5 Financial Tips for 2021

by | Dec 28, 2020 | Financial Tips

So 2020 is finally coming to an end. A year that most of us can’t wait to see the back of! It is finally starting to look like there is some light at the end of the tunnel. Let’s hope that 2021 is a lot better. Here are 5 financial tips to make 2021 the year that you take full control of your money and your future.


1. Budget

The Christmas holidays can put a huge dent in your finances, so starting the new year off on the right track will be a great start. The first step is to manage what you already have more efficiently. Keep track of your monthly income and expenses. Stop making unnecessary purchases that you can’t afford! Setting a budget for you or your family will set you up for our next step so you will know how much you can save per month.


2. Start a Savings Plan

Savings are one of the most important parts of a solid financial plan. Start saving right away in 2021. Make it a new year’s resolution and make it a habit, no matter how big or small your contributions. Set savings goals, whether it is saving for a mortgage, a car, your children’s education, an emergency fund, or for a holiday. If you have money sitting in the credit union or bank, you may be losing money in the long run. Set up a Savings & Investments account with us and let your money work harder for you.


3. Take Control of Your Pension

Pensions are one of the most tax-efficient ways to save money. You can get up to 40% tax relief on pension contributions. Many people leave off starting their pension until later in life, but the truth is the earlier you start planning the larger your pension pot can potentially be! If you think you don’t need a pension in your late 20s or early 30s, think again. If you aspire to retire early, well you better start planning early. You need money to retire, not age! Your employer may offer to match your pension contributions, and if they do, take it because it is essentially free money! Just remember that the state pension may not provide an adequate retirement income.


4. Protect Your Money

Protection policies are so important yet overlooked by so many people. Nobody really wants to think about the worst-case scenario, but the question you need to ask yourself is – would you rather be safe or sorry? Protecting your finances is essential, and depending on your circumstances, you should probably have most or all of the following:


5. Seek Expert Financial Advice

Working with a financial advisor can save you a lot of time and money in the long run. If you really want to get the most out of your money, your best option is to talk to a trusted financial advisor (you know where to go). Whether it’s setting up a savings & investments plan, getting the most out of your pension, or protecting your money, we can help you to take control of your finances, and set up your bespoke plan. Book a complimentary chat with one of our advisors for the new year and start 2021 off on the right foot! We are back open on the 4th of January.






Oaktree Financial Services Ltd is regulated by the Central Bank of Ireland.

All content provided in these blog posts is intended for information purposes only and should not be interpreted as financial advice. You should always engage the services of a fully qualified financial adviser before entering any financial contract. Oaktree Financial Services Ltd will not be held responsible for any actions taken as a result of reading these blog posts.

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