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My money fact find Date: ………………..…

A money fact find is essential preparation for making a savings and investing plan that suits you and your goals.

The here and now

|Me | |

|Age, family situation, financial dependence, residence and domicile. | |

|Budget |Monthly income |£ |

|Use our Budget planner. |Monthly outgoings |£ |

| |Difference +ve/-ve |£ |

|Assets |Asset |Value |Interest rate and |

|Record what cash you keep on hand for emergencies. We suggest enough | | |monthly return |

|for three months essential household outgoings. Read our guide to find |Cash |£ | |

|out more. Then list your property, possessions, existing savings, | |£ | |

|investments, pension and life insurance, and what returns they pay if | |£ | |

|any. | | | |

|Liabilities |Liability |Amount |Interest rate and |

|List the value of what you currently owe to others: mortgage, personal | | |monthly cost |

|loans, credit card balances and any future financial responsibilities | |£ | |

|like commitments to children or other dependants that are not covered | |£ | |

|in your regular budget. | |£ | |

|Planned spending | |

|Do you have any planned major expenditure in the near future | |

|(conservatory, upgrade of car, sabbatical or extended holiday etc). | |

|Earning capacity | |

|Record your current occupation status and what you think your | |

|occupational salary and pension prospects are likely to be in the years| |

|ahead. | |

|Tax status | |

|What rate of income tax do you pay? What allowances are you using? | |

|Health | |

|Note any known issues that may have some impact on your income or | |

|expenditure. | |

|Inheritance and wills | |

|Record the terms of any wills or trusts that you expect to benefit | |

|from, and the terms of your own will and what you would like to leave).|Date I made a will – |

| |Where it is stored – |

Looking ahead

|Goals and aspirations |Goal |Sum |By when |

|Name your goals – such as study, children, home move, career changes, | |£ | |

|retirement, travel etc. If you have several, which are the priorities? | | | |

|What dates/timings are important for you to have sums of money | | | |

|available? | | | |

|Do you need to achieve a minimum lump sum or income as an absolute | | | |

|must? If so, how much is that and how often/when? | | | |

|If your goal is to produce income, how much do you need after tax and | | | |

|how frequently? | | | |

|Use our guide to calculate costs and dates. | | | |

|Changes to circumstances | |

|Things on the horizon that have money implications – relatives going | |

|into care, children needing further support, changes at work etc. | |

|Is your tax status likely to change in the near future (for example if | |

|you plan to move abroad or stop work)? | |

|What do you think will happen to interest rates? | |

|Would this this affect your needs? | |

Know yourself

|Reflection on past experience | |

|What types of products have you had – shares, unit trusts, endowment | |

|policies etc. | |

|What were your aims and what was your experience? | |

|What ups and downs in value did you encounter and how did you feel | |

|about it? | |

|Have you sold early or cashed in/transferred an investment policy or | |

|plan? | |

|Why and how much did it cost you in penalties? | |

|How hands on are you? | |

|Do you like to manage investments yourself or would you prefer to pay | |

|someone else to do it for you? | |

|How much are you willing to pay? | |

|Risk attitude and capacity for loss |Examples |

|Risk appetite is not just about how comfortable you are with risk , but|Mortgage paid by the time I stop work |

|also about how much you can afford to lose, and how much recovery time |Risk appetite: Low 1 2 3 4 5 6 7 High |

|you have if values fall. |Travelling round the world fund |

|This means that risk appetite is usually different for different goals.|Risk appetite: Low 1 2 3 4 5 6 7 High |

|If a goal requires a certain sum by a critical date you may have little| |

|appetite for risk, but for a less critical goal you may be willing to |Goal: |

|accept the ups and downs of the market for higher potential gains. |Risk appetite: Low 1 2 3 4 5 6 7 High |

|Note your risk appetite in relation to your various goals and take | |

|account of it when you make your investment plan. |Goal: |

|If you want to think more about risk read our guide. |Risk appetite: Low 1 2 3 4 5 6 7 High |

| | |

| |Goal: |

| |Risk appetite: Low 1 2 3 4 5 6 7 High |

|Are you more of a saver or a spender? | |

|If you know that you find it difficult to stick to savings commitments | |

|you might want to choose products that create regular savings habits, | |

|or that make your savings hard to access until your goal date. | |

|Ethical concerns | |

|Do you have investment concerns on a moral or religious basis that will| |

|affect your choices? | |

Your saving and investing potential

|How much money do you have available? | |

|Do you have lumps sums to invest – how much? | |

|Are you looking for regular savings and investing plans – how much can | |

|you regularly pay in? | |

|Do you foresee your spending patterns changing in the next few years? | |

|Is there a likelihood of further money available in the future? | |

|Affordability | |

|THINK – is your budget realistic or are you over-stretching? | |

|Is there likely to be pressure on your budget in the future? | |

|Could you increase savings or investment if things ease off financially| |

|as children leave home, a mortgage is repaid, or you receive an | |

|inheritance? | |

Now you have completed your fact find you are ready to make a saving and investing plan yourself or in consultation with an independent financial adviser.

Read our guides:

Making a savings and investing plan

Do I need further advice?

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