1. How to Create a Financial Plan in 3 Steps 📊
- Define your goals for the year 🎯
If you want to stay in control of your finances, a financial plan helps you stay on track throughout the year. Start by defining your goals — whether it’s building an emergency fund, paying off debt, saving for a holiday, or growing long-term wealth. The more specific your goals, the easier it will be to incorporate them into your plan. - Analyse what’s needed to reach them 🧐
Next, consider what it takes to achieve those goals. Reflect on the past year: what came in, what went out, and where did your spending fluctuate? That analysis gives you a realistic sense of your financial capacity. Adjust where necessary — for example, due to higher fixed costs or new spending habits — so your plan aligns with your current reality. - Translate your goals into daily life 🔁
Now make it practical: create realistic budgets per category and set savings goals with clear amounts and target dates. A goal without a plan is merely a wish.
2. 3 Routines to Help You Stay on Track 💡
- Plan a monthly money check-in 🫰
A short, half-hour session each month is sufficient to maintain control. At the start of every month, review your budgets, make adjustments if necessary, and assess your savings progress. Scheduling this in advance prevents you from reacting only when problems arise. - Automate fixed costs and transfers 🔄
Automation is immensely helpful. Immediately after payday, transfer money to your savings or investment accounts so your goals are automatically funded. Ensure fixed costs are withdrawn straight away — what remains is your actual disposable income. This reduces impulse spending and makes saving less reliant on willpower. - Use savings pots for expensive periods 🐷
Plan ahead for recurring large expenses, such as holidays, gifts, or healthcare costs. Create separate savings pots for these so you can spread the cost over the year. In the Grassfeld app, you can easily create and monitor these pots to see how much you’ve saved and what’s still needed.
3. Use Grassfeld as Your Personal Year Planner 📅
With the Grassfeld app, sticking to your financial plan becomes much easier. You can set budgets and savings goals, and by connecting your bank account, your expenses are automatically categorised — giving you instant insights in the “Statistics” section.
📲 Download the free Grassfeld app now from your app store!
Bonus: Financial Year Calendar
Other Annual Considerations
- Health insurance deductible – If you use medication regularly, expect to pay this during the year.
- Dental costs – These can be insured, but insurance is not always cost-effective.
- Road tax – Paid monthly or quarterly if you own a car.
