How a PLAN can help you hit life’s goals

You might have noticed that most of the big events in our lives cost a lot of money. Buying a house, buying a car, getting married and having kids can all be some of the biggest expenses we see in our life. So if we know these will one day happen, how do we plan for them?

The simple answer is that a lot of people don’t. It’s so easy to get caught up in the right now that we lose track of what we want to happen in the future. But it’s not that hard to make your plan. By simply looking into the future and anticipating when these big life events are going to fall, allows you to get ahead on the financial planning front.

If you were to sit down today and map out the next five years, what do you think will fall and how much do you expect it will cost you? From a financial perspective, those big life occasions can take years of planning, especially if you don’t want to disrupt your life too much in the process. While the organising of the event should only take a few months at best.

Let’s take a wedding for example… Once the proposal is made the planning generally starts immediately. You need to hire a venue, then find a dress and narrow down the invitation list. On average, it would be fair to say that couples normally give themselves a 12-18 month window to ensure they have ample time. Now, if you don’t have help from your parents, is this enough time to plan your finances for the big day? In most cases, I’ll say no. The financial planning for the wedding day can take anywhere between 12-48 months to ensure you get the perfect day (especially if it’s costing you more than a deposit for a house).

It might be worth mapping out your future and starting to plan for your next big expenses or life’s events. We help our clients realize what really matters to them and then create a financial plan around these milestones to ensure they have the best chance of reaching them, in the shortest time possible and with the least effect on their day to day lives.