Naz Financial

A Personal Financial Blog from Naz Miller

Review of 2023

As we come to the end of another economically tumultuous year, I’d like to take this opportunity to remind you of the personal finance topics I’ve covered in the past 12 months.

The general economic health of the nation has been a dominant factor for us all, of course. And my reminders, that if at all possible, you should maintain your investments in pensions and other assets. These things do tend to be cyclical, and it’ll hopefully leave you better placed to take advantage of any upturn that returns.

State of the Nation

So, we started the year with 5 reasons to maintain your pension contributions in an economic downturn. All about trying to take advantage of the situation, even if it seems to be bad. There’s always an upside!

We returned to this theme later in the year, in July, when we looked at High UK Inflation: How to Minimise the Pain. In particular, the erosion of purchasing power, diminished savings growth, fluctuating investment performance, and challenges for pensioners are upper-most in our thoughts during inflationary periods.

To mitigate these effects, I recommended you consider a diverse range of strategies, including inflation-linked investments, alternative savings options, and exploring inflation-adjusted pension plans.


Efficient Saving

How to save efficiently, taking advantage of the environment and getting more bang for your buck was a common thread throughout the year. These topics should appeal to most savers:

Big on Budgets

You don’t have to be responsible for the state of the national economy to need to budget. It’s something we all should do. Back in June I gave you plenty of reasons to: 6 Benefits of Budgeting for Personal Finances.

Of course, back to the national picture, the Chancellor had a few things to say, too. So I covered them in Pension Changes from the 2023 Spring Budget and Jeremy Hunt’s Autumn Statement, 2023.

And now all that remains is for me to offer my seasonal greetings and best wishes for whatever 2024 throws at us!

Good luck!

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Naz Miller

I'm Naz and I'm a Financial Adviser. Prior to working in private practice, I spent 34 years working at Lloyds Bank in Cambridge and surrounding areas. My work has always focused on helping clients achieve their long-term financial objectives.

Glossary of Personal Financial Terms

AAA Rating

In short, AAA ratings (‘triple-A‘ ratings) are the highest credit rating available for an investment, such as a bond or company.

AAA ratings are issued to investment-grade debt that has a high level of creditworthiness with the strongest capacity to repay investors.

Similarly, the AA+ rating is issued by S&P (Standard and Poor) and is similar to the Aa1 rating issued by Moody’s. It comes with very low credit risk and indicates the issuer has a strong capacity to repay.