Put your planning skills to good use

This simple exercise can help you start planning your financial future. All you need is a pen, paper and a spare 10 minutes.

Ideally, you should plan your finances to suit your future needs. One way to do this is to think about investing your money. This could be a good way to build towards your long-term goals.

For example when it comes to retirement, you’ll have spent your time as a head teacher working hard. As a reward you may have that once in a lifetime holiday you want to save towards. Or you may simply want to put more money away towards retirement itself.

As easy as ABC

It’s easier than you think to start planning your finances. You could even make a start now with our short task.

The first thing to do is split each of your goals into three categories. This way you’re able to start considering a suitable saving method for each of your needs.

You should list each one under:

1. Immediate needs – this is money you’ll need easy access to.

  • Holidays and hobbies
  • Unexpected bills
  • Home repairs/improvements

2. Short-term needs – these are goals which are over a year away, but less than five. They’ll need some form of financial planning, but this won’t be too detailed a plan.

  • Wedding
  • Special holiday
  • New car

3. Medium to longer-term needs – these are your needs that are five or more years away. They may not seem like a main priority now, but one day they will be.

  • Saving for retirement
  • Income and comfort during retirement
  • Inheritance for your loved ones

What comes next?

The next part involves thinking about where to put your money for each of your goals. You can start to think about this now, although meeting with a financial adviser could also be a great help with this.

This is where we can help. The NAHT has been in partnership with Skipton Building Society since 2005. Through NAHT Personal Financial Services, we can offer you trusted and expert financial advice. What’s more there’s no obligation to act on the advice you receive.

Through an appointment, a Skipton financial adviser will review your current situation and provide detailed recommendations that are suited to your personal needs.

An appointment from your classroom?

You don’t need to wait until the summer holidays to get the ball rolling. With Skipton’s award-winning Video Link service it’s easy to speak to a qualified adviser from the comfort of your own home or even from your office. You can organise an appointment at a time convenient to you. All you need is a laptop or tablet and an internet connection.

NAHT Personal Financial Services offers you a free initial telephone consultation to see if financial advice is right for you.

By investing with Skipton, the aim is to grow your money by a greater extent than is available through cash savings accounts to help you achieve your goals. Although funds are not like bank and building society savings accounts. It does mean placing your capital at risk, as its value can fall as well as rise and you may get back less than you originally invest.

To find out more about this service – or to book an appointment – request a call back or call 0800 121 4596.