Plan ahead

A financial plan is a blueprint that defines how you will achieve your finaåncial and lifestyle objectives. At the acsis/Personal Finance Financial Planning Club's series of meetings this month, Gerrit Viljoen, the director of Ultima Financial Planners in Pretoria, talked about what you need to consider when drawing up a financial plan.When you want to go on holiday, you start preparing and planning months beforehand to make sure that your holiday will go smoothly. And yet many people fail to put a similar amount of effort into preparing a financial plan, Gerrit Viljoen says. Although gambling, for example, may seem like an exciting way of taking care of your financial needs, you stand to lose everything. Financial planning, on the other hand, can be very boring, but the result will be your financial security, Viljoen says.Applying the fundamental principles of financial planning over the long term will enable you to achieve your lifestyle objectives. Although there are many good financial planners, Viljoen says there are just as many who are merely product pedlars.

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