-
Notifications
You must be signed in to change notification settings - Fork 2
/
index.html
405 lines (375 loc) · 16.6 KB
/
index.html
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
135
136
137
138
139
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165
166
167
168
169
170
171
172
173
174
175
176
177
178
179
180
181
182
183
184
185
186
187
188
189
190
191
192
193
194
195
196
197
198
199
200
201
202
203
204
205
206
207
208
209
210
211
212
213
214
215
216
217
218
219
220
221
222
223
224
225
226
227
228
229
230
231
232
233
234
235
236
237
238
239
240
241
242
243
244
245
246
247
248
249
250
251
252
253
254
255
256
257
258
259
260
261
262
263
264
265
266
267
268
269
270
271
272
273
274
275
276
277
278
279
280
281
282
283
284
285
286
287
288
289
290
291
292
293
294
295
296
297
298
299
300
301
302
303
304
305
306
307
308
309
310
311
312
313
314
315
316
317
318
319
320
321
322
323
324
325
326
327
328
329
330
331
332
333
334
335
336
337
338
339
340
341
342
343
344
345
346
347
348
349
350
351
352
353
354
355
356
357
358
359
360
361
362
363
364
365
366
367
368
369
370
371
372
373
374
375
376
377
378
379
380
381
382
383
384
385
386
387
388
389
390
391
392
393
394
395
396
397
398
399
400
401
402
403
404
<!DOCTYPE html>
<html lang="en">
<head>
<title>Personal Finance Flowchart</title>
<meta charset="utf-8">
<meta name="description" content="Interactive and mobile friendly version of the Personal Finance Flowchart.">
<meta name="keywords" content="FIRE, FIRE UK, FIREUK, Financial Independence, Retiring Early, Retirement Early, FIREUK, Financial Flowchart, Flowchart, Money, Advice, UKPersonalFinance, Personal Finance, Reddit, GitHub">
<meta name="author" content="Marcus Michaels">
<meta name="viewport" content="width=device-width,initial-scale=1">
<link rel="stylesheet" type="text/css" href="style.css">
<script defer type="text/javascript" src="main.js"></script>
<!-- Global site tag (gtag.js) - Google Analytics -->
<script async src="https://www.googletagmanager.com/gtag/js?id=UA-110193406-1"></script>
<script>
window.dataLayer = window.dataLayer || [];
function gtag(){dataLayer.push(arguments);}
gtag('js', new Date());
gtag('config', 'UA-110193406-1');
</script>
</head>
<body>
<section class="overview">
<div class="overview__step step-0 blue">
<p>
<strong>Step 0:</strong> <a href="https://ukpersonal.finance/budgeting/" target="_blank" title="Creating a Budget">Budget</a> and reduce expenses, set realistic goals
</p>
</div>
<div class="overview__step step-1 yellow">
<p>
<strong>Step 1:</strong> Build a small <a href="https://www.reddit.com/r/personalfinance/wiki/emergencyfunds" title="Emergency Fund" target="_blank">Emergency Fund<br>(1-3 months)</a>
</p>
</div>
<div class="overview__step step-2 grey">
<p>
<strong>Step 2:</strong> Automatic Enrolment Pension
</p>
</div>
<div class="overview__step step-3 green">
<p>
<strong>Step 3:</strong> Build a full <a href="https://www.reddit.com/r/personalfinance/wiki/emergencyfunds" title="Emergency Fund" target="_blank">Emergency Fund<br>(3-12 months)</a>
</p>
</div>
<div class="overview__step step-4 purple">
<p>
<strong>Step 4:</strong> Pay down debts
</p>
</div>
<div class="overview__step step-5 orange">
<p>
<strong>Step 5:</strong> Save for short-term goals<br>(<5 years)
</p>
</div>
<div class="overview__step step-6 red">
<p>
<strong>Step 6:</strong> Invest for long-term goals<br>(>5years)
</p>
</div>
</section>
<section id="intro">
<div class="intro__small-rectangle" onclick="hideLaterPhases(this, intro); showPhase(phaseOne);">
<p>
Start Flowchart
</p>
</div>
</section>
<section id="phase-one" class="flow-container">
<div class="flow-container__large-rectangle blue arrow-down">
<p>
Know where your money is going by creating a <a href="https://ukpersonal.finance/budgeting/" target="_blank" title="Creating a Budget">solid budget plan</a>
