Starting your Financial Planning

[raaman]

If you are determined and wish to start, any month can be the month for financial planning and you can formulate easy-to-follow tips, to help you manage your money and improve the health of your finances. First, you need to start by finding out how to get a clear picture of where your money comes from and where it goes.

Then you will know how to stay on top of your finances, so that you can plan well and save for the future easily. Here, understanding where your money goes is very important. The journey of your finances begins by comparing the past with the present with things like what do you spend on, where your income comes from etc.

 

[frankmeckel]

I stated my saving plans with piggyvest and i must say it has reallty been helpful in saving my rents and all

 

[Suba]

Financial planning can be started at any time, so you don't have to wait for the end of the year, and the first thing you have to do is change your mindset from wasteful living to frugal living. Increase your willpower and discipline in yourself. Next, record all your income, whether from monthly salary, side hustle, etc. and don't forget to record all your expenses and at the end of the month make corrections, throw away expenses that are less useful or just wasteful. Once you have at least expenditure data for three months then you can draw up a personal expense budget which you can later use as a guide for daily expenses, savings and investments.