7 Steps of The Financial Plan

When planning for the future, it’s important to create a plan that excites you, is meaningful and importantly is written down.

Manage Your Debts & Liabilities

Debts & Liabilities are a fact of life and are essential to the capitalist model we live in. These allow us to lead lifestyles today that we can’t yet afford. Importantly they provide an acceptable standard of living. Debt puts us in the situation where we have an obligation that must be honoured, usually over an extended period of time.


  • Always remember your current self enjoys the short term benefits of the obligation, but it’s your future self that pays for it.
  • Unsecured debts should be paid off in reasonable timescales and you should monitor the amount of debt as part of your planning. If you constantly live with unsecured debt, maybe your future self is paying a heavy price.
  • Paying off debts ahead of time brings control to your planning and affords you better choices in the future. Review all debts to see if you can restructure, obtain better terms, overpay etc. and actively plan taking control.
  • Do you know the dates when all of your liabilities will be cleared? Who’s in control?