{"id":76854,"date":"2021-10-06T10:30:00","date_gmt":"2021-10-06T07:30:00","guid":{"rendered":"https:\/\/www.bondora.com\/blog\/?p=76854"},"modified":"2021-10-06T10:30:00","modified_gmt":"2021-10-06T07:30:00","slug":"build-your-financial-plan-in-5-easy-steps","status":"publish","type":"post","link":"https:\/\/goandgrow.eu\/en\/blog\/build-your-financial-plan-in-5-easy-steps\/","title":{"rendered":"Build your financial plan in 5 easy steps"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Today is World Financial Planning Day, a global initiative to increase financial literacy, and to teach the value of preparing for tomorrow. A financial plan establishes goals, creates a feasible strategy to reach them, and tracks your progress toward success. Developing a financial plan can help you create a roadmap for your future, no matter what stage of life you&#8217;re in or what your goals may be.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-here-s-how-to-build-your-financial-plan-in-just-5-easy-steps\">Here&#8217;s how to build your financial plan in just 5 easy steps:<\/h2>\n\n\n\n<p align=\"center\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-set-your-goals\"><strong>Set your goals<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Think about what you want your life to look like in 5, 10, or 20 years. Do you plan to buy a home, save for your children&#8217;s college tuition, or start your own business? Setting inspirational goals will highlight what your money can do for you and make saving feel more intentional.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-create-a-budget\"><strong>Create a budget<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Knowing what you are spending your money on will give you more control over your finances. When you create a budget, you can understand where you can afford to spend and identify areas you can save.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-manage-debt\"><strong>Manage debt<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">If you&#8217;ve made any big purchases, you may have an outstanding loan or a balance on a credit card. High-interest rates and large monthly payments can prevent you from getting out of debt and saving money. Develop a strategy to pay off those balances and become debt-free.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-save-for-an-emergency\"><strong>Save for an emergency<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Sometimes life can throw you a curveball, so it&#8217;s important to be prepared. By putting money aside, you can make sure a life emergency doesn&#8217;t become a disaster. It is recommended that your emergency fund should cover at least 3-6 months&#8217; expenses.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-invest-to-grow-your-savings\"><strong>Invest to grow your savings<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Investing can help you grow your savings faster, and can be as simple as putting money in a retirement account or college savings fund. With Go &amp; Grow, you can get started with as little as \u20ac1 and earn a return of up to 6.75% annually.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">And that&#8217;s it! What other steps did you take to build your financial plan? Share them in the comments.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Don&#8217;t forget to&nbsp;<a href=\"https:\/\/www.youtube.com\/bondora_com\" target=\"_blank\" rel=\"noreferrer noopener\">subscribe to our channel<\/a>, if you want to get more helpful tips from Bondora.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">See you next week!<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.goandgrow.eu\/blog\/wp-content\/uploads\/Bondora-monthly-video-recap-1024x576.jpg\" alt=\"Bondora monthly video recap\" class=\"wp-image-40735\" width=\"624\" height=\"351\" \/><\/figure><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Today is World Financial Planning Day, a global initiative to increase financial literacy, and to teach the value of preparing for tomorrow. A financial plan establishes goals, creates a feasible strategy to reach them, and tracks your progress toward success. Developing a financial plan can help you create a roadmap for your future, no matter [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":40735,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[117],"tags":[112,103],"class_list":["post-76854","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bondora-news","tag-bondora-video","tag-english"],"acf":[],"featured_image":null,"categories_names":["News"],"category_name":"News","_links":{"self":[{"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/posts\/76854","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/comments?post=76854"}],"version-history":[{"count":0,"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/posts\/76854\/revisions"}],"wp:attachment":[{"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/media?parent=76854"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/categories?post=76854"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/tags?post=76854"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}