Jonathan Vowles Chartered Accountants

01234 752 566


Are You Responsible? Financially Responsible? Are You Sure?

The landscape of personal finances has changed ...


The answer to this question will fundamentally affect how happy you and your family are for the rest of your lives. Over recent years the landscape of personal finances has changed. It's changed fundamentally, forever, for the worse, for everyone …

Whether you're running a business or a household, you have to be financially responsible!

Whether you're running a business or a household, you have to be financially responsible!

copyright: bacho12345 / 123rf stock photo

There was a report a few weeks ago that concluded that people who had retired over the last ten years or so were substantially better off than people who were currently middle-aged (or younger) and this gap in income and wealth was likely to get worse, not better.

The evidence is overwhelming. And it is all around us:

  • Austerity means the state will provide less help than ever before

  • We are already being forced to contribute more for the help we do get

  • Parents are being made to act as 'The Bank of Mum and Dad'

  • The young are burdened with student debts of £27,000 (or more) for university tuition fees

  • Parents must often contribute towards university living costs of £20-£30,000

  • Getting on the housing ladder is tougher than ever before

  • The elderly are having their savings decimated by care fees of £30,000 a year

  • The country’s national debt – £1 trillion and rising – will have to be paid for

  • People are living longer so retirement is going to cost more

  • And there won’t be a nanny state to bail you out either

This evidence is overwhelming and life can be brutal! The irrefutable fact of family life is that every single one of us must tackle these issues head on. Because if you don’t, no-one else will. Indeed, no one else can.

"In other words, you owe it to everyone you love, and that means taking lifetime financial responsibility!"

If you fail to act, if you kid yourself that these issues and other like them don’t apply to you, or that you can wait and deal with them later, well then you are operating on luck.

But if luck isn’t on your side, think of all the regret because things could have been different had you done more sooner. Think of the pain because your finances aren’t sufficient and you have failed to give yourself and your loved ones the happiness and life you wanted. And this will result in real hardship for you and your loved ones.

You must take lifetime financial responsibility because otherwise you won’t be able to prevent all of that pain, regret, hardship and shame. What does that mean? Well, specifically it means:

  • Understanding your current situation

  • Understanding your future situation

  • Managing your income

  • Managing your spending

  • Managing your saving

  • Managing your assets

  • Managing your liabilities

  • Managing your risks

I know that this sounds daunting, but actually, it’s much easier than it seems ... which is a good thing! Because if you care about your family and your future, you must take action to do these things.

"After all, no one else can or will do it for you!"

If you would like to create an action plan, then we have a 14-step checklist that breaks this process down into bite-size chunks. Using this checklist, you can identify how to not just take responsibility but take action to fulfil that responsibility.

And, as you might expect, we also have the tools and strategies to help you deal with each step on that checklist. So call me on 01234 752 566 and ask for your copy of our checklist or book a meeting to start taking action.

Until next time ...


More about Jonathan Vowles ...

I've been an accountant in and for business since 1987 and have a wide experience of consultancy, audit, accounts, taxation and wealth planning work from individuals and small businesses to multinational corporations and charities.

My eclectic interests in growing and developing business span a number of areas, which can be summarised as strategic business advice and tax saving advice.

I have worked with the Chamber of Commerce to deliver courses for people about starting up in business and have lectured about tax for a major accountancy practice and for Milton Keynes College.

I relax by reading fiction and by getting away from the office in a campervan.


01234 752 566