Who knows what the future holds? We are living in times of uncertainty, with an economic landscape that seems to keep changing before our eyes.
The last couple of years alone have thrown us a cost-of-living crisis, rising interest rates to combat runaway inflation, a change of government and a Budget that is likely to affect us all.
Keeping on top of all this to make ends meet month-to-month is no easy task – let alone making a financial plan for the future.
Despite this general unpredictability of life, having a semblance of a plan is a very good idea – and revisiting it regularly is equally as important.
Crucially, having a plan can make whatever money you have stretch much further and give you a solid financial foundation to cope with whatever life has in store. And it doesn’t have to be daunting.
This guide – sponsored by ethical financial planners EQ Investors – can help you get started with making your own plan from scratch, or you can dip into it at whatever part is most relevant to you.
To make it easy to navigate, we have separated it into six key life events: buying a home, getting married, having kids, the ‘peak earnings’ years, and a financial curveball: divorce. Of course these events won’t necessarily happen to you in that order, and indeed not necessarily at all.
Not everyone’s lives pan out according to national averages. But whenever big life events do happen, the chances are you will have them and there will be opportunities to both spend and save large amounts of money along the way – and avoid losses that might otherwise have occurred without a plan.
The trick is spotting the savings and investment opportunities and taking them – as early as possible. Part of that is knowing what’s likely to be around the corner.
Being more conscious about your money also means you can consider how it impacts the world around you. When you save, spend and invest in the right places, you can make a positive difference to the planet’s future as well as your own.
So dive in. Get planning! Life happens – but if you’re ready for it, your finances will help rather than hinder your plans.
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