How do I create a personal lifestyle financial plan?

Make your money and investments create more opportunities for your future

A successful lifestyle financial plan can help you gain control of your financial situation and provide the opportunity for both short and long-term success. So how do you start to create a persona

Been putting off planning for the future?
The first place to start is by asking questions: What led me here? Why am I considering doing this now? What would having an excellent plan mean for me? Why would I want to do this? What does a personal lifestyle financial plan actually consist of and how would it benefit me? Where am I right now in terms of my plans and what steps do I need to take to achieve the best results for myself?

What are the benefits to me of having an excellent plan? How will my life realistically look if I have a good working system for maintaining my finances? Where do I see myself financially in three years based on where I’m at today? What do I hope to get out of this, personally or professionally? If I could wave a magic wand and change anything about my finances, what would it be and why? What’s one thing I can start right now that may have the biggest impact on my finances in the long-term?

Financial success
Knowing your answers to these questions will help you understand exactly what you want from your personal lifestyle financial plan. By asking yourself these questions and giving honest, well-thought-out answers, you’ll be taking the first steps towards creating life-long personal financial success.

Writing them down is a great way to organise your thoughts. You may even find some inspiration from those questions as they relate directly to your own situation and desires as an individual. A solid personal lifestyle financial plan isn’t about making life more complicated, it’s about simple organisation and foresight so that you’re prepared for anything that comes along no matter how unexpected it may be.

Life’s indulgences
Before you invest, it’s helpful to have a clear plan of what you are investing for, and how you might achieve your goals. Planning your finances may take up some of your time, but the benefits are well worth the effort. By taking a proactive approach you’ll find that you have more money at all times and can take part in even more of life’s indulgences when you need them most.

The reward is in seeing your plan come together over time without panic or stress, because it fits into exactly who you are and what you want for yourself right now and moving forward into the future. Just remember to be clear, specific and realistic in your goals, so you can up your odds of staying on track.