Welcome to the adult world! Strap in, it’s expensive.

Whether you’re looking to buy a car, a house, and set up a nest egg or you’re desperately hoping to afford a bike, rent in a shared apartment, and chip away at some student debt, you’re in luck! Because no matter what you’re hoping to do with your money, the right financial plan can help you get there.

If you don’t know the first thing about financial planning, you’re in the right spot.

What Is a Financial Plan?

A financial plan can be any type of step-by-step roadmap that helps you identify what’s important to you and create goals so you can make sure your money works towards them.

It’s a plan that aligns with the important things in your life, big and small.

Some people come up with these by chatting with family and friends to see what they did. Others work with finance pros to help them with investing. Either way, you should look for a solution that works best for you.

Who Actually Needs One?

Short answer: Probably you. If you have any sort of financial goal, you’re probably someone who could use a good financial plan.

That could mean creating steps to save up for a mortgage on a first home, finding ways to pay down your student debt, or just allocating enough money to order fancy sushi every single night—everyone’s situation is a little different but most people could benefit from one.

Why Should You Have a Financial Plan?

A financial plan can help you take on some of the more intimidating aspects of managing your money (like investing) to make sure you’re getting the most out of it.

Even small regular investments can grow significantly over time. And the sooner you start, the more greatly they can compound. 

Targeted investing, with a goal in mind and in support of companies that align with your ideals, can be very approachable if you’ve got the right financial plan in place. Seriously, it’s not as scary as The Wolf of Wall Street makes it look.

When Should You Create a Financial Plan?

There’s an old saying that the best time to plant a tree was 20 years ago and the second-best time is today. When it comes to building a financial plan for the future, this largely holds true as well. 

Properly handling your finances seems to always be a concern with young people and understandably so. It’s obviously important to set yourself up financially for right now and for the future. But here’s the thing, it’s actually a lot easier than you might have thought to get started.

Where to Start?

It can be tough to navigate all of this without some proper guidance. If you’re considering a financial plan of your own, you should let the experts at CIBC JOURNEY ADVICE™ help you invest in those dreams.

Take your next steps with confidence by authoring a plan that’s based on your personality, dreams, and obstacles. Then, use their specialized digital tools to keep track of everything.

A dedicated CIBC Journey Advisor can get to know what’s meaningful to you—from what worries you to what excites you. They can even introduce you to different specialists depending on what you’re going through, like seeking a mortgage or starting retirement planning (never too early).

Speaking of taking the next step on the way to your financial goals—get a chance to win $1,000 towards your investments by answering a few quick questions to test your financial knowledge.