How to Map Your Finances for a Secure Financial Future
Thursday, February 1, 2018, 6:00 AM | Leave Comment
You work hard for your money and try hard to make it last from one pay cheque to the next. You have realised that there is need to plan your finances for the long run.
It is no longer kosher to wait till the next cheque comes in and then indulge in a month-long party…between work.
What you are looking for is some sort of a plan – a map that will guide you to get to where you wish to be in terms of finances. You can attempt a DIY or you can hire the services of companies like financial mappers.
-
Financial mapping?
There are so many events in your life that you take the time to plan for way before they happen. How to pop the question to your significant other, for instance, or Christmas.
The former can take months of putting intricate details in place, while the latter may involve putting a little money aside every month. The same formula works for planning or rather mapping out your finances for the long haul.
Financial mapping is basically drawing up a plan, over a period of time, of your financial plans to cater for your future.
Financial mapping helps you to take stock of what is going on in the present with your money, where you want to be in the future and how to get there.
There are experts skilled in helping you sort out your finances with regard to expenditure in order to help you meet your financial goals.
Some of these goals could be:
-
Saving for retirement
-
Paying off a mortgage
-
Saving for a trip around the world
-
Saving to buy a home
-
Self-employment
-
Paying off your debts
Whatever your goals might be, it is possible to achieve them with proper management of your finances and a map to help you get there.
-
-
Define realistic financial goals and map out a plan
-
Realize and correct your current money mistakes
-
Clearly see if you are making any progress
-
Understand how money decisions can affect your financial future
-
Give you peace of mind and confidence in your ability to achieve your goals
-
Does it take long?
It does not happen in one sitting. As you grow in your career, be it formal employment or self-employment, your finances keep on morphing and your goals may even shift. Financial mapping is a continuous commitment.
How does financial mapping work?
It opens your eyes up to what your finances look like now and allows you to envision what they will look like tomorrow. A mapper will help you to figure out what you need to start doing now in order to achieve that vision.
Financial mapping helps you to achieve the following:
The knowledge that you are on the right path when it comes to securing your financial future is a huge load off your chest and experts like financial mappers and other Financial Advisors can help get you started on the right path and show you how to navigate the issues that arise as you go along.
Throw us a like at Facebook.com/doable.finance