</p>
</div>
<div class="flow-container__small-rectangle blue arrow-down">
<p>
Check your state supported entitlement at <a href="https://www.entitledto.co.uk/" target="_blank" title="Independent benefit entitlement calculator">entitledto.co.uk</a>
</p>
</div>
<div class="flow-container__small-rectangle blue arrow-down">
<p>
<strong>Pay essential bills:</strong>
<ul>
<li>Food</li>
<li>Rent/Mortgage</li>
<li>Council Tax</li>
</ul>
<a href="https://www.moneysavingexpert.com/family/money-help/" target="_blank" title="Money Saving Expert Money Makeover">Find more advice on MSE</a>
</p>
</div>
<div class="flow-container__small-rectangle blue arrow-down">
<p>
Pay Income Earning Expenses<br>(e.g. transport to work)
</p>
</div>
<div class="flow-container__small-rectangle blue arrow-down">
<p>
Make minimum payments on all debts
</p>
</div>
<div class="flow-container__small-rectangle blue arrow-down">
<p>
Insure what you can't afford to replace such as:
<ul>
<li>Home, Car, Life, Income, etc.</li>
</ul>
<a href="https://ukpersonal.finance/insurance/" target="_blank" title="More information about insurance">Read more about insurance</a>
</p>
</div>
<div class="flow-container__small-rectangle blue arrow-down">
<p>
Pay non-essential bills in full<br>(Internet, Phone, TV)
</p>
</div>
<div id="question-1" class="flow-container__large-rectangle purple">
<p>
<strong>Are you reliant on credit to make ends meet?</strong>
</p>
<div class="choices">
<div class="choice" onclick="hideLaterPhases(this, phaseOne); showPhase(phaseTwo)">Yes</div>
<div class="choice" onclick="hideLaterPhases(this, phaseOne); showPhase(phaseThree)">No</div>
</div>
</div>
</section>
<section id="phase-two" class="flow-container">
<div class="flow-container__small-rectangle purple arrow-down">
<p>
Seek debt councelling from a reputable charity.
<br><br>
<a href="https://www.stepchange.org/" target="_blank" title="Get free debt advice from Step Change">Visit stepchange.org</a>
</p>
</div>
<div class="flow-container__large-rectangle purple choice" onclick="hideLaterPhases(this, phaseTwo); continueFlow(this, phaseThree)">
<p>
Okay, what's next?
</p>
</div>
</section>
<section id="phase-three" class="flow-container">
<div class="flow-container__small-rectangle yellow arrow-down">
<p>
Build a small <a href="https://www.reddit.com/r/personalfinance/wiki/emergencyfunds" title="Emergency Fund" target="_blank">Emergency Fund</a><br>(1-3 months of outgoings)
</p>
</div>
<div class="flow-container__small-rectangle grey arrow-down">
<p>
Ensure you are (auto)enrolled in company pension.<br><br>
Take advantage of matched contributions or any other available company contributions.
</p>
</div>
<div id="question-2" class="flow-container__large-rectangle purple">
<p>
Do you have any high interest (4%+ PA) debt?<br>(excl. student loans)
</p>
<div class="choices">
<div class="choice" onclick="hideLaterPhases(this, phaseThree); showPhase(phaseFour)">Yes</div>
<div class="choice" onclick="hideLaterPhases(this, phaseThree); showPhase(phaseFive)">No</div>
</div>
</div>
</section>
<section id="phase-four" class="flow-container">
<div class="flow-container__small-rectangle purple arrow-down">
<p>
Pay off high-interest debt using a debt-management method such as Avalance (highest SPR debt first, more efficient), or Snowball (smallest debt first, less efficient but with possible psychological benefits)
<br><br>
<a href="https://www.reddit.com/r/personalfinance/wiki/debt#wiki_what.27s_the_best_way_to_pay_down_my_debt.3F" target="_blank" title="More information on debt-management methods for paying off debt">Find out more on each method here</a>
</p>
</div>
<div class="flow-container__large-rectangle purple choice" onclick="hideLaterPhases(this, phaseFour); continueFlow(this, phaseFive)">
<p>
Sure, then what?
