Government needs more spending reform

Progress with spending and investments comes with patience and continual improvement.

08:48 23 July 2013

The government has made progress with the way it purchases necessary equipment, but a recent report shows that there is still room for improvement. The report showed that the UK has fallen behind the EU countries for securing necessary contracts.

Reforms are scheduled to continue so that processes are more streamlined and effective. One of the ways that we can ensure our investments are effective is to review portfolios and applicable information. Here are a few other steps that might help as well:

 

• Setting yield goals—when you plan your investments, you should also have an idea of the type of return you should expect, or a particular goal you’d like to achieve from your initial investment amount. When you have yield goals you can do comparisons when you check your portfolio to find out whether or not the returns are as high as you anticipated.

 

• Combining opposites—combining both high and low-risk investments gives you a more overall stable portfolio. It lets you invest in some high-yield opportunities to see significant growth over the years, while the low-risk yield gives you the protection you need to guard against potential investment losses.

 

• Flexibility—when you refer to your portfolio, you might find that one or more of your investments should change. That’s not something that you would do as soon as an investment is not performing up to standards, but if you find that the trend continues you might desire to make a change. Try to keep the investments you make for about six months as long as there is not a significant loss.

 

• Professional advice—if you review your investments and think something is lacking, or you should be getting a better rate of return, you can seek advice from a financial professional who can guide you toward the best decision for your ultimate financial plan.