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9Money MattersApril 1-7, 2013United Kingdom Edition Now Even Better Lisa Fast Vacuum Sterilizer If you feel the need for speed we have the answer All the benefits of a Lisa but now even faster, with a quick cycle time of only 14 minutes. W&H (UK) Ltd, 6 Stroud Wood t +44 (0) 1727 874 990 Business Centre, Park Street f +44 (0) 1727 874 628 St Albans AL2 2NJ UK marketing.uk@wh.com wh.com W ith so much to be con- sidered, trying to get ahead financially can be exhausting. It seems that dentistry has become as much about business as it has about providing a committed clinical service. So it is vital that dentists take monetary matters serious- ly, as skill and hard work are no longer enough to prosper. Gen- erally speaking, financial suc- cess is not just about making the right fiscal decisions, but more a case of not making the wrong ones. In order to succeed finan- cially there are many aspects which need to be considered. Where is your money going? It may sound like the obvious thing to do, but the only way to gain a firm understanding of your financial situation is to first assess exactly what your money is being spent on. As with so many things, the key to financial success is through careful planning. A lack of preparation could potentially lead to hundreds if not thou- sands of pounds being wasted. A simple and effective way of keeping an eye on where your money goes is to look through your bank statement each month, listing all major outgo- ings. Once you have a reason- able idea of how your money is being spent, you should seek to review your financial situation regularly. When you know where your money is go- ing, it is much easier to direct it into the places that it should be going. However, decid- ing where to put your money is still no easy task, so it is worthwhile to seek the assis- tance of a skilled Independent Financial Adviser (IFA). Where should your money be going? No matter what the percent- age of your income that you decide to invest, it has to be in- vested in a way that suits you. With an array of different in- vestment opportunities availa- ble, choosing which one to use can be a tricky decision. The first thing to consider is what your own individual circum- stances are and the amount of money that you are able to in- vest. These factors will impact upon which route will be most beneficial to you. For exam- ple, ISAs can be a remarkably effective way of building up long term tax efficient savings for someone who is looking to invest using a combination of monetary and share options. Planning for the future Looking to the future is essen- tial when embarking on any kind of investment opportu- nity. A dentist whose focus is secured firmly on the present is less likely to make the right Planning for the future Richard Lishman discusses ways to keep your finances straight ‘It may sound like the obvious thing to do, but the only way to gain a firm understanding of your financial situ- ation is to first as- sess exactly what your money is being spent on’ page 10DTà