The
Alison Soltani You might have heard the term ‘financial planning’ before and associate it with stock market predictions or pension forecasts. However, to see any real changes in your financial situation, a personal financial plan is a necessity. To supercharge your progress and your peace, make the following 3 financial plans a must-have in your financial toolbox. What is a financial plan?
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The Source FAMILY
Whenever you make arrangements for how you will use money in the future, you are making a financial plan. There are different types of plans. Most people are aware of short-term, medium-term, and long-term planning. Short-term financial planning might be preparing a budget for next month, medium-term would perhaps be saving for a new car and long-term could encompass purchasing a property or retirement planning. However, financial planning is never so simplistic. Spending money is fundamental to living and dictates almost every aspect of our lives – where we live, work and how
3 financial plans you need to weather any
boom or bust
we spend our time. Circumstances change quickly – we switch jobs, have children, go through recessions and global pandemics to name a few. All these situations – whether they’re within our control or not – alter our financial outlook in the present and the future. One of