3 situations when you should review your financial plan

Financial planning is a must for securing your long-term financial needs. 

It is generally done so that you may meet your investing objectives and help you acheive your financial goals.

Here are three situations when one should review their financial plan.

1. Thinking to get a big loan

When someone applies for a loan for a large purchase such as a home or property, it is necessary to analyse their financial plan.

2. Change in income

A boost in pay does not always mean an increase in expenses. As your job progresses, you can save more money to invest, which can be effectively done by reviewing your financial strategy.

3. Change in health status

If your health status changes, it is urgent to modify your investment objectives.

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