20 FOR 2020
Ensuring you have the correct systems in place for the smooth-running and stability of your business is commonplace – but how many people have the same checks for their own personal wealth? Huw Jones, director of Cirencester-based Proposito Financial Planning, believes that the same actions you take in the office should be taken home. He said: “We are often surprised by how rarely business acumen is applied to personal wealth, so have looked at how common business practices can be used in relation to personal finances. “First, create a budget. As with a business, planned spending should be forecast and plotted. “It’s also vital to track your expenditure. Many banks have simple apps that help you track spending and what it is being spent on – including the true cost of those takeout coffees. “Have a profit and loss account, to detail your income and spending. It will reveal the financial health of your household. “Then it’s vital to plan, plan, plan – just as you do for your business. Create plans for one year, three years and five years ahead. “Have a cash contingency, for emergency spending and also invest in yourself, as you would your business or your staff. Saving now is effectively deferring spending for when you need it” l For more help and advice from the Proposito Financial Do you care for your finances like your care for your business?
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Planning team, based in central Cirencester (with free parking) email
Huw.Jones@proposito.co.uk visit https://proposito.co.uk or call 01285 708444
Huw Jones
40 | February 2020 | www. punchline-gloucester .com
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