Why is it important to review your financial plan regularly?

Reviewing your financial plan regularly is crucial to ensure it aligns with your current goals and conditions. Financial situations can change due to various factors such as shifts in income, changes in expenses, life events (like marriage, children, or career changes), and economic conditions. Regular reviews help to adjust your plan to reflect these changes, enabling you to set realistic goals and make informed decisions.

By revisiting your financial plan, you can identify areas where you may need to save more, cut costs, or reallocate investments based on your current life circumstances and future aspirations. This adaptability is essential for effective financial planning and management.