The Financial Workout You Need: Why a Personal Trainer For your Finances Makes all the Difference

New Year’s Resolutions go back thousands of years. Until recently, I didn’t take them particularly seriously. I would ask myself, “What is the point in creating a long list of big lifestyle changes if I’m not going to stick to them?”.

However, as I have come to understand more about the science of habits and how to make them stick, it has completely changed my perspective on setting resolutions.  They can be a vital tool for getting what you want out of life.

As I write this towards the end of December, several Christmas lunches and nights out have led me to my first 2025 resolution: “I am going to get into the best shape of my adult life”.

Many New Year’s resolutions fail because they are not specific enough. They are usually a statement with no associated actions or timescales. As a perfect example, a recent survey found the two most popular resolutions in the UK for 2024 were “exercise more” and “save more money” ¹.  A vague resolution is unlikely to go anywhere.    

One of the best ways to stay on track with your resolutions is to be more specific. Instead of simply saying you want to “exercise more” you could commit to a more well-defined goal, for example, “I am going to get into the best shape of my adult life by adding 4 30-minute workouts into my weekly schedule”.

You also may not know where to start.  Which gym equipment should you use? How do you measure your progress? How do you make sure you don’t pull a muscle on your first go on the “Cross Trainer”?

The solution is often to get advice from someone who knows more about fitness than you do, like a Personal Trainer. Doing this offers a second, more valuable benefit. Sharing your goals with a third party, who holds you accountable for your progress, can significantly increase your chances of achieving them.

But this article isn’t about your physical fitness goals, it’s about getting your long-term finances into the best shape of your adult life (see what I did there?).  Funnily enough, the same principles apply.

You might already have an idea of what you’re hoping to achieve; for example, you may wish to “retire in the next 5 years”, “reduce my working hours” or “save for my children’s future”; but where do you start? There is a dizzying array of information and options out there, so how do you know which is right for you?

A Financial Adviser is like a Personal Trainer for your finances. They will take the time to understand your current situation and experience with money. They will discuss your aims in more detail and turn them into specific, measurable financial goals and help you to understand whether you’re on track to achieve them.

If you’re not on the right course, they will build you a plan with clear, actionable steps to help you get there.  They will meet with you regularly to track your progress toward your goals and update your plan if your circumstances or goals change. If you have questions or need help along the way, they’re a phone call or email away.  It’s their job to understand the what’s going on in the headlines or what’s changed in the most recent “budget” and to tell you whether it affects you or not.

It’s no surprise a recent survey of 12,000 adults found that “86% of those currently receiving advice from a professional financial adviser would recommend getting advice to family and friends”².

So, if you would like to invest in your financial health in 2025, speak to a Financial Adviser. If you don’t have one, or would like a second opinion, I would be delighted to help.

rhall@gilsongrayfinancial.co.uk

07487 801207

Ranald Hall is a Dunbar local and has been helping his clients to achieve their long-term goals for over 6 years. He was recently voted one of the UK’s Top-Rated advisers and will feature in The Times and The Telegraph “Top Rated Adviser Guide” in 2025.

The value of an investment with St. James’s Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested.

1 – Most popular New Year’s resolutions in the United Kingdom November 2024 – Statista

2-  – Opinium surveyed just under 12,000 UK adults between May and August 2024. Quotas and post-weighting were applied to the sample to make the dataset representative of the UK adult population.

SJP Approved 27/12/2024