5 Smart Ways To Build Your Financial Wellbeing Starting Today

Currently, nine million people in the UK are struggling with problem debt, 11.5 million do not even have £100 in savings, and a further 24 million people do not feel confident making decisions about financial products and services.
By: JAMortgage
 
 
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Tag:
Independent Mortgage Advisor

Industry:
Financial

Location:
Leeds - LEEDS - England

Subject:
Services

LEEDS, U.K. - April 21, 2020 - PRLog -- Independent Mortgage Advice – Financial Well Being

Financial well-being is the sense of security you feel from having enough money to meet your future needs. It comes when you have control of your day-to-day spending and finances, and have the freedom to make choices that let you enjoy life.

5 Smart Ways To Build Your Financial Wellbeing Starting Today


Continue to develop your expertise; learn and train (always be employable!) – If you do lose your job, having a set of skills that almost everyone needs to do almost any job will help you avoid any long-term period of uncertainty.
Maintain a low debt-to-income (DTI) ratio - Mortgage lenders look at this to assess your ability to cope with repayments. A DTI of no more than 45% should be a starting point.
Purchase adequate life insurance - It's impossible to overstate the value of protection.
Maintain an emergency fund - As a rule of thumb, try to build a financial cushion of at least 3 months' essential outgoings available in an instant access savings account.
Increase your knowledge of financial topics to make smart financial decisions - For instance, simply setting aside £25 a month for a year. At the end of which, the money could put in a savings account to grow. therefore eliminating a significant amount of financial stress were a boiler to break down, or if a car needed an urgent repair.

Begin your financial stress-free journey when buying a property in the West Yorkshire and Leeds local areas by contacting an Independent Mortgage Advisor near you: https://jamortgage.co.uk/independent-mortgage-advice-leed...

JA Mortgage offer a free initial consultation.

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