Welcome back to the 360 Money Matters Podcast, where in this episode we dive right into the first step of building your financial plan - understanding your position, and identifying your goals. It can be a difficult task to build your financial plan and roadmap, however, when starting out on this journey it is imperative to have a strong understanding of your current position and set clear and concise goals.
By having a strong grasp on your assets and liabilities, as well as a good grasp on your budget, will be the foundation for spring boarding your wealth creation to make sure that you achieve all of your financial goals.
So be sure to tune in, and get ready to start this journey towards financial freedom!
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This podcast contains information that is general in nature. It does not take into account the objectives, financial situation, or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This information is provided by Billy Amiridis and Andrew Nicolaou of 360 Financial Strategists Pty Ltd, authorised representatives and credit representatives of AMP Financial Planning – AFSL 232706
Episode Highlights:
• Identify your regular income streams.
• Determine what your expenses are.
• List all of your assets.
• Acknowledging your liabilities, and working with them.
• Put together your budget.
• Compare your budgeted cash flow with your actual cashflow.
• Determine your short & long-term financial goals and ambitions.
• Review your circumstances and goals regularly.
• Have enough flexibility and adaptability in your goal and strategy.
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