Reality has well and truly kicked in for most of us, following the challenges adapting to this ‘new normal’ we saw created during week one, we enter week two of working from home. However, in the majority of cases we have overcome many hurdles faced last week and it has actually created opportunities in some cases.

The first few days were probably a bit of a novelty for those who are not used to working from home, until you established some sort of routine in your new working environment including sharing this space with spouses, partners, children, other family members and pets.

However, this is an extremely difficult period for us all and with many facing reduced hours, redundancies and no / reduced money coming in, we are all looking at our personal and business budgets to try and find options to save money.

Most of us will be looking at cutting costs from our monthly budget. Perhaps looking at premiums you are paying to personal and business protection, with a view to cancelling them. However, before doing this it’s important to please consider the cost of the premium vs. the loss of the benefit - which can be substantial and may be difficult and more costly to replace in the future.

The government have introduced a number of measures to help people affected by COVID19 restrictions and it is important that these support options are explored.

Some clients may also be examining the income/withdrawals they are taking from their investments and pensions, with some reducing the amounts they are taking at the moment to reduce the effects of ‘pound cost ravaging’. On the other hand, others are also setting up regular premium contributions to ISAs and pensions to maximise the benefits of ‘pound cost averaging’.

Whatever your concerns or issues may be we are always here to listen and help. Please feel free to contact your Financial Planner to discuss your own personal circumstances.