By Dave Kavanagh

“Let’s go for a drink?”, “How about a nice meal out?”, “Shall we book a nice holiday?”, “How about an afternoon shopping?”, all questions that are (usually!) met with a positive response. “Shall we have a look through our finances and plans that we have in place?”, not usually met with the same enthusiasm or joy! For many reasons, people put off or avoid having to go through an exercise such as this, despite the fact that it can lead to them spending less and having more money left over each month! So, what excuses do they present to avoid this not-so-desirable activity and what are they really saying? Let’s have a look:
“I’ll have a look at that after Christmas”. This is sometimes replaced with “after Easter”, “after the holidays”, “after the kids go back to school” and a host of others. This is a bit like the “I’ll start the diet next Monday”. What you are actually saying is “I’ll name some time in the future, so I don’t have to face up to it or think about it now”. Let’s face it, you can make time to spend 30-60 minutes even once per year to look at something this important. Every year will have Christmas, summer time, back to school time, etc. Once you do, you’ll be glad that you did. “Our bank has sorted all that out for us”. Your bank may have sorted a few things for you but in most cases, banks are tied to one company’s products which means a fair comparison cannot be done and you may be overpaying. Dealing with an advisor who is not tied to one company and can compare other options is the only way to make sure you are getting the best value for money. “I’m busy at the moment, I’ll give you a shout in a few months”. Let’s face it, going through your finances is rarely on anyone’s favourite activity list. But the fact remains, if there is an activity you like, you can make time for it. Burying your head in the sand is rarely a successful solution to most problems!

If you have time to binge a box set, you have plenty of time for your finances.

Dave Kavanagh QFA has been advising people financially for over 25 years. For quotes or information (with no cost or obligation) he can be contacted by emailing info@financialcompanion.ie or use the contact form on www.financialcompanion.ie or @Davekav_advice on Twitter and Instagram. Combined with his previous role of gym/nutrition adviser, he regularly gives talks and workshops at seminars and events for groups, companies and government departments on financial wellbeing, positivity and motivation. As heard on RTE 2FM, LMFM and TV3.