A financial plan is often called a budget and should include all your sources of income (that is any money you receive) as well as your expenses (the things you spend money on every month).
Putting together a budget can be intimidating but the best place to start is by thinking about what you need to survive and the things you want.
There are so many things to spend money on and everyone will have a different idea about what they need and what they want. But generally the things we need are groceries, rent and transport money. These are the basic things we need to survive. The things we want are the ‘nice to haves’, these can range from new clothes, a new cellphone or a pay-TV subscription through to treats like sweets, chocolates, takeaways, cool drinks and holidays.
The most important thing is that you know what YOUR needs and wants are.
