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Back of a Napkin Financial Planning


When I was the ‘Man from the Pru’, a young and keen financial adviser back in the 80’s the term ‘back of a fag packet’ was used more often than not for a rough quote for whatever the client was requesting at the time, but the term has moved on now and involves napkins!

In essence it’s the same thing and it was the title of a webinar that I attended and it reminded me a little bit of the old days when things weren’t driven by inputs and outputs and explanations of this graph and that spreadsheet, you know the deal!

It was quite refreshing to hear someone talk in this style for a change, he was without powerpoint and was literally drawing on screens to explain his process, quite refreshing. Anyway he says he always asks clients 4 questions to set them thinking so I thought I’d share them with you, I bet you can’t answer them, I couldn’t!

1. How much money do you have on you now?

2. When was the last time you took money from a cash machine and what did you spend it on?

3. How much did you spend last month?

4. What do you intend to spend this month?

Now a few of the answers to these questions are a little different now compared to maybe 18 months ago but you get the idea. If we have enough money today we tend not to concern ourselves about next year or perhaps later in life, a sweeping statement I know!

There was a lot of other things he drew on multiple virtual Napkins which I quite enjoyed and perhaps will share in later musings but the simple message was get a handle on where you spend your money today, it’s too easy just to swipe and pay, I know because I do it, but some of the ‘swiping’s’ need to head towards your planning for tomorrow.

If you would like a bit of planning via napkin give us a call on 01302 244977.

This article is for information only and no advice should be conferred from the content.

Publish date: 17th June 2021

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