(Score Yourself and See)
We all want to feel in control of our finances, but even the most switched-on people make money mistakes without realising. In 2025, with tax rules shifting, markets wobbling, and pensions facing new rules, it’s a great time for a personal finance check-in.
Here’s how it works:
Read each statement below. If it applies to you, give yourself 1 point. Tally up your score at the end and see whether you’re in good shape or due a financial refresh.
1. You Haven’t Looked at Your Pension in Over a Year
Pensions can feel like a “future you” problem, but they’re one of the most powerful tools you have for long-term planning and tax efficiency. Proposed changes to pension rules in recent government announcements, such as the removal of the Lifetime Allowance and discussions around inheritance treatment, may have implications in the years ahead.
While there’s currently no confirmed change to how pension assets are taxed on death, especially before 2027, many experts believe reforms could be on the horizon. It’s worth reviewing your setup, especially if you’ve not checked beneficiary nominations or how your pension sits within your estate planning.
2. You Don’t Use Your Full ISA Allowance
Every adult in the UK can invest or save up to £20,000 each year in ISAs and any growth is free from tax. But many people don’t use their allowance, or they only use Cash ISAs without exploring Stocks & Shares ISAs, which can offer better long-term growth.
If your ISA is sitting idle or you’re not sure how it fits into your overall plan, this could be a missed opportunity.
3. You’re Not Properly Protected
Life is certainly unpredictable at the best of times. Anything can happen, like illness, job loss, or an unexpected event. These things can all impact your finances and if you’ve got no protection, you could be left exposed.
Think to yourself, “Do I have life insurance, income protection, or critical illness cover?”. Probably more importantly, ask yourself if you have checked up on your protection in recent years, especially if your situation has changed. If the answer is no, it might be time to revisit your safety net.
4. You Try to ‘Time’ the Market
If you’ve ever moved money in or out of an investment based on a news headline or gut feeling, you’re not alone. But reacting emotionally to market movements can often do more harm than good.
Staying invested through ups and downs, with a plan that matches your goals and risk comfort, tends to lead to better results over time. Timing the market rarely works, but planning for the long term usually does.
5. You Haven’t Considered Estate Planning
Many people assume inheritance tax (IHT) won’t apply to them, but rising property prices and growing pension pots mean more estates are now being caught by the IHT net.
While pensions have traditionally been outside the scope of IHT, especially when structured with nominated beneficiaries or placed in trust, there’s increasing speculation about future tax changes. Recent discussions in government and the wider financial industry have hinted at potential reforms, including how pensions are treated for IHT purposes.
With this uncertainty, it’s more important than ever to stay informed and review your estate planning regularly. Taking proactive steps now can help ensure your wealth is passed on according to your wishes, and as tax-efficiently as possible.
6. You’re Not Taking Financial Advice
Trying to manage everything alone can feel empowering, until it gets complicated. From tax changes to investment options, pensions to protection, it’s hard to stay on top of it all.
If you haven’t had a financial review with a qualified adviser in the last year or two, you might be missing valuable guidance tailored to your situation.
Your Scorecard
- 0–1 points – You’re doing really well. Keep it up!
- 2–3 points – A few areas to improve. A little advice could go a long way.
- 4–6 points – You’re due a review. Some timely changes now could save you money and stress later.
Let’s Fix What’s Fixable
Most financial mistakes are easy to correct once you know they’re there. Whether you’ve ticked one box or all six, the best next step is a conversation with someone who understands the full picture.
Call our team on 020 8366 4400 or email enquiries@cedarhfs.co.uk to book your personal review.