Hartlepool-born Harrison Smith is a financial adviser based in his hometown’s Greenbank business centre and is associated with Emerald Associates. Harrison offers an insight into money matters in an exclusive monthly column for North East Connected.
With Christmas approaching, it’s always a good time to reflect on the year just gone. This year, as I look back on my monthly columns, I’m struck by how quickly things can change.
In January, we looked forward to the year and discussed how you should look to get into good habits, both financially and otherwise.
Selfishly, my focus would be whether or not you have improved your financial situation, but have you achieved any of your other long-term goals? What did they look like?
My own personal intention at the start of 2024 had nothing to do with finance, except for raising money for charity. My goal was to get fitter.
As I sit here now in my office at Greenbank, 12 months later, I’m stepping into Christmas some 16lbs lighter than I was in January having run my first half marathon at the Great North Run, and I have a very different perspective on lifestyle habits.
My way to unwind was always to go out and have a couple of pints. That was the release from work and everything else going on in the world I thought I needed. I have, though, found other ways to channel that release and I have so much more energy.
You are now more likely to find me in a Starbucks at Green Street, Hartlepool, rather than my local Tall Ships public house! A black coffee is now more regular than a black Guinness.
Having lost that amount of weight, more than a stone, I do feel more energised, more comfortable in my clothes, and I actually enjoy looking at photographs now! That reminds me, I’m due some new ones (see above)!
Honestly speaking, it is the first time that I have set a target in January, and I achieved it, even if it wasn’t a straight line all the way to get there.
Having got there in the end, I wouldn’t say it is the end of my new approach either. I can’t just go back to my old ways and expect things to be the same.
I am now ready for the next target; I want to build on that one. I might not be signing up for another half marathon any time soon, but I’ll certainly be thinking about fresh opportunities.
I know for a fact my friend, Bryn Fox, has similar feelings to me, having been on a similar journey to get through the Great North Run with me because he wasn’t strong on sticking to resolutions either.
What I would say is that it is so much easier to have someone else holding you to account as you go. We found that if you can share your targets with someone, drive each other on and push forward, it really helps.
This principle of accountability applies not just to personal goals, but also to financial ones. I share very similar journeys with my clients.
Where Bryn held me accountable, I do that with my clients. It is easy when you are left to your own devices to divert. However, if someone is there to guide you through, then it makes it easier.
Over the last 12 months I’ve heard how someone has gone from a position of no savings to having a sustainable emergency budget and a much-strengthened financial position.
Most people think a financial adviser is here to purely advise them on their retirement planning, but there are many more aspects to it than that.
There have been countless conversations this year with people, not about their longer-term positions, but more about getting things to start right and making changes to make a difference.
I might not have made those people into a millionaire overnight but it’s worthwhile and notable that the changes that they have made over the last 12 months are starting to pay dividends in everyday life.
Reflection is always important. You will make mistakes, and you will not always get things right. Without reflection, though, how will you learn from those mistakes?
What are your goals for the new year? Don’t be afraid to share them with someone who can support you on your journey.
Have a good Christmas and see you all in January for 2025.
*For further information or to book an appointment with Harrison check out his adviser
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