Tips when making your financial plan

So here are my 3 tips to successfully write your financial plan:

Make it personal

It's easy to get wrapped up in watching YouTube videos and read articles about how other people create their financial plans. The difference is, that is their financial plan. Not yours. And it is important for you to realise that and make your plan suit your needs. As every person is different and will have different needs.

Revise it

Things change. Situations change. Jobs change. And so should your financial plan. As life changes, kids come along, people get promoted, your needs and wants change. And that is why it is important to revise your financial plan at least once per year, but preferable every 6 months.

Consult a professional

As much as you can do it yourself a professional can bring in some better insights. They can be objective and help hold you accountable to your plan. They can offer advice on where to save your money, how much to save, and what debt to pay off faster. These are things that only an FSP professional who is FAIS complaint can offer you.

There are many ways to write your financial plan. Be it in excel or on a notepad. The important step is to draw it up! This will help you on your journey to financial freedom!

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