Make 2023 Financially Healthier. Most of us can experience stress related to money, but it doesn’t have to be that way. With the correct information and resources, you can start managing your money and improving your financial security in 2023. This manual outlines our straightforward yet effective suggestions for achieving financial wellness and freedom in the coming year.
Not at the top of your list, is life insurance?
There are many reasons why getting life insurance should be at the top of your to-do list in 2023, especially if you want to feel financially secure, even if you haven’t decided on a policy or even started thinking about it yet.
A life insurance policy can offer your loved ones a financial safety net in the event of your death, in addition to giving you peace of mind.
Your life insurance policy would have so much more to offer than simply a flat sum pay-out if you let Multiquote help arrange your protection. With annual evaluations to make sure your cover always remains relevant to your lifestyle, we can design a life insurance policy that is specifically tailored to your individual needs.
With many of the top life insurance companies that we partner with offering *free additional benefits when you take out a life insurance policy with them, your customised policy can also help you in other aspects of your life. To begin your free quote and move one step closer to organising your life insurance, click the button below.
Credit is important
Don’t undervalue the significance of your credit score or the reasons why, if you haven’t already, you should. First off, it’s important to note that your credit score won’t have an affect on your ability to obtain life insurance and that it won’t ever be verified when you purchase a policy from us.
If you don’t know how to check your credit score, it’s as easy as downloading an app or accessing a well-known website. There are lots of free apps available as well. Simply put, if you want to be able to purchase a home, obtain a loan, or obtain a credit card, you must have a decent credit score. The higher your credit score, the better your creditworthiness and the better credit loans you can obtain.
Don’t freak out if you check your credit score and find that it’s lower than you anticipated. There are many resources for assistance and people who can assist you; Citizens Advice has a wealth of information on this on their website and can assist you if necessary.
Why not improve your credit score to get 2023 off to a good start? There are numerous apps and websites that can provide you a realistic picture of your credit health, so you don’t have to take any extraordinary measures to learn your particular score. AnnualCreditReport.com is one of the most well-known websites, and there are a tonne of apps available, including ClearScore, Credit Karma, and Experian (just to name a few).
Why you should consider income protection
There is no one size fits all when it comes to life insurance. Due to the fact that each person’s cover is unique and depends on their own circumstances, the policy that works for you could not work for someone else.
A specific form of insurance coverage called income protection guards against loss of income. You will be covered if you are off work due to illness or accident by paying a monthly premium each month to maintain your cover in place (this is the same with all life insurance policies).
This kind of coverage has never seemed more crucial, with NHS waiting times being at an all-time high and an estimated 7.2 million** people waiting to begin treatment at the end of October last year. If you are unable to work, your income protection policy would give you direct cash payments in the form of monthly instalments.
With an income protection policy, you could have money to assist you pay for the necessities of life because it can cover up to 50–70% of your monthly salary (think the weekly food shop, vets bills, childcare costs, the bills). Consider income protection as an aid that will be there for you whenever times are difficult.
Make a budget and keep tabs on your spending patterns
To improve your financial welfare, it is crucial to have a comprehensive grasp of your present financial condition. Making a budget for yourself with realistic statistics that support your aims and goals is an excellent place to start this process.
Once you’ve created a budget, monitoring your spending patterns will let you see exactly where your money is going each month and help you find any areas where you’re overspending or being careless.
You could track your expenditure with something as basic as a spreadsheet, and once you have it in front of you in black and white, you might start to notice a trend of wasteful spending.
Pay off your debts
You can make sure that any areas of financial risk you may have are properly protected by purchasing a life insurance policy from our team of professionals at Multiquote.
We will always ask about any debts you may have, including your mortgage, to work out exactly which areas of your life need to be covered. In order to make sure that your life insurance policy covers all of your expenses, we can evaluate your debts in relation to your annual income, savings, and any other significant financial information.
You may rest easy knowing that if something terrible were to happen to you, your loved ones wouldn’t have to struggle financially to pay any of your outstanding bills because all of your debts are paid in full.
