National Work Life Week is the perfect time to pause and reflect on how we manage the balance between our work, personal lives, and overall wellness. While we’re often reminded of the importance of maintaining good physical and mental health, one key element that can be easily overlooked is financial wellbeing. In fact, your financial health is just as important, and if neglected, it can negatively impact both your mental and physical wellbeing.
By planning for a secure financial future, you can enjoy peace of mind today and reduce long-term stress.
At Moneyfarm, we understand how essential financial wellbeing is to your overall health. Whether you’re saving for retirement, investing in an ISA, or building a diverse investment portfolio, we’re here to help you plan for the future and gain confidence in your financial journey.
Why financial wellbeing matters for work/life balance
Achieving the right work/life balance is essential for maintaining our health, happiness, and overall wellbeing. Yet, financial stress can quickly upset this balance, affecting both your work and personal life. Financial uncertainty can cause distraction at work, stress at home, and impact your relationships and mental health.
By investing in your financial future, you can regain a sense of control and security. Financial stability not only helps you feel more confident about your future but also allows you to enjoy the here and now. With a solid financial plan, you could even achieve the dream of a lot of people – early retirement or semi-retirement, reaching the ideal work/life balance that so many of us strive for.
How to take control of your financial future
Taking charge of your finances may seem daunting, but it’s key to reducing stress and building a secure future. Here are three tips to help you start today:
- Start early with pensions
The earlier you begin contributing to your pension, the more time your money has to grow.
Thanks to the power of compound interest, your savings can grow exponentially over time, making your early contributions particularly valuable. This is because compound interest is calculated on both the initial principal and the accumulated interest from previous periods. In simple terms, it’s “interest on interest” which causes your investment or savings to grow faster than it would with simple interest.
While the best time to start is in your 20s, the second-best time is today!
At Moneyfarm, we offer personalised pension plans designed to help you reach your long-term goals, giving you peace of mind about your future. - Combine Your Old Pensions
Managing multiple pensions from previous jobs can be overwhelming and time-consuming. By consolidating these pensions into one place, you simplify your finances, giving you more confidence about your financial wellbeing and one less life admin task to worry about.
With Moneyfarm’s fully managed pension service, we do all the hard work for you. Our team handles the transfer and management process, making it easy for you to keep your pension savings on track. Use can use our free online Find, Check & Transfer service to ensure you know exactly where your money is and make it work harder for your future. - Get Expert Help
Financial advice can make all the difference in achieving your goals. The sooner you seek expert guidance, the sooner you can enjoy financial peace of mind. Professional advice not only helps you build a comprehensive financial plan, but it can also give you insights into whether early or semi-retirement is within reach.
At Moneyfarm, our expert consultants are always available to help you plan and optimise your financial strategy.
Prioritise Your Financial Wellbeing
National Work Life Week is an excellent opportunity to reflect not only on your work/life balance now but also on your financial health. Planning for your financial future today can help you build the lifestyle you want tomorrow. A well-managed financial plan could mean more freedom in your retirement years, allowing you to retire or semi-retire early and enjoy life on your terms.
At Moneyfarm, we offer a range of investment products, from pensions and ISAs to GIAs and JISAs, all designed to help you make the most of your financial planning. With our tailored investment strategies and expert consultants on hand, we can help make managing your financial future simpler, so you have one less thing to worry about.
Carina Chambers, Pension Expert, Carina has a clear focus – to help people with their pensions and to give them a better financial future. For the last 5 years, she’s focused on making pensions more engaging and accessible with clear, straightforward guidance.
As with all investing, your capital is at risk. The value of your portfolio with Moneyfarm can go down as well as up and you may get back less than you invest. A pension may not be right for everyone. Tax treatment depends on your individual circumstances and may be subject to change in the future. If you are unsure if a pension is right for you, please seek financial advice.
*As with all investing, financial instruments involve inherent risks, including loss of capital, market fluctuations and liquidity risk. Past performance is no guarantee of future results. It is important to consider your risk tolerance and investment objectives before proceeding.
