The benefits of financial planning

Financial planning is nothing to be afraid of. It’s just the process of setting out your financial goals and taking action to achieve them. We know it can be a challenge, especially if you are just getting started in your career. We’re here to help you build a plan that’s right for you. 

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A plan for life

A financial plan helps you focus on your goals in life. It will be flexible as your life changes, and should be individual to you.

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See the bigger picture

It can be much easier to plan your future when you have full sight of your savings, investments, debts and pensions.

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Be in control

Having a plan you can check regularly will help you feel in control of your finances. It may help you to adapt to whatever life throws your way.

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Five steps for building a plan you can count on

1. Look at your finances

When making a plan for your future, it helps to know what finances you have now. Make a list of your current savings, investments, salary and debts. Be sure to include any regular payments you may have and build a budget that’s right for you. This will help you see if you can set aside any money for the future.

2. Set your goals

Decide what you are planning for. Maybe you’re looking to buy your first home, go on a dream holiday or buy a new car. Or perhaps you’ve set your sights on an early retirement. Whatever your goals, it’s good to work out how much time and money you’ll need to reach them. We’ve created a savings calculator that may help you.

3. Consider the risk

A key part of a financial plan is deciding where to put your money. While investments could earn better returns than savings, they also involve taking on more risk. Whilst savings are relatively secure and can be easier to access. Take some time to understand the risk and work out how much you are comfortable with.

4. Make a plan

Once you know your goals and how much risk you are willing to take, you can then work on your plan. A good financial plan should take into account everyday spending, savings, investments, pension contributions and any mortgage or rent payments you have. It will also need to be realistic so you can stick to it each month.

5. Review and repeat

A financial plan works best when you can stick to it. But if you have a promotion at work or an unexpected expense, it’s worth reviewing your plan to see if it’s still working for you.

Things to consider when starting out

We know that starting out on your financial journey may feel daunting, but it’s easier than you think. Here are some tips that might help you:


Financial planning facts and fiction

Financial planning facts and fiction

There can be many myths surrounding financial planning. We can help you to decipher the facts from the fiction and hopefully you’ll see that it may be easier than you think.

Facts and fiction

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