This time last week I was out on the road, deep in the Spanish countryside, as part of a 3,000 mile trip with a group of 20 other like-minded driving enthusiasts organised by Petrolhead Tours. The trip had been booked months previous, but we had assumed it would be cancelled given the Coronavirus situation. However, with restrictions and quarantine rules lifting just at the right time we were able to proceed, albeit by the skin of our teeth and with a healthy dose of caution as we were unsure of quite what to expect…
Adventures in Spain Provide Covid Insights
Throughout the Coronavirus crisis and the subsequent recovery, the British media seem to have been hell-bent on telling us that the world is falling apart. However, the reality - in Spain at least - is that things appear to be getting back to business as usual, albeit with the mandating of face coverings and hand sanitiser dispensers liberally dotted around hotels and restaurants. It was reassuring to see a country that seems to be healing and returning to normal life, which pleasingly also seems to be taking place here in the UK.
Like many of our own clients, attendees on the tours are usually either professionals or company directors. Speaking with my tour-mates in a relaxed setting around the dinner table in the evenings gave more insight into how different businesses are faring in the wake of the Covid crisis.
Whilst all have been affected in one way or another and have needed to adapt, the common theme among those I spoke with was one of cautious optimism. Many have either seen a boost to their businesses during Covid, or are benefitting from the release of pent up demand now that lockdown measures are easing. I am hearing similar stories from many of our own clients. It is reassuring to hear that businesses seem to be emerging from the Coronvirus pandemic intact and ready to face the new challenges that lie ahead, as the country and the economy begins the rebuilding process.
Plan to Keep Doing What You Love
I love these driving tours and they have become a key part of my life. Waking up in beautiful hotels with incredible views, having amazing (and often hilarious) unscripted adventures out on the road and spending a week with interesting people is both rejuvenating and inspiring. I always seem to come back richer for the experience, with new perspectives on life and business.
Like many hobbies, mine takes time and money to enjoy. Budgeting for the cost of these tours to ensure they can be a regular feature in my life is all included in my own financial plan. Using our cashflow modelling software helps me allocate my money effectively, enabling me to balance enjoying my passions in the here-and-now, whilst also saving for the future and ensuring my long term goals remain on track.
A good financial plan creates a road map as to how to create and maintain the lifestyle you want. The mantra ‘live for today, plan for tomorrow, do what you love’ runs through our business and I find it is the ‘do what you love’ part that often gets missed by traditional financial advice, which seems to focus only on the accumulation of capital and performance of investments.
Whilst helping you build your wealth is a big part of what we do, looking at how you can spend and enjoy your money is also key. If there are activities that you enjoy, travel plans you wish to make, or aspirations that you hold, let’s talk about them and ensure they are woven into your financial plan. After all money itself is worthless in isolation, it’s what we do with it that gives it value…
On that note I’ll close for now and wish you a pleasant weekend. If your next scheduled financial review is coming up soon then we look forward to seeing you. Alternatively if it is still some way off and you would like to revisit your financial plan, check your progress, or plan for any new goals, just let us know and we will set up an ad-hoc Zoom meeting to do so.
