Your Goals, Dreams & Aspirations-Why use Cashflow Modelling
When providing financial planning support to our clients, we do so to help create a sense of financial wellbeing which we describe as being able to:
- Fully meet Your current financial obligations,
- Feel secure in Your ability to meet Your future financial obligations,
- Have peace of mind when it comes to the “What Ifs” life brings,
- Have the ability to make financial choices that allow You to enjoy Your life.
So, we consider how your money will perform for you now as well as into the future to help you achieve your stated goals, dreams and aspirations. Sophisticated cashflow modelling helps clients visualise their future incomes and expenses, aligned with their current financial plans, and take action to make your goals, dreams and aspirations a reality. Through proper financial planning conversations, it may come to light that financial security for one client will be a small, downsized, debt free home to live in forever and the ability to take a holiday to the sun every year for life. For another, they may be dreaming of buying a holiday home in Spain, where all the family can spend their summers.
Cashflow modelling is built with good data inputs of how your household spends its money today, on the things in your life that are important to you now. So to build a good cashflow model, so we need collect accurate current income and expenditure data to create your future model. Once current incomes and expenditures are input, we will capture all of your investments, life assurances, savings and debts to provide a clear view of your current situation. From here, we will embark on your goal setting journey, to include all those essentials and ‘dream of’ expenses you are hoping to achieve over our lifetime.
Once we have your incomes, expenditures, financial products and goals established, we can examine the results to see if your goals, dreams and aspirations can be met, adjusting your goals or life events, or see if we can meet any unmet goals in a different way.
Your cashflow model should be updated at least yearly, to reassess the validity of the inputs to the model, but you may also want to look again during big life events, or before big purchases, to ensure that your goals remain on track.
Our role throughout your cashflow modelling journey is to assist you on life’s financial journey, highlighting where you are doing well and making some tweaks where necessary along the way.
If Eolas Money can assist to visualise your financial future, please do not hesitate to contact us.