Are you unhappy with progress towards your financial goals? Do you have a good income but little to show for it? Many people who have very good incomes still feel under pressure when large bills arrive.
This ‘hand to mouth’ type of existence often prevents people, even those with very good incomes, from working towards their longer term objectives like accumulating wealth and funding for retirement.
This is entirely unnecessary if your finances are structured correctly.
Why Good Budgeting Is the Foundation of Wealth
Most people think of budgeting as a restriction – a list of things they can’t spend money on. We take the opposite view. A properly structured household budget is the mechanism that allows you to optimise your finances, to enjoy your life today while systematically building wealth for the future. Without it, even households which have two good incomes can find themselves living month to month without purpose or direction.
The Problem: Good Income, Little to Show For It
If you earn a good salary but find yourself stressed when large bills arrive, or feel like money just disappears every month, the problem is almost certainly structural rather than behavioural. The income is there; it just isn’t being directed anywhere with intent. This is one of the most common situations we encounter, and it is entirely correctable.
How a Financial Planner Approaches Household Budgeting
We begin with a detailed fact-find using our CashCalc platform – gathering your income, expenditure, existing financial products, and your goals. From there we build a personalised budgeting system that gives you full visibility over your finances and manages itself, so that large bills no longer arrive as a shock and your money is consistently directed towards your goals. We don’t tell you what you should or shouldn’t spend your money on – that’s your business. What we give you is a framework that makes your finances easier to manage and removes the anxiety that comes with living without a plan.
Cashflow Modelling: Seeing Your Financial Future Clearly
We use Voyant, one of Ireland’s leading cashflow modelling platforms, to show you graphically where your finances are headed. If the projection shows a gap between where you are and where you want to be, we map out the steps to close it – and we show you what the graph looks like if you take those steps. Seeing the numbers change in real time is one of the most powerful motivators for people to act.
Find out more about Voyant in this video.
Our recent article in The Sunday Times illustrates the benefits of Holistic Financial Planning (bottom of page)
How We Are Different
How We Are Different
About Financial Planning
Financial Planning is about aligning your money with your goals. It means deciding what it is you want to achieve in the future and ensuring that your finances are structured optimally and efficiently so that you arrive at each event in your life with the resources you need to fulfil your objectives.
When we model your cashflows we can determine if you are on course to achieve your future objectives. If the graph shows that you aren’t currently on course we’ll give you a step plan of actions to help you to close the gap and show you how the graph changes if you implement these. This can be a powerful tool in motivating you to take the actions which are required to achieve your financial goals.
The service doesn’t stop there. Research by the investment management company Vanguard has shown that investors who have the guidance of an adviser can achieve investment return of up to 3% per year more than unadvised clients. We can be an ongoing resource for you as you work towards achieving your objectives.
Many of our clients tell us that they feel that what they have been getting is sales, and they want advice. Talk to us today about getting real advice.
Frequently Asked Questions
What is household budgeting advice and do I need a financial planner for it?
Household budgeting advice involves reviewing your income and expenditure, identifying inefficiencies, and structuring your finances so that money is directed towards your goals rather than disappearing without purpose. A financial planner integrates your budget with longer-term objectives — pension contributions, college funding, mortgage repayments, investments — so that every euro is working as hard as possible for you.
I earn a good salary but always seem to be broke by the end of the month. Is that normal?
It is very common, but it is not inevitable. In most cases, the problem is structural: money is arriving and leaving without a plan. High earners are just as vulnerable to this as anyone else, sometimes more so because lifestyle expenditure tends to expand with income. A financial planner can help you restructure so that savings and investments are funded automatically before discretionary spending takes over.
What is cashflow modelling and how does it help with budgeting?
Cashflow modelling uses software to project your income, expenditure, savings, and assets forward over your lifetime. It shows you whether your current financial behaviour will deliver the future you want, or whether there is a gap. For budgeting purposes, it is invaluable: you can see immediately what happens to your long-term position if you redirect a certain amount each month into savings or a pension. Highfield Financial Planning uses Voyant for cashflow modelling.
How much does household budgeting advice cost?
At Highfield Financial Planning, we offer an initial consultation free of charge. We will discuss your situation, explain what we do, and give you a sense of what a financial plan would involve. Fee-based financial planning is transparent: you know what you are paying for, and there is no pressure to purchase a financial product in order for us to be remunerated.
Is budgeting advice only for people who are in financial difficulty?
Not at all. The majority of clients who come to us for budgeting and cashflow advice are financially comfortable – however many high earners feel that they don’t have much to show for all their hard work. Getting structured financial advice is a proactive step, not a sign of financial distress. In fact, the earlier you engage with proper financial planning, the more options you have.
What is the difference between budgeting advice and a financial plan?
Budgeting advice focuses on your current income and expenditure – making sure your monthly finances are structured efficiently. A full financial plan takes a broader, longer-term view: it considers your goals at every life stage, integrates pensions, investments, protection, and tax planning, and maps out a route to achieve them. Household budgeting is the foundation of a good financial plan; the two are deeply connected.
Can a financial planner help me save for something specific, like a house deposit or my children’s education?
Yes. Once we understand your goals and timeline, we can calculate exactly how much you need to set aside each month – adjusted for inflation and realistic investment returns – to reach your target. We can also advise on the most tax-efficient structures for saving, which matters particularly for medium and long-term goals.
Will I have to cut back on my lifestyle to follow your advice?
No. We don’t tell you what you should or shouldn’t spend your money on. What we provide is a budgeting system that gives you full visibility over your finances and ensures your money is consistently directed towards your goals. In many cases, restructuring your finances can help you to achieve your goals without any lifestyle change at all.
How do I know if my current financial products are suitable?
