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1 Introducing your wealth check-up

Welcome to the wealth check-up sessions of your Midlife MOT.

This part of the course will help you understand:

• Where you’re at right now (Session 1). We’ll help you understand how well you’re managing your day-to-day finances and see if there are some simple changes that could have a big and positive impact for you. The cost of living crisis has reinforced the need to be completely on top of your household finances.
• Where you’re going next (Session 2). We’ll help you think about the next few years, make sure you’re planning ahead for the financial impact of future events and are prepared for pitfalls and surprises.
• Where you’d like to end up (Session 3). You’ll look ahead to your later life, pin down your ideal retirement lifestyle and make sure you’ve set a clear course towards it.

Watch the video where Legal & General’s Kath Photiou introduces the check-up and talks through what you’ll be covering in the first session.

Download this video clip.Video player: Video 1: Session 1 introduction

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Transcript: Video 1: Session 1 introduction

Kath Photiou

Planning for your financial future starts with a clear practical look at how you’re doing right now. So in this session of your wealth check-up, we’ll focus on your current financial situation. Are you feeling in control of your finances or does your money never quite seem to stretch far enough? Perhaps you’re worried by how household bills are soaring, particularly for energy, fuel, and food?

Our household budget and wealth check-up will help you take a good hard look at your financial situation. We’ll challenge you to trim 500 pounds from your annual spending and share some practical tips to help you do it. And we highlight the importance of building up a rainy-day fund, so you’re as ready as you can be for any financial shocks. You’ll also look at whether you can cut the costs of any loans or debts you have.

You will see just how much some simple steps might save you. As ever, your bedding your learning with some activities to complete, and a quiz at the end. We really hope you find this a useful process to make sure your finances are in a strong place for the future.

End transcript: Video 1: Session 1 introduction

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Video 1: Session 1 introduction