Fourth Step: Review the Plan

Every good plan is a work in progress and has to be constantly reviewed. How often? As often as you feel necessary. Regular review of your yearly plan can happen every three months of half a year, but if a need arises it can be more frequent. For instance, if you lose your job and have to cut back on expenses, you will definitely have to review your plan and find the additional areas in which you can save, or additional income that you might want to utilise due to the changes in your financial situation. Also, if the daily recording of your income and expenses constantly in the course of three months results in very different figures than those that were planned go back to planning and make the new plan with the more accurate assumptions.