Kick-Start Your Financial Fitness for 2025: A January Checklist

Key Topics:

? ISA Allowance: Maximise your ￡20,000 tax-free savings.

? Pension Planning: Align contributions with your goals.

? Budgeting Tips

Featured Tip: "Use your ISA allowance before 5th April to take advantage of tax-free savings opportunities."

Reassess spending and boost savings. The start of a new year is the perfect time to take stock of your financial wellbeing and set yourself up for success in 2025. Think of it as your annual financial fitness MOT. Whether it’s tackling your savings, reviewing your spending, or planning for retirement, making small, intentional changes now can lead to big results later.

Money Matters Financial Fitness Checklist is a fantastic starting point. Here are some key areas to review this January:

1. Are you making the most of your ISA allowance?

There are around 90 days left until 5th April to utilise this year’s ￡20,000 tax-free allowance. Whether you’re saving for a rainy day or investing for the future, ISAs are one of the most tax-efficient ways to grow your wealth.

2. Is your pension on track?

The earlier you plan, the easier it is to hit your retirement goals. But if you are in your 40s it is still not to late to get started. For those with pension planning already in place, start the year by checking your contributions. Are you on course for your gorals? Have you taken advantage of employer contributions? Are you maximising any government tax relief? Could you be contributing more, even if it is an extra ￡50 or ￡100? With the impact of compound interest extra contributions make a big difference over time.

3. How’s your spending and saving balance?

After the festive season, it’s easy to feel the pinch. January is a great time to reassess your spending habits. Are there areas you could cut back on to boost your savings? Remember, financial resilience starts with having a clear plan for the future.

Why now?

A new year brings new opportunities to take control of your finances. By acting now, you can avoid the stress of last-minute financial decisions and start building towards a confident, secure future.

How we can help

At Unividual, we know that for clients financial planning isn’t just about spreadsheets. It’s about aligning your money with the life you want to lead. If you’re not sure where to start, check out our financial planning guides for help on how to navigate your journey, from maximising savings to planning for long-term goals.

?? Make 2025 the year you take charge of your financial wellbeing.