Having a certain degree of affluence can afford you access to the finer things in life, such as living in a chic neighbourhood, going on luxury holidays and driving high-performance cars, but that doesn’t mean you should be frivolous with how you spend your money. Just like everyone else, it’s important you make your cash work hard for you.

If you are on a high income, you might think you’ve got so much cash that it doesn’t matter whether or not you get a good deal on financial products and services. However, you should never take this approach to managing your money – after all, cash doesn’t just grow on trees. Instead, there are several ways you can get to grips with your finances which will see you free up expenditure on essentials and allow you to spend more money on enjoying yourself.

Get insurance from a broker

Regardless of your economic status, one vital financial product you’ll need is insurance. Indeed, you are legally obliged to have cover if you own a car, while all homeowners are required to have at least buildings insurance.

Of course, insurance should never be seen as a burden and the financial protection that it provides in the event your house and/or car is damaged by flood, fire or vandals can be vital. However, that is not to say that you should take out the first policy you come across. Doing so can mean you’re stuck in a contract that is not just needlessly expensive, but also does not offer the standard of protection you require. Instead, you should spend time searching for the most comprehensive level of insurance at the best possible price. Although many of those on low to average incomes will use price comparison sites to establish which high street insurers have the most competitive deals, they are often of little use for consumers with a greater degree of affluence.

Whether it is a high-value home, expensive contents or a luxury car that you want to cover in case of any car accidents you may have or damages to the vehicle, many of the companies that have a presence on these websites simply won’t insure people seeking protection for higher-value possessions. This is mainly because they consider your assets to be too costly to pay out in the event you need to make a claim. Rather than going without insurance altogether – which can be both illegal and incredibly expensive when it comes to repairing or replacing lost, damaged or stolen goods – you should seek out the services of a specialist broker.

Organisations such as Certis Insurance Brokers will discuss any particular requirements that you have before seeking out policies from specialist insurance providers that will deliver the level of protection you desire. That way, you can be confident of being offered cover that is both comprehensive and competitively priced.

Compare credit cards

Those who earn above a certain amount of money each year are usually able to access exclusive platinum credit cards, although if you are hoping to take out such borrowing products you ought to compare rates carefully so that you get the most for your money.

Lenders will quite often use special offers – such as zero per cent on purchases and balance transfers – to attract customers to their products, so you should look carefully at these when establishing which product to choose.

When you have decided which platinum credit card you want, make sure you’re aware of when any special offers or rates will be ending. As the expiry date approaches, you should start looking for a new card to transfer your debts to so you don’t end up being stuck in an uncompetitive deal.