</p>
</div>
</section>
<section id="phase-five" class="flow-container">
<div class="flow-container__small-rectangle yellow arrow-down">
<p>
Build a full <a href="https://www.reddit.com/r/personalfinance/wiki/emergencyfunds" title="Emergency Fund" target="_blank">Emergency Fund</a><br>(3-12 months of outgoings)
</p>
</div>
<div id="question-3" class="flow-container__large-rectangle orange">
<p>
Are you saving to buy your FIRST home?
</p>
<div class="choices">
<div class="choice" onclick="hideLaterPhases(this, phaseFive); showPhase(phaseSix)">Yes</div>
<div class="choice" onclick="hideLaterPhases(this, phaseFive); showPhase(phaseSeven)">No</div>
</div>
</div>
</section>
<section id="phase-six" class="flow-container">
<div class="flow-container__small-rectangle orange arrow-down">
<p>
Consider opening a <a href="https://ukpersonal.finance/lisa/" target="_blank" title="Find out more about Lifetime ISAs">Lifetime ISA (LISA)</a>
</p>
</div>
<div class="flow-container__large-rectangle orange choice" onclick="hideLaterPhases(this, phaseSix); continueFlow(this, phaseSeven)">
<p>
I'll look into it. What's next?
</p>
</div>
</section>
<section id="phase-seven" class="flow-container">
<div id="question-4" class="flow-container__large-rectangle orange">
<p>
Do you have other short term goals?
</p>
<div class="choices">
<div class="choice" onclick="hideLaterPhases(this, phaseSeven); showPhase(phaseEight)">Yes</div>
<div class="choice" onclick="hideLaterPhases(this, phaseSeven); showPhase(phaseNine)">No</div>
</div>
</div>
</section>
<section id="phase-eight" class="flow-container">
<div class="flow-container__small-rectangle orange arrow-down">
<p>
Find highest-interest-paying savings account and keep short-term savings in cash
</p>
</div>
<div class="flow-container__large-rectangle orange choice" onclick="hideLaterPhases(this, phaseEight); continueFlow(this, phaseNine)">
<p>
Great idea. Let's keep going...
</p>
</div>
</section>
<section id="phase-nine" class="flow-container">
<div id="question-5" class="flow-container__large-rectangle red">
<p>
Do you have long term goals?
</p>
<div class="choices">
<div class="choice" onclick="hideLaterPhases(this, phaseNine); showPhase(phaseTen)">Yes</div>
<div class="choice" onclick="hideLaterPhases(this, phaseNine); showPhase(endpointOne)">No (really?!)</div>
</div>
</div>
</section>
<section id="endpoint-one" class="flow-container">
<div class="flow-container__small-rectangle">
<p>
Congrats. Increase your discretionary spending budget and enjoy your money!
<br><br>Don't know what to buy? Check out <a href="https://deadwallet.com" target="_blank" title="Dead Wallet: Things you didn't know you wanted">Dead Wallet</a> for some spending ideas
</p>
</div>
</section>
<section id="phase-ten" class="flow-container">
<div id="question-6" class="flow-container__large-rectangle red">
<p>
Does your goal happen before you can spend pension funds?<br>(~58 years old)
</p>
<div class="choices">
<div class="choice" onclick="hideLaterPhases(this, phaseTen); showPhase(phaseFifteen)">Yes</div>
<div class="choice" onclick="hideLaterPhases(this, phaseTen); showPhase(phaseEleven)">No</div>
</div>
</div>
</section>
<section id="phase-eleven" class="flow-container">
<div id="question-7" class="flow-container__large-rectangle red">
<p>
Is the <a href="https://ukpersonal.finance/fees/" target="_blank" title="More information on investment and pension fees">total cost</a> of your workplace pension ≤ 0.5% PA?
</p>
<div class="choices">
<div class="choice" onclick="hideLaterPhases(this, phaseEleven); showPhase(phaseThirteen)">Yes</div>
<div class="choice" onclick="hideLaterPhases(this, phaseEleven); showPhase(phaseTwelve)">No</div>
</div>
</div>
</section>
<section id="phase-twelve" class="flow-container">
<div class="flow-container__small-rectangle red arrow-down">
<p>
Open a SIPP and invest in low-cost <a href="https://ukpersonal.finance/diy-global-tracker/" title="DIY Global Tracker" target="_blank">global index trackers</a>
<br><br>
(If in 40%+ tax bracket, claim additional relief)
</p>
</div>
<div id="question-8" class="flow-container__large-rectangle red">
<p>
Pension full or on track for £1m before retirement?
