I’m a big believer that everyone needs financial advice. That need is created by the lack of education around money and the uncertainty of their financial future. I remember reading Animal Farm at school and not understanding it was about the Russian Revolution. I remember being taught about irrigation systems in West Africa too, neither of which have been a great deal of use during my life.
What I don’t remember being taught about is compound interest, debt or APR. All of which I would have found useful for my financial future. As would the rest of the population of the UK.
This lack of financial education has led to poor numeracy and bad money management. So whether you’ve sold a start-up for millions or you’re trying to manage the household bills, financial advice would be of some benefit.
The Cost of Your Financial Future
I read this article in the trade press recently and it made me die a little:
Financial advice in its current form is never going to be affordable to everyone who needs it. But then neither are foreign holidays or new cars; that doesn’t mean it is a luxury item like the author would have you believe.
Advice can be seen as a luxury because demand outstrips supply, which pushes the cost up. One of the joys I get from my job is helping people, rich or poor, for that reason I’m happy to be the John Lewis not Louis Vuitton of financial planning.
Why Money Doesn’t Need to Take a Backseat
The Head of Team Ineos Dave Brailsford talks about small wins. That has always resonated with me. And if you’re a professional sportsperson I get it; small improvements for the win. But for your average person, big wins are better.
I once bought a new bike; it was very expensive, made of titanium, and I even upgraded the wheels. I told my boss all about it, and in his inevitable style he said “if you want to go faster wouldn’t you be better losing the extra two stone you’re carrying?” It was a painful but very fair point.
Seeing the big wins and changes are one of the reasons I love working with creatives so much.
Why you need a Financial Adviser
My wife went to drama school; she is a voiceover artist, produces audiobooks and is an expert crocheter, so you could say she’s “creative”. When it comes to money and numbers it’s a disaster. She is as numerate as I am fluent in Mandarin. That is not a criticism. I don’t have a creative bone in my body. I’m forever envious of creative people. I’m in awe of their ability to paint, knit, sing or write. There have been dozens of times, mainly on the dance floor, when I’d have swapped my logical brain for some artistic flair or an ounce of rhythm, but that’s not me. I do have a talent in other areas, especially the financial future of others. When it comes to explaining complex, even boring, things in a simple and interesting way I excel.
Empowering Creatives To Take Control of Their Finances
I’ve recently been very fortunate to take on some clients that work in creative industries. It’s made me realise that my wife isn’t the only one who is disengaged with money. It seems like many creatives are not financially aware. It’s not that they don’t want money; they all work incredibly hard, but it’s clear it’s the by-product of what they enjoy doing.
Some are incredibly successful, some less so, but their finances take second fiddle to their passion, and I love that. And that is one of the reasons I find it so rewarding working with them.
Ready To Take Control Of Your Financial Future? Let’s Talk.
If anything I’ve said in this article resonates with you, you know that you should be doing more with your money. Be it making smarter decisions about tax, understanding your expenses better or making better provision for your financial future, I want to help you. You’ll be amazed at how much easier it is when you have someone holding your hand. You can find out how we do things here.
The first meeting is on us. It’s laidback, non-judgemental and I guarantee you’ll come away feeling more empowered and engaged with your finances than ever before. Make sure to book a consultation with me for Independent Financial Advice.