August 27, 2019

Have you ever carried out a SWOT analysis on your finances?

A SWOT analysis is a strategic planning technique used to help a person or organization identify strengths, weaknesses, opportunities, and threats. It is a highly effective way of improving many areas of your life, particularly your finances. 

At Blueprint Financial Planning we undertake a SWOT analysis when creating someone’s financial plan, it gives a clear, easy to understand and logical overview of a person’s current financial situation. 

An example of one such SWOT analysis I recently undertook with a recently married couple, one self employed and one a public sector employee can be seen below;


Two incomes into household

Low mortgage repayments

Public sector defined benefit pension


Self Employed income very variable

Very small rainy day fund


Early retirement an option for public servant due to years of service

Ability for access a tax free lump sum from a Buy out Bond as turning 50 soon


Sickness / injury for self employed individual as no income protection or social welfare benefits

If early retirement taken by public servant, service will be short thus tax free lump sum will be reduced.

So if you want to take an honest look at your finance and identify areas that need to be addressed a SWOT analysis may be suitable for you! 

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