• Take stock of your personal finances before the winter months.
• Plan for energy costs, festive spending, and rising bills.
• Start saving now for 2026
• Build habits to support your financial wellbeing all year round
• Consider writing or updating your Will

Planning for Peace of Mind

As the days grow shorter and the year draws to a close, many dental professionals find themselves juggling increasing professional pressures alongside rising business and household costs. Preparing for winter is the perfect moment to pause, take stock, and put some practical financial plans in place.

With the Autumn Budget on 26 November fast approaching, many of us are wondering how it might affect our finances. However, with a little forward thinking, you can prepare for any surprises and build stronger financial foundations for yourself, your family, and your future.

The winter months can be both busy and expensive. Heating bills rise, festive spending adds up, and unexpected costs often appear just when things feel tightest. But with a few simple steps, you can manage your money confidently, reduce stress, and set yourself up for a brighter start to the new year.

Here are 6 simple steps to get you started.

1. Review

Good financial planning starts with understanding your current position. Take a clear look at your income, regular outgoings, and what’s left at the end of each month. This might sound simple, but it’s often the first step many of us overlook. Application forms to the Charity for financial support start with this for this very purpose.

• Check your budget: Go through bank statements or use a budgeting app to see where your money is going.
• Review both professional and personal expenses to gain a clear understanding of your commitments, both personally and professionally. Are there subscriptions or memberships you no longer use?
• Consider: if you are out of contract with anything (your phone, TV packages, etc), now is a good time to see if you can get it cheaper or stop it if you don’t need it.
• Insurance review: Use this time to review your policies, particularly those that are coming up for renewal. Look at home and life insurance, professional indemnity, and income protection. Are you adequately covered, or paying for cover you no longer need? Make sure you’re not duplicating cover on different policies, for example, having mobile phone or boiler insurance that may already be covered on your home insurance.

2. Prepare

Winter often brings higher costs and tighter budgets. Planning helps avoid last-minute financial stress.

• Energy bills: Check whether you’re on the best tariff and explore small energy-saving changes. Even simple steps, such as turning down the thermostat a little, switching to LED lighting, or improving insulation, can make a significant difference.
• Seasonal expenses: Think about the activities coming up that you might want or need to spend extra on, such as gifts for festivities and family, travel, and social events. Creating a budget and setting aside a small weekly amount towards it in advance can prevent overspending later on.

By tackling these tasks early, you can go into winter with greater confidence and fewer financial surprises.

3. Look Ahead

It’s tempting to think only about the next few months, but sustainable financial wellbeing means thinking longer term.

• Plan for unforeseen situations. Putting aside funds the equivalent of 3 or even 6 months’ income ensures you have a backup plan should something unexpected happen.
• Think about holidays and breaks: Dentists work hard under high pressure and time away is essential for mental health. Consider setting up a small monthly standing order into a “holiday fund” account. Even £50 a month adds up over time.
• Top up your pension: If you can, make additional pension contributions before the tax year ends. This not only boosts your future security but can also reduce your tax bill.
• Invest in your growth: Allocate funds for professional development or training that supports your career goals. Seeing this as an investment, not a cost, can make it easier to prioritise.

A little foresight now can mean greater freedom and flexibility next year.

4. Plan for Life’s ‘What-Ifs’

Money management should include protecting yourself and your loved ones.

• Write or update your Will: Many people put this off, but a valid, up-to-date Will ensures your wishes are followed and reduces stress for your family. We have a limited offer for our supporters for you to write or update your Will for free using the Will writing service, in partnership with Farewill to help make this easier for you. There’s absolutely no excuse not to get started!

Write Your Will for Free

• Consider lasting power of attorney: It’s a difficult topic, but appointing someone you trust to make financial or medical decisions if you’re ever unable to do so is a key part of responsible planning.
• Review your dependants’ needs: If you have children or other dependants, check your life insurance and savings provisions are still appropriate.
• Review your professional commitments: Is it clear what will happen with your business affairs if you are a practice owner? Do you have clear succession plans in place?

Good financial planning should include protecting people and the things that matter most to you.

5. Keep Calm and Plan Ahead

It’s easy to feel overwhelmed when thinking about finances, especially with changing costs and the uncertainty around the Autumn Budget. Yet, small, consistent actions can make a big difference over time.

Try setting aside an hour every few months to review your budget, savings, and goals. This regular check-in can help you spot problems early and stay on track.

And if you’re finding things difficult don’t hesitate to ask for help.

Financial Support

Wellbeing Support

6. Where to Find Support

There are organisations ready to support dentists and their families who are facing financial challenges or simply need guidance.

• BDA Benevolent Fund: we provide confidential financial and wellbeing support for dental students, dentists and their dependants across the UK.
• Dentists’ Health Support Trust: making life better for dentists with mental health concerns and addiction issues.
• MoneyHelper:  offers free, impartial advice on budgeting, pensions, and debt management.

Counselling

Asking for help is a sign of strength and can often be the first step toward rebuilding financial confidence.

Get in touch

By taking small, practical steps now, from reviewing your budget to writing or updating your Will,  you’ll be better prepared for whatever the months ahead may bring.

Good financial planning is about gaining control, setting priorities, as well as thinking about the future you want, and how to get there.

So, as you prepare for the end of the year, take a moment to check in on your finances.

 You may find that the peace of mind it brings is the best gift you can give yourself this winter.