An exercise regime for your finances
June 11, 2007 by admin
Filed under News, News-Banking
Many of us could do with giving our finances a good workout, just like we do when trying to get our bodies into shape.
The British Bankers’ Association (BBA) says that we can keep our finances looking fit just as we can begin living a healthier lifestyle.
We are being advised to review our finances and speak to our banks and financial advisors, much like how you might consult a gym for a fitness check.
Although many people find banking to be daunting and something of a chore, the BBA points out that getting your finances in order means you are better prepared for any future changes to your circumstances.
“The British Bankers’ Association is recommending customers take a little time to plan their financial needs just as you would consider your physical health,” said Angela Knight, chief executive of the BBA.
“That way you can ensure your finances are in good shape and you have the right banking and borrowing services in place.
“You can go to your bank and talk through your specific needs just as you would go to a personal trainer and talk through an exercise routine. It is vital that you set aside some time every month to review your bank statement,” she added.
The BBA has compiled a ‘Fit for Finance’ checklist and says that anyone considering visiting a financial advisor should run through the list and get a good idea of how they are doing.
The list asks: Do you pay your credit card balance in full every month? What plan do you have in place to repay a debt? And are you always struggling to cover debt repayments?
