Couple in conversation with Financial Adviser

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Preparing for your financial future

There is little doubt that since the COVID pandemic hit these have been uncertain times for investors and savers.

Making the right decisions to protect your financial future can be difficult in such challenging times.

But amid the uncertainty and financial hardship many savers are doing what they can to take control of their finances and ensure they have a financial cushion.

By taking steps to put yourself in the best financial position possible, you can help ease your financial worries and take back some control. 

Financial confidence

Whatever challenges they may have faced as a result of the COVID pandemic, some people are seeing rays of light when it comes to their finances. A NFU Mutual survey of our customers, carried out in February 2021, showed that 73% are confident in their financial futures.

Everyone’s individual position is unique. Some NFU Mutual customers feel more confident in investing, have more disposable income and feel more confident about their finances in general. Indeed, 25% of respondents with disposable income told us they’d made a one-off investment into an investment plan, stocks and shares ISAs or pension plan over the last three months.

Among those customers who have managed to save over the three months leading up to the survey over 40% did so to provide a financial cushion for the future, whereas 34% were simply saving or investing while they had the opportunity.

Change of investment approach

Savvy investors have adapted to the moment. Some have shifted their investment focus in the quest for better returns. Others know that they can ride out the volatility by having a long-term plan, and by taking a disciplined and diversified approach to investing.

On the other hand, some investors are still reluctant to invest. They tell us they are holding back until circumstances change, whether that’s an increase in their disposable income or waiting to see what effect the easing of restrictions has. 

Start investing

There are two ways you can put your financial plan place, by making decisions about what is best for your circumstances with the support of an NFU Mutual Financial Adviser, with our advised service, or by making those decisions yourself, through our non-advised service.

Our advised service provides the help of NFU Mutual Financial Advisers who will create a plan for how to invest your money based on your personal cricumstances. Our non-advised service is designed for people who have carried out an assessment of their own personal circumstances and know the amount they would like to invest, their risk appetite and financial goals.