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Our Ultimate Guide To Planning Your Financial Goals In 2023

Our Ultimate Guide to Planning Your Financial Goals in 2023

When it comes to planning for your future, you need to consider your finances. Trust us—without having a solid financial plan, you won’t be able to achieve the future life you envisioned for yourself.

Now that you’re interested in financial security, you’ll understand that having a plan is key to reaching this goal. However, it’s not as straightforward as you think, and of course, there is a mountain of things to consider like any strategy.

Because of this, those who are looking to make significant changes in their finances work with financial planners to help them create a plan that fits their financial capabilities and health.

Whatever your goal may be, having a financial goal is crucial. But if you’re unsure of where to start, our experts have created a guide that will help you work alone or with your financial planner create the best strategy for you. Let’s take a look!

Be Serious About Your Financial Goals

While many people find it easier to spend first, pay their bills, and save after, this may be difficult for those just starting their financial journey to security. With that being said, make sure to get serious about saving.

If you want to save money, you need to prioritise your life and work within your budget. While it may seem like a daunting task at first, it can be done. Consider putting money aside once you receive income and transfer this to an account you know you won’t be touching anytime soon.

When you build your savings funds, you’ll find that you’ll also develop a discipline that will allow you to budget and save, which gives you more room to stretch your financial capabilities.

Learn the 50/30/20 Budget Plan

While it’s much better to work with a financial planner to help you create the perfect budget strategy, an excellent way to start is by using the 50/30/20 budget plan.

For those of you who may be unfamiliar, the 50/30/20 budget plan is a budget where you dole out 50% of your income for necessities, 30% for wants, and 20% for savings. While this may seem like a daunting task, it’s essential to have a budget plan to ensure you’re putting enough money towards your savings goals.

Though it may seem a bit intimidating at first, you’ll find that, over time, you’ll see a massive difference in how much you get to save, allowing you to reach your goals faster.

Keep a Money Tracker With You

Having a money tracker is one of the best ways to see how much you spend and save in a month. Tracking your spending will give you a better look into your money habits and provide insight to your financial planner on what needs to be changed and adjusted.

Knowing how you spend and save your money allows you to see where you stand with your financial goals. This way, you’ll be able to make adjustments to your budget and spending habits to ensure you’re staying on track in reaching your goals.

The Bottom Line: Work with a Financial Planner to Create a Financial Plan to Help You Reach Your Goals

Creating a financial plan is essential to ensure you’re on the right track to financial security. However, if you don’t know where to start, working with a financial planner is the perfect way to ensure you cover all bases. Trust us—while it can be challenging to create a strict financial journey, your future self will be forever grateful for your hard work!

How Can We Help You?

If you’re looking to start your financial journey, it’s better to work with a financial planner than to try to do it yourself.  Central Coast Financial Planning Group is a team of financial experts who assist clients in managing their investments and guide them in creating sound financial decisions. From superannuation advice to retirement planning, down to aged care and estate planning—we’ve got you covered. If you’re looking for a financial planner in Central Coast, give us a call!

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DISCLAIMER: The views expressed in this publication are solely those of the author; they are not reflective or indicative of RI Advice Group’s position and are not to be attributed to RI Advice Group. They cannot be reproduced in any form without the express written consent of the author. This information (including taxation) is general in nature and does not consider your individual circumstances or needs. Do not act until you seek professional advice. Newcastle Financial Planning Group, Central Coast Financial Planning Group, Sydney Wealth Advisers, Coastal Advice Port Macquarie and Coastal Advice Ballina Byron are subsidiaries of Coastal Advice Group Pty Ltd which is a Corporate Authorised Representative of RI Advice Group Pty Ltd, ABN 23 001 774 125 AFSL 238429.


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