she issued for World Financial Planning Day. She said the aim is to help people move beyond covering their bills towards actively growing their money. Her advice was published to coincide with World Financial Planning Day, marked on 7 October to encourage people to review their finances.