We cannot have missed the fact that not only was last Friday Black Friday but it was Black Friday Week.   And it continues with today being Cyber Monday.

There has actually been a lot of discussion in the media about the frenzy of buying this events can cause – ultimately there is a fear of missing out on the many perceived bargains out there but the reality is that prices may not actually be as reduced as retailers would lead us to believe.  We need to be aware of this.

However from our point of view as financial advisors, we would ask people to prioritise their spend.  We have been warned over the last week that a bargain is not a bargain unless you need the item.  Similarly we are not being savvy with our spend if we are not priortising what we actually spend our hard earned money on.

We all want to buy nice items for our family, our children, our loved one’s.  But materialistic goods are simply that – materialistic.  What really counts is knowing our family will be protected regardless of our circumstances.

With that in mind I think everyone should be asking themselves this week, are they financially savvy.

  • Have you got Income Protection cover in place?
  • Have you got Life Cover Protection cover in place?
  • Have you got Serious Illness Protection cover in place?

We all love a bargain but we need to spend wisely and priortise our needs.  Protecting ourselves, our loved one’s and our young families has to come first.

If you have been putting any of the above on the long finger, you need to contact us now.  Thankfully most of the time, it is not needed but it is peace of mind to have it in place, knowing our loved ones are protected, should the unexpected happen.

This is an opinion only and does not constitute advice as individual circumstances will determine all financial advise given.