Many people have pensions, life assurance policies, or savings products that were sold to them by someone operating on a commission basis. This creates an inherent conflict of interest. As a financial planning firm, we have no vested interest in recommending any particular product. We review what you have, assess whether it is fit for purpose, and advise you accordingly.
How do I get started with Highfield Financial Planning?
The easiest way is to book a free, no-obligation video call using the button in the top right of this page. You can also call us on 01 546 1100, email us, or complete our contact form. If you’d prefer to start the process immediately, you can complete our online factfind to tell us about your situation and objectives by clicking on Self-Onboarding at the bottom of the page.
CONTACT US
By Telephone 01 546 1100
Use the Form on this Page
Email to [email protected]
Book a Zoom call with us here.
Happy to start the process? Click here to complete a factfind and tell us your objectives
The material and information contained on this website is for general information purposes only. Neither the writer nor Highfield Financial Planning Ltd makes any warranty as to the completeness, accuracy or reliability of the information or the suitability or availability of products or services, referred to on the website, for any purpose. You should not rely on any information contained on this website as a basis for making any financial, legal, taxation or other decision. The information presented does not include all the considerations which are relevant to the topic discussed as to do so would render it un-readable. When considering any financial issue you should seek the advice of a suitably qualified adviser.
BOOK A FREE NO-OBLIGATION CHAT
By Telephone 01 546 1100
Use the Form on this Page
Email to [email protected]
Book a Zoom call with us here.
Happy to start the process? Click here to complete a factfind and tell us your objectives
The material and information contained on this website is for general information purposes only. Neither the writer nor Highfield Financial Planning Ltd makes any warranty as to the completeness, accuracy or reliability of the information or the suitability or availability of products or services, referred to on the website, for any purpose. You should not rely on any information contained on this website as a basis for making any financial, legal, taxation or other decision. The information presented does not include all the considerations which are relevant to the topic discussed as to do so would render it un-readable. When considering any financial issue you should seek the advice of a suitably qualified adviser.
Highfield Financial Planning in the Media
The Sunday Times
In the sport of target pistol shooting there is a saying, “slow is smooth, smooth is fast”, which refers to the way to approach drawing and firing a pistol quickly and accurately. The learner shooter who focuses on practising the correct technique slowly, only building in speed later, will win the day nine times out of ten.
The Sunday Independent
A pension is a term that can seem distant to many, especially if you’re at the beginning of your career. But it is a vital part of long-term financial planning, designed to provide you with a source of income in your retirement years. As the pension landscape continues to evolve, understanding the fundamentals and staying informed about the changes is crucial. So, what do you need to know?
The Sunday Times
I have been sitting on about €140,000 in my current account for the past year. It’s what was left over when I sold a property. I keep reading about inflation and how banks are paying no interest and might start paying negative interest, and so on.
The Sunday Times
Would-be investors have a difficult decision to make when considering their options. If they are going to increase their wealth, they will need, at a minimum, to beat inflation and whatever they are paying in charges.
Business Post
If you’re at the beginning of your working life or are simply new to pensions, we look at what you need to know
The Sunday Times
The phrase “Morton’s fork” can be traced back to the time of King Henry VII in the 15th century, when John Morton, then the Archbishop of Canterbury and lord chancellor, rationalised that a tax levied by the king was just.
Sunday Independent
Q I HAVE €150,000 which I want to invest for between 10 and 15 years — with a view to using it to fund my retirement in the future. I’m 50 years old. I am interested in property investment and had considered using the lump sum to buy a property outright.
The Sunday Times
If I asked 10 people on the street how long they thought pensions had existed, what do you think they would say? Since the 1960s, the formation of the state, or Victorian times?
Business Post
No matter how far away you are from retirement, it is always a good time to start a pension or to build up your contributions. And the tax benefits are considerable, writes Siobhán Maguire
Sunday Business Post
The area of pension guidance can be a minefield, but it’s one which Highfield Financial Planning is happy to negotiate for its clients
Sunday Business Post
Eoghan Gavigan, a specialist investment adviser and certified financial planner at Highfield Financial Planning, has advice for those looking to start a pension, writes Siobhán Maguire
About Highfield Financial Planning
We provide superior advice on Financial Planning services to business owners, professionals and their families. The principal of the firm Eoghan Gavigan has over 29 years’ experience in banking and finance across Treasury, Lending and Wealth Management and is a Qualified Financial Adviser (QFA) and a Certified Financial Planner (CFP). The CFP qualification is the world’s most respected industry designation, held by only a select number of advisers. As Specialist Investment Advisers we can provide you with detailed investment advice on your pensions and investments.
We want you to be comfortable in your dealings with us. We provide a number of suggestions here for ways that you may be able to obtain comfort that we are the right Financial Planner for you.
Our Process
Why We Changed Our Business To Focus On Financial Planning
Having been involved in Financial Services for over 29 years our experience is that most people feel that they aren’t well served by the traditional financial advice model. Commission based sales creates a huge conflict of interest as in order for a financial adviser to be paid for his work he must sell you a financial product.
Many people who approach us for financial planning services tell us that they feel that what they have been getting is sales, and they want advice.
Our most successful clients use Financial Planning to manage their finances and accumulate wealth. Studies have shown that people who engage in Financial Planning are more on track with their financial affairs and have higher net worths.
Who Is Financial Planning Suitable For?
- You own your own home or are planning to purchase a home soon
- You have surplus income (although you may well feel that it is not being used optimally)
- You may have financial products (pensions, life assurance, investments etc) but they were sold to you by someone who had a target to achieve
- You are interested in developing a cohesive plan to achieve your financial objectives
Want to hear more?
Make contact today and we’ll tell you more about the kind of work we do.
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