Make the most of your financial plan with Maji
4 min read
Wellbeing for individuals

Make the most of your financial plan

Catherine Miller

Major life goals can feel overwhelming. Want to buy a house? Have a family? Travel the world? None of these come for free, so you’ll probably need to have a decent pot of money to meet your milestones. Not to mention some money to keep you going in retirement. It’s a good idea to create a plan for how to get there. 

Maji’s financial planner will help you understand and set financial goals, as well as giving you some ideas for how to achieve them. But a plan is only the start of your journey. With your completed plan in hand, you’ll need to take certain steps to make your dreams come true. And there are a few things you could do to make the most of your financial plan. 

Find your path

Studies show that writing down your goals and dreams can make you over  40% more likely to achieve them! So, the very act of creating a plan for what you want to achieve is a great first step. 

Just because you have a plan, doesn’t mean you’ll put it into action. Make life easier yourself by breaking your plan down into smaller chunks until you have a set of micro-goals. These should be easier to tick off your to-do list: think ‘research savings accounts’ rather than ‘save £50,000’! Consider how SMART your micro-goals are – are they specific, measurable, achievable, relevant and time-bound? 

Maji’s digital coaching can help you here. We break down some of the most common financial goals into step-by-step journeys, and ticking off each step can keep you accountable to yourself.

Work together on your financial plan

Wherever you’re headed, it’s likely you won’t be going alone. Whether it’s a family member or a significant other, you may end up working with someone else to achieve shared goals like buying a home, raising a family or caring for elderly loved ones. 

Choosing to share your plan with someone else is obviously a very personal decision. But there could be significant advantages. You could create more accountability, which studies show can give you a 95% chance of success! And involving someone else in elements of your plan that affect them can boost their confidence too, which can also make success more likely. Maji makes it easy to share your plan with a trusted person in moments. 

Connect with experts

People who get financial advice from a regulated expert could end up £47,000 better off over their lifetimes. That’s a pretty good reason to connect with someone face-to-face. 

Luckily Maji Premium subscribers can connect with a vetted team of financial experts through Maji. Your first session will be free! And future sessions will be at a discount. 

But having a plan ready to share with your advisor can also save you more money on top. Rather than spending (potentially expensive) time producing the plan with your advisor, you can present them with all the details and cut to the chase! 

Get the right products

Choosing the right financial products can be stressful. After all, there’s a lot of choice out there. And how do you know which ones you actually need? 

Your financial plan can highlight where you might need to get a particular product, such as insurance. And your goals can guide your product decisions, for example in helping you choose between savings accounts if you know how much you’re aiming to put away. 

Get support

Making your plan is a great starting point for your financial journey. But if you get confused along the way, Maji’s here to help. Don’t forget you can connect to us using the pink chat icon on the portal. We’ll answer your question as soon as we can, or connect you with an expert who can give further support. 

Image by Nick on Unsplash

Cookie settings