Significant tax and benefit changes took place on 5 April and people have been left wondering if they are better or worse off as a result.

In addition, we have to factor in the rise in the general cost of living, with increasing food and fuel costs, all of which has a negative impact. This has left many of us feeling financial pressure.

There have also been numerous changes in pension legislation and although most of these changes are positive, it may be worthwhile checking to see if they will have an impact on our future financial planning.

Some of the key changes in pensions include a reduction of contributions levels that qualify for tax relief, the end of compulsion to buy an annuity at age 75 and a number of changes affecting income drawdown clients.

Everyone wants to be better off and aim for financial security, and to enjoy life as best we can.

This calls for a balance between spending and saving, reducing debt and planning for the future – all combining to be a complicated challenge. With less job security, stagnant property prices, rising divorce rates, and pressures on pensions, it may leave many people wondering how to plan for a secure future.

Good, independent financial advice can be invaluable to help you focus on your individual needs and prepare a workable financial plan focusing on your future. This should be an ongoing process that reflects changes in your circumstances and can adjust when necessary – as things don’t always go to plan.

Speak to your adviser today.