Smart money

A financial plan makes it easier to manage your money, so start preparing now

by Webmaster, 30th September 2021

A financial plan makes it easier to manage your money, so start preparing now

The sooner you set financial goals, and your plan to achieve them, the more likely you are to succeed. 

The first step is to ask yourself three questions: -


Building wealth takes time and effort. Set yourself short, medium and long-term goals.

Once you’ve set your goals, write a roadmap to realise them. 

Consider the SMART principle: -

Specific – Define your goals, using numbers where possible. 

Measurable – Create tangible methods to measure progress. 

Achievable – Keep ambitions realistic. 

Relevant – Do your goals compliment your personal values?  

Timebound – Set a time frame to work within. Is flexibility needed?

 Your goals are unique to you. You may want to establish a business to follow a lifelong passion, or simply to pass a legacy on to loved ones.

Having defined your goals, and considering your current position, do you have enough resources to achieve them? 

Don’t forget variables such as inflation, taxation and growth rates.


Cash flow planning is primarily a business concept, but the principles apply to personal financial planning. 

Create a list of assets; their value and where they are. Include cash balances, investments, pensions, property, protection policies and debts such as mortgages, credit cards or loans. 

The future is somewhere you have never been. Cash flow planning guides your journey. If hurdles arise, it finds another path 


Circumstances change and financial plans are not static. Regular reviews prompt actions such as updating wills; progressing a lasting power of attorney or placing a life assurance policy under a trust. 

Life has a habit of springing unpleasant surprises on us when least expected. Let us help you prepare.

The above was provided by Hartey Wealth Management Limited. Registered office: Hilliards Court, Chester Business Park, Chester, CH4 9QP.  Tel: 0808 168 5866. Hartey Wealth Management Ltd is authorised and regulated by the Financial Conduct Authority

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