The figures featured on UK banknotes could soon look very different. Indeed, the BBC reports that the Bank of England (BoE) decided to replace historical figures with British wildlife on the next series of notes.
From 3 June to 3 July, you can vote for up to six of your favourites from a shortlist on the BoE website.
Interestingly, some animal behaviours can even offer useful lessons about how you manage your wealth.
Of course, animals aren’t building pension funds or managing investment portfolios. Still, many of their instincts have clear parallels with financial planning.
So, continue reading to learn what five British animal behaviours could teach you about your own finances.
1. Squirrels and the importance of preparing for the future
Squirrels are well known for storing their food ahead of winter, a behaviour known as “caching”.
Rather than waiting for conditions to become difficult, they gather nuts and seeds when food is readily available and then hide them in various locations to return to later.
According to Scientific American, a single squirrel can bury up to 3,000 nuts in a season.
The financial lesson here is that it’s much easier to prepare for future needs gradually while you have time and income on your side than to wait until the need becomes urgent.
This could apply to several areas of your financial plan, such as:
- Building an emergency fund
- Increasing pension contributions
- Saving for future care costs
- Setting money aside for children or grandchildren.
Importantly, squirrels don’t store their hoard in one place. They spread it across different caches.
This is similar to not relying on a single source of wealth. Your pensions, ISAs, investments, cash savings, and property may all play different roles in your life.
A well-structured plan can help ensure your wealth is available when you need it, rather than leaving you exposed if one aspect of your finances doesn’t perform as expected.
A pension is a long-term investment not normally accessible until 55 (57 from April 2028). The fund value may fluctuate and may go down, which would affect the level of pension benefits available. Past performance is not a reliable indicator of future performance.
The tax implications of pension withdrawals will be based on your individual circumstances. Thresholds, percentage rates, and tax legislation may change in subsequent Finance Acts.
2. Magpies and avoiding chasing every “shiny” opportunity
Magpies have long been associated with stealing shiny objects. Interestingly, the University of Exeter found no evidence that magpies are attracted to shiny objects, and suggested that they may actually be cautious around unfamiliar items.
Even so, the old image of the magpie chasing something glittering remains a useful metaphor for investing.
It can be easy to become distracted by an opportunity that seems exciting at the time. This might be an investment in a company receiving a lot of media attention or in an asset that appears to be rising quickly in value.
The issue is that these “shiny” opportunities might not always suit your unique circumstances.
Buying in because everyone else seems to be doing so could mean taking on more risk than you intended.
Investment returns are never guaranteed, and your wealth can rise as well as fall.
This is why your investment decisions should ideally be guided by your goals, time frame, and attitude to risk, rather than temporary impulses.
A financial planner could act as a neutral sounding board and help you avoid being pulled from one trend to the next.
If your long-term objectives are the same, your investment strategy may not need to change simply because something new has caught your attention.
The value of your investments (and any income from them) can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance.
Investments should be considered over the longer term and should fit in with your overall attitude to risk and financial circumstances.
3. Salmon and the importance of staying focused on your goals
There’s a chance you know about the incredible journeys salmon take. After spending part of their lives at sea, many return to the rivers where they were born in order to spawn.
This can be demanding, and many salmon may need to swim against currents, navigate obstacles, and keep moving even when the route is difficult.
It may be worth applying this same mindset to your own financial goals.
Building retirement wealth, saving for financial independence, or passing wealth to the next generation rarely happens quickly, and there may be times when progress feels slow or conditions become more challenging.
For instance, markets may experience volatility, inflation could rise, or your circumstances might shift unexpectedly.
It can be tempting to stop contributing or delay important decisions during these moments. Yet, staying focused on the horizon is often vital.
Understanding that a long-term goal might involve difficult periods along the way could help you ultimately achieve your milestones.
4. Swallows and planning ahead for major life transitions
Swallows are one of the UK’s best-known migratory birds, with the RSPB explaining they cover more than 200 miles a day at speeds of 17 to 22 miles per hour.
This kind of journey requires timing and preparation – a swallow won’t wait until winter has fully arrived before beginning the migration, after all.
You can apply this same principle to major financial transitions.
For example, retirement isn’t something to plan at the last possible moment. Ideally, you should start thinking years before you stop working.
This might include reviewing your pensions, checking whether your investments still match your time frame, and deciding how you’ll draw from your wealth tax-efficiently.
The same can be said for other life changes, such as selling a business, receiving an inheritance, or supporting adult children.
If you wait to plan until the change has already occurred, your options might be more limited. Planning ahead gives you more time to adjust, prepare, and make informed decisions.
The Financial Conduct Authority does not regulate tax planning.
5. Geese and sharing the load
If you’ve seen a flock of geese flying overhead, there’s a chance they might have been in a V formation. This helps them conserve energy, as each bird flies slightly above the bird in front, reducing wind resistance.
The group can travel more efficiently by working together – another useful lesson for financial planning.
Managing your wealth often involves many moving parts, such as your:
- Pensions
- Investments
- Tax liability
- Estate planning
- Protection needs
- Retirement income
Trying to deal with everything alone can feel time-consuming and, at times, stressful. Thankfully, a financial planner can help you share this load.
At Investment Sense, we can help you bring the various parts of your financial life together and build a plan that supports your long-term goals.
We can also help you understand your options in plain English, review your progress over time, and make changes as your circumstances evolve.
With this support, you may feel more confident that your financial plan is moving in the right direction, even when conditions change.
Please email us at info@investmentsense.co.uk or call 0115 933 8433 to find out more about how we can support you.
Please note
This article is for general information only and does not constitute advice. The information is aimed at individuals only.
All information is correct at the time of writing and is subject to change in the future.
