Your financial wellbeing does not have to be a random path where you do not see the end. Everybody should have a financial plan, simply put we set out what your objectives are.

Example, what age do you want to retire at? What do you want to do when you retire? What monies do you want to use to provide for others? Then we look at your income, what are you earning? And then we look at what your expenses are. From that we can extrapolate your projected entire income and expenses for the rest of your life. You can then change your behaviour so that you can achieve your goals or if you don't want to change your behaviour then except that you won't achieve your goals.

Simple behavioural changes would be, do I spend a large amount in a motor vehicle now or what if I didn't purchase such an expensive motor vehicle and I put the excess into a pension? Does that mean I can retire earlier? Does that mean I can have a better retirement?

Another option would be simply to look at your level of personal borrowings and interest that you're paying. How can the loans be restructured and with the excess money that you save on interest cost, what can you do with that money? Example to invest in a pension or save up to purchase a home.

Another thing to look at would be the home that I'm living in. Regularly we meet people that are living in homes worth millions of euros and have no cash for day to day expenses. An extreme example but through financial planning, this problem can be solved.

The idea is you set your objectives no matter what your income level is. You look at your income, you look at the expenses, you vary it and then you can alter behaviour on a day to day basis, which will allow you to reach your objective. A financial plan is a constantly evolving document that you need to create and review every year.