Financial planning is the process of setting out your financial goals and taking action to help you achieve them.
The sooner you start, the better. Even putting a small amount of money away now can make a huge difference later on.

Setting money aside can be challenging, especially if you’re just getting started in your career. But just imagine being able to relax and focus on things beyond money. From holidays to retirement, things could feel better when you have a plan in place.

The benefits of financial planning

Decide what’s most important

Decide what’s most important

List your goals and identify what matters most. This will help you understand how each decision affects your life.

Enjoy peace of mind

Enjoy peace of mind

Financial planning is a long-term process. Checking in on your finances regularly can give reassurance that you’re still on track. It can also help you identify changes that you may need to make.

Get your finances in order

Get your finances in order

Financial planning can help make life easier. If you have sight of your savings, investments, debts and pensions, all in one place, you can keep a close eye on them.


Five steps to financial planning success
 

1. Elevate your finances

1. Elevate your finances

Start by listing your finances so you have a clear view of all your assets and debts. From salaries and savings, to student loans and credit card bills, knowing what you have, is key. You can then build a budget based on what you can afford.

2. Know your goals

2. Know your goals

Whether it’s buying your first car, getting married or looking to retire, understanding how much money you need is important. Our savings calculator can help you work out what you need to reach your goals.

3. Understand risk

3. Understand risk

Longer term investments could give you a better return than cash savings, but, could also mean taking on more risk. Cash savings are fairly safe and easy to access. 

It’s important to understand the levels of risk involved with different investments and to work out how much risk you’re comfortable to take.

Our investments page can help you understand more about investments and risk.

4. Work out a basic plan

4. Work out a basic plan

Create a realistic savings and investment target to help you meet your goals. By building a financial plan, it will help you to meet your goals. Include your daily spending, savings, investments, pensions and your mortgage, if you have one. Our spending insight tool can help you see where your money is going.

5. Review you plan regualrly

5. Review you plan regualrly

By keeping a regular check on your finances, it will help you to make the most of your money. We have tips and tools on our money management page to help make your money work harder for you.

Frequently asked questions

The following frequently asked questions may help you as you start to plan your financial future. 

 

 

Financial planning myths, busted.

There are lots of myths about financial planning. We’ve created a list of the common misconceptions to help. By being more informed, you can feel confident in making the right decisions for you.

Bust those myths

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Money management

We have tips and tools to help you with budgeting, borrowing, saving or supporting others.

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Whether you're facing a tough time, or you need help managing your money, we’re here to help.

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