Financial wellbeing tips for 2022
Having had more than a decade of steady (and at times spectacular) growth in the value of property and stock market investments, low interest rates, low (official) inflation, and low unemployment, 2021 has brought several nasty surprises. Inflation has made a dramatic return. Interest rates are rising. Access to mortgages is getting harder. Property investments are subject to a less benign tax treatment. Stock markets have become more volatile. The COVID pandemic continues to frustrate policymakers the world over. The world is truly a messy place right now, so what can you do to prepare for whatever 2022 may bring? Know your numbers In good times, a lack of knowledge and attention to the details is often masked by rising investment values and easy access to credit. As the great Warren Buffett said "It's only when the tide goes out that you discover who has been swimming naked". So right now it is more important than ever to know your numbers. What do you earn and what d