{"id":18725,"date":"2023-09-06T11:09:24","date_gmt":"2023-09-06T10:09:24","guid":{"rendered":"https:\/\/new.contentdeployment.co.uk\/tomd\/?p=18725"},"modified":"2023-09-06T11:12:27","modified_gmt":"2023-09-06T10:12:27","slug":"your-financial-empowerment-toolkit","status":"publish","type":"post","link":"https:\/\/new.contentdeployment.co.uk\/tomd\/2023\/09\/06\/your-financial-empowerment-toolkit\/","title":{"rendered":"Your financial empowerment toolkit"},"content":{"rendered":"
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Traditionally, people might have assessed their financial health by simply checking the balance on their bank account or totalling their amassed level of wealth. In recent years, however, a different measure has emerged which seeks to balance financial stability with emotional wellbeing.<\/strong> <\/p>\n<\/div>\n\n

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Financial empowerment<\/strong> <\/p>\n<\/div>\n\n

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This new concept places greater emphasis on goals and developing a financial plan to achieve life\u2019s aspirations; in other words, it\u2019s about people gaining control over their finances rather than their finances controlling them. Achieving genuine financial empowerment does not therefore focus simply on someone\u2019s level of wealth, but on handling that money so it has a truly positive impact on their wellbeing. <\/p>\n<\/div>\n\n

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A state of mind<\/strong> <\/p>\n<\/div>\n\n

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In many ways, financial empowerment is about understanding the emotional relationship with money by focusing on an individual\u2019s mindset as well as their finances. Taking time to strategise, by aligning spending and savings commitments with long-term goals while being prepared for life\u2019s unexpected financial challenges, can provide a logical, ordered approach that brings satisfaction and pride to our financial lives. In effect, it creates control that affords a sense of financial freedom and thereby puts us on track to a fulfilling, well-lived life and retirement. <\/p>\n<\/div>\n\n

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Empowerment versus income <\/strong> <\/p>\n<\/div>\n\n

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Analysis1<\/sup>, which compares people\u2019s emotional experiences with their level of empowerment and earnings, offers further valuable insight. It found that financially empowered people had mostly positive experiences, even those in lower income brackets, while those who felt disempowered were generally less happy with their finances than their peers. This suggests that a sense of personal power rather than someone\u2019s income level is the key to achieving emotional wellbeing in their financial lives. <\/p>\n<\/div>\n\n

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It\u2019s all in the planning<\/strong> <\/p>\n<\/div>\n\n

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Financial empowerment effectively derives from equipping ourselves with the right tools. With the clear, transparent advice and professional support our firm provides, we can construct a well thought-out, long-term but flexible plan that will allow you to live the life you want and thereby achieve true financial empowerment. <\/p>\n<\/div>\n\n

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1<\/sup>Morningstar, 2023 <\/p>\n<\/div>\n\n

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The value of investments can go down as well as up and you may not get back the full amount you invested. The past is not a guide to future performance and past performance may not necessarily be repeated.<\/strong> <\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

Traditionally, people might have assessed their financial health by simply checking the balance on their bank account or totalling their amassed level of wealth. In recent years, however, a different measure has emerged which seeks to balance financial stability with emotional wellbeing.  Financial empowerment  This new concept places greater emphasis on goals and developing a […]<\/p>\n","protected":false},"author":4,"featured_media":18726,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,89,90],"tags":[],"hd_content_source":[],"_links":{"self":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/18725"}],"collection":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/comments?post=18725"}],"version-history":[{"count":5,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/18725\/revisions"}],"predecessor-version":[{"id":18731,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/18725\/revisions\/18731"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media\/18726"}],"wp:attachment":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media?parent=18725"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/categories?post=18725"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/tags?post=18725"},{"taxonomy":"hd_content_source","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/hd_content_source?post=18725"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}