5 ways to plan a positive financial future

Figure out how to maintain a better financial future.

11:25 25 May 2013

Taking a particular page out of Northern Ireland’s book might not be a bad idea. While they are setting forth a plan for the future which focuses on strengthening communities, the same principle could be applied to the area of finances for any business, family, or individual.

 

Here are a few tips to get you started with your own plan for a positive financial future:

 

• Set goals—when planning for your financial future you’ll want to have some clearly defined goals set first. If you have specific amounts that you want to save, or just an overall goal for a positive financial future try to set milestones, or many specific smaller goals such as investments and savings. 

 

• Serious savings—one of the most important aspects of having a positive financial future is planning for it. This is a combination of good investing, and establishing savings accounts that will earn interest for you. Be consistent and disciplined about contributing certain amounts to your savings account. 

 

• Pensions—don’t neglect pensions, even if you aren’t anywhere near retirement age. Ensuring that your retirement years will be financially secure can help alleviate a lot of concern and stress when it comes closer to retirement time. 

 

• Family—as soon as you have a family, it’s time to start planning for their positive financial future as well as maintaining your own. Junior ISAs are one way to ensure that your children have a good start towards purchasing their first home, or paying for education. 

 

• Review—keep track of debts, savings, and investments and make sure you have the proper amounts allocated so you won’t be taken by surprise in the future. You may need to occasionally shift funds around in order to follow your plan for a positive financial future. 

 

Start by following these steps and you’ll come up with others that can also help you achieve financial stability.