A stitch in time saves nine

"A stitch in time saves nine." We’ve all heard it. Maybe it's whispered gently by a grandparent to a child who’s walked away from their mess. Maybe it’s said firmly between spouses eyeing a leaky drain. Or perhaps it's spoken with loving exasperation by a parent, hearing strange noises from their child’s first car - and agreeing to foot the repair bill. Yes, we've all heard it — but how many of us live by it?

First coined by Thomas Fuller in his 1723 book of proverbs, the phrase originally urged people to mend small tears in clothing promptly, preventing them from becoming bigger, costlier problems. Today, it’s a popular reminder that procrastinating on any issue usually makes it worse. So, how can this timeless advice help us manage our finances?

I’m only 25, do I really need to have a financial plan?

The short answer is yes. Whether you’re 16 or 60, a financial plan can help you take measured and considered steps towards a successful financial future, set realistic goals and make informed life decisions. Life is unpredictable, and a good financial plan will support you through its inevitable ups and downs.

• Reach your goals, not someone else’s: A financial plan gives you the framework to stop comparing yourself to others and start working towards what you want, whether that’s starting a business, buying a home, or even exploring the world, a financial plan will help you get there.
• Reduce stress: Financial uncertainty is a common cause of stress and anxiety. But it’s not a necessary burden to shoulder. Whether it's through open conversations with trusted friends or self-education, taking small steps to understand and manage your finances can have a big impact on your peace of mind.
• Establish a solid foundation: With a clear financial strategy, you can prioritise spending, build emergency savings, and plan for long-term goals like homeownership, retirement, or further education. A strong plan reduces the risk of falling into debt or missing valuable financial opportunities. Getting your children set up with a junior ISA, for example, can help teach them the importance of saving from a young age.
• Build financial discipline: Budgeting, tracking expenses and saving are all key financial muscles. And like with any muscle, they take time and dedication to build. While seemingly unimportant in your twenties, these skills, when developed early, lead to informed decision-making and reduce the risk of financial pitfalls when you have big financial decisions to make.
• Plan for the unexpected: A financial plan helps you build emergency savings for unforeseen costs. Protection planning is a great way to ensure you don’t have to make rash decisions in a crisis.
• Start retirement planning: Retirement might feel distant, but starting early gives your investments time to grow. The earlier you contribute to a pension, the better; even modest contributions now can lead to a more secure retirement later.
• Be a role model: Good habits spread. Setting a positive example helps your family to build their own financial confidence.

I’m a senior professional approaching 50. Have I already left my financial planning too late?

Absolutely not. In fact, did you know there is actually a second half of Fuller’s proverb which is often forgotten:

“While a stitch in time may save nine, many a little makes a mickle"

Mickle is an old English word which was often used to describe something that was ‘large’ or ‘greater in size.  With this, Fuller explains that many small efforts can make a difference. So, whatever stage you’re currently at, you can start implementing small changes today that will result in big differences in the future.

Turning 50 is often a key trigger that prompts more serious thinking about retirement planning, tax efficiency, or intergenerational wealth management, it is not uncommon to see successful people reach this stage of life without having fully addressed their long-term financial strategy.

While earlier planning gives you more time and flexibility, it’s never too late to make a difference. With professional guidance, you can build a bespoke financial plan to support your goals; from income drawdown schemes to gifting strategies and estate planning.

Being bereaved or divorced are clearly highly stressful situations; while they’re obvious triggers for reviewing your financial situation, is this a good time to start taking control of your finances?

There’s no easy time to experience a major life change. And when bereavement or divorce hits, it can be hard to make big decisions. That’s why we advocate for early, proactive planning. With a plan in place before crisis strikes, you can reduce the emotional and financial strain.

If you haven’t yet built a financial safety net, it’s never too late to start. Look for a financial adviser who takes an empathetic, collaborative approach. At Amanda Redman Financial Planning, we understand that life changes can be overwhelming, and we support clients through major transitions such as divorce or bereavement.

Are there other advantages to taking a more proactive approach to my financial future?

Without a doubt. The earlier you take control, the greater your flexibility, security, and potential growth.

• Compound growth: The magic of compounding is well-documented. For example, saving £100 per month from age 20 could grow to around £180,000 by retirement (assuming 7% annual return), compared to around £125,000 if you start at 30. The earlier your investments are working for you, the more powerful the results*.
• Planning for bumps in the road: Whether it’s a job loss, a health crisis, or a global pandemic, proactive planning means you can weather surprises without derailing your goals.
• See the full picture: Trying to manage your finances solo is possible; but it’s time-consuming and can leave you exposed. Working with a specialist financial planner ensures all aspects of your financial life: tax, pension, investment, estate planning, and protection, are considered together, helping you build wealth with confidence.

It’s your life, your goals, your journey. But with an expert Partner or Adviser guiding you, the path becomes clearer and more secure.

How should I go about taking proactive control of my finances?

While you can begin independently, financial planning is complex. From tax efficiency to inheritance planning, pulling together the full picture can be overwhelming.

That’s where a professional planner comes in. Think of us as your financial Sat Nav: you tell us where you want to go, and we help you choose the most efficient, least risky route. Whether you’re just starting out or already on your way, we’ll help you stay on course.

A good financial plan gives you confidence, clarity and control, whatever stage of life you’re at.

If you would like to work with an expert, regulated, collaborative financial planner, we are happy to offer an initial no-obligation consultation – call 01732 449 799 to book your appointment.

Based in Tonbridge and West Sussex, Amanda Redman Financial Planning supports clients across Kent, Sussex, Surrey and Greater London.

The value of an investment with St. James's Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested.

*These figures are examples only and they are not guaranteed. They are not minimum and maximum amounts. What you get back depends on how your investment grows and the tax treatment of the investment. You could get back more or less than this. 

Although the content of the article was correct at the time of writing, the accuracy of the information should not be relied upon, as it may have been subject to subsequent tax, legislative or event changes.