Tips to help you get started with financial planning

Making financial decisions can seem intimidating at first. But starting small will help you reach your goals. The path to financial freedom begins with small steps, whether you’re new to the workforce or managing your first income.

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You can start by recording your income and spending. Keeping track of income and expenses will increase your awareness, and help identify where you might be able to save. Next, you can create a budget with a priority of essentials. You should also include some savings and fun. A small amount of income saved consistently over time can turn into an emergency fund.

As soon as you have covered the basics, establish clear goals, such as paying off debt, saving up for a holiday, or investing. It’s not important to start with large amounts. A high-income is not the most important factor in a financial plan. Automate your saving, avoid unneeded debt, and regularly review your progress.

Do not forget to dream big, but don’t make giant leaps. Financial dreams can be made real by anyone with patience and smart decisions.