The power of a half-hour: Learn how short bursts of focus can transform your financial life

In a world that increasingly demands our attention, tackling even small tasks can feel challenging. Whether it’s reviewing your finances or learning a skill, you might not have the mental or physical energy to commit to new challenges.

This is where the power of a half-hour comes in. As it’s a small chunk of time and doesn’t require a great deal of commitment, you might find that it helps you to at least make a dent in your financial to-do list. This initial act of making a start, perhaps in the 30 minutes after dinner or during the kids’ nap time, could help you instil a new and transformative habit.

Here’s how to incorporate short bursts of activity into your routine and start the process of cleaning up your to-do list.

Use a 30-minute financial detox to slim down your wallet

An easy place to start could be your wallet. Start by culling old receipts, expired vouchers, and any other paper clutter you no longer need.

When getting rid of receipts, be sure you don’t need them for business expenses or tax reasons.

Beyond physical decluttering, you could also consider your digital wallets. Many banks offer platforms to consolidate loyalty cards, and Google Wallet or Apple Pay provide alternatives, too.

You can dedicate your half-hour to downloading retailer apps and adding your loyalty cards. The beauty of this is not just a lighter wallet; it means you’ll have automated access to discount vouchers within certain apps, without having to dig through your bag at the counter.

Sort out your savings to earn more interest

Perhaps one of the most impactful ways to use your half-hour is to optimise your savings. Money sitting in accounts with low interest rates could be earning far more when placed elsewhere, such as a high-yield savings account or a Stocks and Shares ISA, for example.

Here, you can speak to your financial planner in advance to get a sense of what might be the right move for you. Whether that’s putting a portion of your savings into investments or finding high-interest accounts that generate more returns on the same amount of money.

When looking for new accounts, be sure to read the fine print. Pay particular attention to the rules surrounding withdrawing or adding money later.

Take a financial snapshot of your budget

The word “budget” might conjure up images of large spreadsheets and intricate calculations. While this type of financial organisation has its place, you can also make quick, impactful changes in just 30 minutes.

This means you can transform the act of reviewing your budget from a chore into a regular, empowering habit.

For example, you could:

• Review your income and expenses. This could take just 15 minutes if you used your bank statements and credit card activity for the last month. You can quickly scan through your transactions and ensure that everything is as it should be.
• Categorise and assess. If you’re not already doing so, you could dedicate 10 minutes to categorising your spending. Some budgeting apps do this automatically, but you may need to check that categories are being assigned correctly. If you find you’re overspending in a certain area, you can take action to realign your spending with your financial goals.
• Adjust and plan. Finally, take five minutes to make quick notes about areas for improvement. If you overspent on dining out, you could aim to cook more at home in the next month.

This type of brief planning session ensures that your budget is a living document that meets your current needs and goals. Reviewing regularly means you can course-correct as needed. Moreover, regular half-hourly budget check-ins can help stop minor issues from becoming bigger financial concerns.

Set up account alerts

Log in to your online banking and credit card accounts and take a few minutes to set up important alerts. These could include notifications for:

• Large transactions
• Low balances
• Suspicious activity.

This could help provide an early warning system and help you stay on top of your spending without constant manual checks.

Check in with your insurance policies

Take 20 – 30 minutes to review your car, home, health, and life insurance policies.

Here, you can check that your cover levels are still appropriate for your circumstances. While reviewing your policies, ask yourself if any major life events warrant a refresh of your insurance. For example, if you have recently changed jobs, had a new addition to the family, or moved home, then it may be time to talk to your adviser again.

Book a meeting with your financial planner

The common thread through all these tasks is the breaking down of large, intimidating financial goals into achievable, bite-sized actions.

As part of this, you could take 30 minutes to arrange a call with your planner. Making a phone call, sending an email, or preparing your notes for your next review could make the world of difference.

While 30 minutes of personal productivity can be useful, ensuring your financial planner has all the information they need to manage your wealth could be key to a more robust, secure financial future.

Whether you’re ready to schedule a review or simply want to check in with your finances, we’re here to help.

Email enquiries@metiswealth.co.uk or call 0345 450 5670 today to find out what we can do for you.

Please note

This article is for general information only and does not constitute advice. The information is aimed at retail clients only.

All information is correct at the time of writing and is subject to change in the future.

The value of your investments (and any income from them) can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance.

Investments should be considered over the longer term and should fit in with your overall attitude to risk and financial circumstances.

Note that financial protection plans typically have no cash in value at any time and cover will cease at the end of the term. If premiums stop, then cover will lapse.

Cover is subject to terms and conditions and may have exclusions. Definitions of illnesses vary from product provider and will be explained within the policy documentation.