If you’re like most adults, you are now aware and worried about your financial needs. One of the best ways to lessen financial stress is to create a good financial plan and commit to it. Everyone is different and circumstances vary, so any advice should be fine-tuned to your unique situation.
In any case, there are key elements to financial planning that can be utilized by any of us you build financial security. See the list below and see which items you can use.

Start a savings account and commit
Ever heard of the 10-10-80 church formula? It’s where 10% of everything you make is for tithes. Another 10% for savings. Lastly, 80% is what you use for everything else. This formula seemed a surefire recipe for life success, and it usually is. Savings are vital for extra expenses that can come in handy when the family grows, or unforeseen situations happen.
One way to let your money work for you is through personal term deposits with Newcastle Permanent. Term deposit works just like a savings account, except after investing your money, it’s frozen until the term ends. In return, you get the security of a fixed rate, so you will know exactly what interest you’ll earn when you eventually reclaim the funds.
Ask help from professionals
Because it isn’t formally taught in primary and secondary school, most of us aren’t versed with how money works, unless you took
Consider insurance
Health insurance, secure term life insurance, home insurance, auto insurance, etc. Life insurance rates and all these other payments can be daunting. There are a lot of insurances out there and you may need what is applicable in your case. One of the top reasons most of us are stressed is because of worrying about unforeseen circumstances.
Reduce and eliminate debt
Debt in any amount can cripple your chance for effective and successful savings as well as your plan for financial safety. You need to do everything in your power to reduce debt and eventually erase it. Credit counselors, financial planners, or even personal planning can achieve this.

Retirement investment
The idea behind
Plan your children’s needs
What school do you want your kids to go to? The needs of our children are diverse and change over time. We as parents need to provide for them. Not to spoil them, but to see to it that their basic needs are provided, and they’re already set up for the future.
Create a will
You can plan all you want, but without careful planning about what goes to your money when you’re gone can make everything useless. A will can be created rather easily, even online if you want it. Of course, a professional’s help is best, but the point is that a will assures your wishes are carried out and the stress of finances will no longer put you down.
If you’re looking for a low-risk and sure way of earning from your savings, try personal term deposits with Newcastle Permanent. Also, most financial institutions have other options on offer like a basic savings account, credit card or home loan.
There you have it. Now that you know some of the basic tips to secure your financial safety, it’s time to decide to start your journey towards financial freedom. Best of luck!