How much do you spend on haircuts? Is that a hard question? If so, try this question, how much do you spend on entertaining and household bills such as insurance, and what do you spend on holidays and travel costs? In fact, even if you don’t have a clue, spare a thought for your executors as one day they may need to know all of those amounts and other costs, year on year, to secure an inheritance tax relief on your death.

Sorry to be so morbid, but as we all know, death and taxes are the only certainties in life. Someone may need to know the answer to all of these questions and more, on a year-by-year basis, when you are no longer available to answer these questions yourself.