It is important to review your plan at regular intervals to take account of changes in income and outgoings as well as other circumstances, such as a new job or an addition to the family. You also need to weigh up new investment products as they come onto the market, and change your plan to take advantage of them if it seems appropriate. You may find you can achieve some goals sooner than you had expected, or you might have to postpone some.
Once you have drawn up a personal financial plan you need to monitor its performance regularly. Only by checking how your plan is performing against the goals you have set can you be sure that your personal financial strategies are on target.
If you stay with your plan, implementing and modifying your strategies as appropriate, you will have every chance of realising your personal financial goals and achieving what you want to with your life.
We would be happy to advise you further on developing your SMART personal financial strategies. Call us to discuss how we can help.