Today’s action is tomorrow’s progress, what are you doing about your future today? In this article, we have compiled few things you need to do to secure your future. They include:
- Identify your biggest concerns
- Know your future aspirations,
- Have an action plan,
- Review it regularly
- Pay attention to your spending.
1. Identify your biggest concerns
Think about what worries you most about providing for yourself and your family and your business, then review the financial protection you have in place today. Is it enough if something unexpected were to happen?
2. Know your future aspirations
In our survey, 71% of people who made plans for the future had high expectations for their future quality of life.
Think about your goals for the future – that could include your retirement, funding your children’s education or buying your first home. To understand what protection you need in order to reach your goals, you might want to get some professional advice.
3. Have an action plan
46% of people surveyed either would not cope well financially or have nothing specific in place if something unforeseen were to happen to them.
Once you understand what protection you have and what you need, explore the options available and take action to bridge the gap.
4. Review it regularly
Some people believe that someone else should be responsible for ensuring their family’s financial stability if something happens and they are no longer able to earn.
Support from your employer/business or the state may not be enough to cover all of your needs, and your circumstances will change over time. To keep up with your evolving needs, review your plan regularly.
5. Pay attention to your spending.
Call it budgeting if you want, but I’m essentially talking about paying close attention as you spend money. This could be as simple as keeping an index card in your pocket to write every transaction on, or purposefully reviewing your monthly credit card statement. Whatever your method, just start noticing how you are spending money.