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Financing Your Frocks

FINANCING YOUR FROCKS

Artichoke Girl, Alison Wright is a personal Financial Advisor and has been working in the financial services industry for over 30 years. She has responded to the constant focus in the news on the financial crisis with a lighthearted look at Financing Our Frocks.

“Being in charge and planning your finances is important in all walks of life, and no less for us fashionistas who enjoy enhancing and adding to our wardrobes on a regular basis.

One of the simplest ways of achieving this is to budget. Whilst most of us are probably used to paying our bills by direct debit these days, directly from our bank account, it is still important to have a handle on what money comes in and what goes out on a month-to-month basis. Do you remember the old days when our grandparents, or even our parents, had pots or jars into which they deposited regular amounts of money to meet outgoings and ensure that the essentials got paid? Then, whatever was left, was for the extras, such as socialising, days out, plus clothing and shoes.

Whilst things are largely automated these days as far as paying bills are concerned, it is still important to set aside some “fun” money so that we can all enjoy that extra treat from time to time and for all of us who love Artichoke, that means making some sensible clothing and accessory purchases!

Just as we should be making considered decisions about where to place our money, such as savings, tax efficient investments and pensions, investing in our wardrobes should also be carefully thought out.

We often hear Sarah and Donna talk about investment pieces and wardrobe staples as well as items that can move through the seasons. Creating what is often referred to as a “capsule wardrobe” and purchasing items that will work across more than one season and that can be mixed and matched with several other items, mean that significantly higher value and cost per wear can be achieved. Afterall, we are probably familiar with the saying “buy it cheap, buy it twice”, so it may be better to save up and buy that investment piece that you know will work within several outfits and will last the test of time.

A simple rule of thumb for managing your money is as follows: –

50% of your after-tax income on necessities including bills and pension contributions.

At least 20% on debt repayment and savings.

And finally, no more than 30% on wants, including socialising, holidays, and your wardrobe”

Alison prides herself of working with clients on a one to one basis to ensure that their financial plans and needs are achieved. She spends time to work with clients and to build trusted relationships and offers clear, precise and transparent advice on all areas of financial planning. Many of Alison’s existing clients have worked with her for over 20 years! 

Her main areas of expertise are in investment and retirement planning as well as helping with tax mitigation strategies. 

Contact Details

Email – Alison.wright@sjpp.co.uk

Telephone – 01474 573820/07885 418139

Website – www.alisonwright.co.uk

LinkedIn.com/in/alison-wright-1705881

https://www.facebook.com/Alison-Wright-Business-Page-102570018201654 

Instagram – alison_wright_sjpp

Vouched For– https://www.vouchedfor.co.uk/financial-advisor-ifa/longfield/063686-alison-wright

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