Proper management could boost wealth by 30%

Monday, 05 September 2005 12:00

People across the UK could boost their personal wealth by 30 per cent, a new report reveals.

According to Premier Business Finance Consultants (PBFC), proper management of your existing money could see the nation's wealth shoot up.

"People get into a comfort zone and stick with what they know. They are always sceptical about change particularly when it comes to managing their money," said Michael Kenney, director of PBFC.

But by paying attention to finances could pay big dividends, for example a mortgage holder switching away from their lender's standard variable rate could effectively add ten per cent to their income with one decision (full story ).

PBFC, who specialise in financial planning and restructuring, believes that most Britons would benefit from a more active approach to their money both now and in the future.

"I don't just work with super rich individuals; I believe almost everybody could be advised to consolidate and restructure their financial assets to make their money work for them," said Mr Kenney.

"I urge people to become more imaginative about organising their finances. It is all too easy to feel nervous about your money and leave it where it is doing nothing. There are numerous opportunities that exist giving all sorts of people that chance to improve their financial status."

• Tags:
• news