Independent New Year Financial Advice



Posted on: 21st December 2022

With the Christmas festivities upon us, it’s never too early to get a head start on your 2023 finances and begin planning for what the future holds.

As we crept into 2022 following a tumultuous 2021, we never expected to continue facing the various financial challenges that 2022 hit all of us with. It caused plenty of shifting around with how we save and use our money for the most part – and there is no reason to believe 2023 can pose similar if different, challenges.

With that in mind, what is the best way to build up your savings in the new year? How much should be spent day-to-day, and should you continue putting away plans and pensions? What about saving for that first home or choosing the right investments? The biggest question of all is how can you make and stick to a financial plan when things get crazy.

Independent financial advisers Manchester can help you get the answers to each question, and provide help with each of them to go with it.

Your Financial Plan

First off, every person’s financial outlook is going to be different based on their circumstances – so know that every piece of advice is generally tailored to them. However, there are some general steps to consider.

First off you could look at dividing your financial plan into three separate parts to focus on today’s living, your plans and what is essential. Essentials should be around half of your income, with the future saving being around 20% and today’s living being the remaining 30%. It is a balance that you should try to maintain even as your costs and income change shortly.

Another is to reward yourself with little milestones to hit along the road to your long-term goal to keep things moving along positively. Call them incentives if you will, helping you to stay focused and driven towards your plan. If you work toward just the major goal, it will feel unattainable and you will find yourself overly tempted to drop that goal.


If you don’t need instant access to the bulk of your savings, consider term deposits. These offer a fixed rate of interest on money that is held for a pre-specified period.

This will invariably be preferable over anything you’ll find on instant access savings accounts. Another good piece of advice is to look for special offers that give generous interest rates for your first year, switching when the offer expires. Also look for marginal gains – small incremental savings like coffees, lunches and those day-to-day luxuries that have cheaper alternatives out there. Work these small improvements into your lifestyle and potentially save upwards of thousands of pounds in extra savings next year.

Seek Professional Advice

The most important thing you can do with your finances in 2023 is to get the best advice and guidance on how to make it work for you. That would be talking with independent financial advisers Cheshire who know how the landscape is and how to help you on the road to your goals.

Contact the team at Haven IFA for entry into a more structured financial future planning.