Is it time to consider a post-Spring financial clean-up?

Andrew Tricker, 23 June 2022

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The significant rise in the cost of living means that careful consideration is required for financial expenditures. This year has seen higher energy bills, not to mention other increasing costs such as fuel, second-hand cars, house prices and food to name a few.

As we are now a few months into the new tax year, pensions and ISA allowances are available for us to use. This is now the perfect time to have a financial clean-up.

What could you do to reduce costs?

Evidence shows that markets rise when the weight of money is invested at certain points in the year.

To avoid market inflations, organising an early ISA payment this year, making regular payments, or even utilising allowances earlier than everyone else may be beneficial.

Perhaps it’s a good opportunity to review your standing orders and direct debits?  Examine your expenditure to see if there are any savings to be made. You might consider setting up a standing order to a savings account that kicks in as soon as you get paid.  In that way you are spending whatever is left in your bank account after you save money, rather than trying to save whatever is left over once you’ve already spent most of it!

Although there are currently very little options in reducing energy bills, it may be worth reviewing items such as car insurance, credit cards, regular payments from your bank, can be scrutinised with the opportunity for significant savings to be made.

How can you improve your finances?

By reducing costs sooner than later, it can help to support your long-term financial goals.

We’ve summarised key areas for you to consider to help improve your finances:

  • Review regular expenditure to identify any unexplained expenses that may no longer be required or necessary
  • Consider increasing your regular pension contributions, if this is affordable
  • Ensure you’re invested in the best performing funds within your risk level
  • Top-up your ISA early this year
  • Review insurances and credit card arrangements by researching what is available
  • Review your TV, film streaming, mobile phone contracts

How can we help?

If you’re looking for further guidance on how to manage your finances efficiently, please get in touch with Director, Andrew Tricker ( or Chartered Financial Planner, Görkem Gökyiğit (