July 2003

ACUMEN FINANCIAL PLANNING AT JUNIOR CHAMBER ABERDEEN

Planning for a mortgage, a pension, life insurance, a child's education, a wedding.... These are just some of the financial considerations we may have to prepare for in life.

Our personal finances can be a very confusing and stressful subject that requires careful planning and expert advice. To shed some light this daunting topic, Tom Hyslop and Alan Ball, financial consultants with Acumen Financial Planning Limited, Aberdeen, met with members of the Aberdeen Junior Chamber on Wednesday 18th June.

The two financial consultants led a highly interactive and informative session with the goal of answering all about budgeting for futures and managing finances.

Throughout the evening, 'real-life' examples were used to illustrate the wide variety of circumstances people may encounter. Examples of financial planning with different salaries, occupations, dependants and ambitions meant that all present could relate to the content of the presentation. A reoccurring theme was the advice to save a moderate amount, regularly and to start saving early in order to avoid financial 'booms and busts' throughout the different stages of our lives.
Tom Hyslop ensured the evening had a lively start with a Q&A session on financial planning. Far from boring the audience with facts and figures, Tom dished out Kinder Eggs for correct answers as the audience estimated how much to save for a relaxing retirement.

Alan Ball then took over to speak about the importance of planning for a child's education. Many members of the audience were staggered by the huge amounts required in order to fund two children through further education. However, by the end of Alan's section, most were left a lot more upbeat through their appreciation that regular monthly savings made early in life, can cover most of life's occurrences and prevent any sleep-losing financial fluctuations.

The ever-cheerful Tom then returned to deliver 'a guide to life insurance' before the evening's proceeding were brought to a close. Tom and Alan were quickly crowded around with multiple financial questions being thrown in their direction.

Without question, a thoroughly worthwhile and educational evening.