Financial planning is not easy; it requires deep thought, note-taking, and essentially writing your goals down on paper. It’s impossible to predict the future, unless of course you’re a fortune teller, and that can make long-term financial planning rather difficult.
It’s important think of your future goals as realistically as you possibly can. Here’s is a list of questions you may want to consider:
Will I get married?
Am I working towards a promotion?
Do I want to change jobs or switch careers?
Will I have a child, if so how many?
Do I want to move home?
Will I be making investments?
Of course you may not be able to answer these questions in full, or perhaps some answers will be clearer than others. You should ideally create a plan, and it doesn’t have to be extremely complex, it can merely be a list of every goal you want to achieve in life, and perhaps the time you wish to achieve it by. This can then help you see clearly what is relevant and what is irrelevant, therefore helping you work out an estimate cost for each item.