Could professional financial advice help you through the cost of living crisis?

With soaring inflation and rising interest rates, many people are feeling justifiably anxious about making ends meet. That’s partly because the key triggers of the cost of living crisis are beyond our control – so it’s easy to start feeling completely helpless.

But there is something you can do – speaking to a regulated, professional financial adviser.

According to a Personal Finance Society (PFS) survey, more than one in three people feel that professional financial planning would be helpful to them in response to the cost of living crisis.

There’s certainly lots of truth in that, as a professional financial planner can review your finances, offer advice and help you make positive changes.

That can put you in a much stronger position to weather this economic storm, while at the same time, make your money work harder for you, put you in control of your finances and help you work towards achieving your long-term lifestyle and financial goals.

It could also have a big impact on your mental health at a time when your anxieties may be running high.

Simply knowing that you’re having a specialist working in your best interests can make a huge difference to your state of mind, as it lessens the burden on your shoulders and helps you move forwards with more confidence.

According to the PFS study, more than one in four people in the UK have experienced feelings of depression as a result of rising living costs.

Interestingly, the survey also revealed that younger people are feeling much more worried than their older counterparts, which may reflect their different financial circumstances, and the likelihood of them having quite different lifestyle goals and aspirations.

Some 76 per cent of 25 to 34-year-olds said rising bills are making them anxious, compared with just 26 per cent of over-65s, and millennials were also found to be far more worried about the cost of housing than older people.

Getting to grips with your finances, even at the best of times, can feel like an overwhelming task, so it’s understandable that you may feel particularly powerless to do anything as the cost of living crisis bites.

But a professional financial planner can take an objective and informed look at your financial situation, using their knowledge and expertise of the market to give you the best possible advice.

They’ll work with you to identify your priorities, circumstances and aspirations, and put together a financial plan with that firmly in mind.

While the headlines are undeniably worrying and the economic climate looks grim, that doesn’t mean you should just sit back and let things happen to you. If you have a chance to strengthen your position and make your finances more resilient in the face of tough economic headwinds, you should certainly take it.

If you feel you could benefit from professional financial advice, please don’t hesitate to get in touch, and we’ll be happy to speak with you.

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The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK. Welby is a trading name of Welby Associates Wealth Management Ltd Company Registered Number NI630504 who is authorised and regulated by the Financial Conduct Authority, FCA register number 697372. The Financial Ombudsman Service is available to sort out individual complaints that clients and financial services businesses aren't able to resolve themselves. To contact the Financial Ombudsman Service please visit

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