5. Create a Budget and Spending Plan
One of the most important financial planning tips we can give you is to create a budget. Understanding your income and expenses is paramount to making wise financial decisions. People who have a good understanding of their cash flow make better financial decisions and are more likely to achieve their financial goals. It’s vital that your expenses aren’t exceeding your income. A budget will help you keep an eye on this. Review your income, expenses and debts. Analyse how much (if any) money is left over. You may need to make some spending changes here, to get your budget to where it needs to be, so you can move toward your financial goals.
6. Start With Three Small Changes
It’s amazing how much a daily coffee can cost. Small, manageable, regular changes can make a huge difference to your financial health. Choose three small, manageable changes you can make today, to decrease spending. Track your savings over next four weeks to see just how much difference a few dollars can make!