

6 small changes to improve your finances in 2025
23 snips Jan 9, 2025
In this engaging discussion, financial advisor Lisa Conway-Hughes shares expert insights on improving retirement savings. She highlights the impact of small, practical changes in budgeting and insurance that can lead to substantial financial growth. Lisa also delves into the complexities of pension plans, emphasizing the significance of understanding options at work. Additionally, she addresses common fears about pensions and stresses the importance of having an emergency fund, advising listeners on proactive financial management for a secure future.
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Small Changes, Big Impact
- Increase pension contributions, even by 1%, to significantly boost retirement funds.
- Small weekly amounts compound over time, creating substantial gains.
Contribute What You Can
- If 1% is unaffordable, contribute any amount you can manage, even if small.
- Adjust your lifestyle and cut back on non-essential expenses.
Pensions and Tax Traps
- Utilize pension contributions strategically to reduce your salary and maximize child benefits or nursery fee contributions.
- This is especially beneficial for those earning close to the benefit thresholds.