</p>
<div class="choices">
<div class="choice" onclick="hideLaterPhases(this, phaseTwelve); showPhase(phaseFifteen)">Yes</div>
<div class="choice" onclick="hideLaterPhases(this, phaseTwelve); showPhase(phaseFourteen)">No</div>
</div>
</div>
</section>
<section id="phase-thirteen" class="flow-container">
<div class="flow-container__small-rectangle red arrow-down">
<p>
Additional contributions to company pension
<br><br>
(If in 40%+ tax bracket, claim additional relief)
</p>
</div>
<div id="question-9" class="flow-container__large-rectangle red">
<p>
Pension full or on track for £1m before retirement?
</p>
<div class="choices">
<div class="choice" onclick="hideLaterPhases(this, phaseThirteen); showPhase(phaseFifteen)">Yes</div>
<div class="choice" onclick="hideLaterPhases(this, phaseThirteen); showPhase(phaseFourteen)">No</div>
</div>
</div>
</section>
<section id="phase-fourteen" class="flow-container">
<div id="question-10" class="flow-container__large-rectangle red">
<p>
Are you on track for your retirement goal?
</p>
<div class="choices">
<div class="choice" onclick="hideLaterPhases(this, phaseFourteen); showPhase(endpointTwo)">Yes</div>
<div class="choice" onclick="hideLaterPhases(this, phaseFourteen); showPhase(phaseFourteenB)">No</a>
</div>
</div>
</section>
<section id="phase-fourteen-a" class="flow-container">
<div id="question-11" class="flow-container__large-rectangle red">
<p>
Do you have any other goals?
</p>
<div class="choices">
<div class="choice" onclick="hideLaterPhases(this, phaseNine); showPhase(phaseTen)">Yes</div>
<div class="choice" onclick="hideLaterPhases(this, phaseFourteenA); showPhase(endpointTwo)">Nope!</div>
</div>
</div>
</section>
<section id="phase-fourteen-b" class="flow-container">
<div id="question-12" class="flow-container__large-rectangle red">
<p>
Buy the same things in your S&S ISA, but in a taxable account and harvest dividend/CGT allowance
</p>
<div class="choices">
<div class="choice" onclick="hideLaterPhases(this, phaseFourteenB); showPhase(endpointTwo)">Sounds like a plan! Anything else?</div>
</div>
</div>
</section>
<section id="endpoint-two" class="flow-container">
<div class="flow-container__small-rectangle">
<p>
Well done! If you have no other goals, you can increase your discretionary spending budget and enjoy your money.
<br><br>Don't know what to buy? Check out <a href="https://deadwallet.com" target="_blank" title="Dead Wallet: Things you didn't know you wanted">Dead Wallet</a> for some spending ideas
</p>
</div>
</section>
<section id="phase-fifteen" class="flow-container">
<div class="flow-container__small-rectangle red arrow-down">
<p>
Combine S&S ISA with pensions
</p>
</div>
<div class="flow-container__small-rectangle red arrow-down">
<p>
Invest in low-cost global index trackers.
Buy the same things in your S&S ISA but in a taxable account harvest dividend / CGT allowance
</p>
</div>
<div class="flow-container__small-rectangle red">
<p>
Consider <a href="https://ukpersonal.finance/lisa/" target="_blank" title="Find out more about Lifetime ISAs">S&S LISA</a> in certain niche circumstances
</p>
</div>
</section>
<footer>
<div class="disclaimer">
<p>
The <a href="https://www.reddit.com/r/UKPersonalFinance/wiki/index" title="UKPersonalFinance Wiki" target="_blank">UKPersonalFinance Wiki</a> is a great place to start on your personal finance journey.
</p>
<p>
<em>This flowchart is for informational purposes only and should not be mistaken for, or replace, financial advice or guidance. The author assumes no liability for this. Always do your own research.</em>
</p>
</div>
<div class="copyright">
<p>
Made by <a href="https://marcusmichaels.com" title="Made by Marcus" target="_blank">Marcus Michaels</a>. Inspired by the original <a href="https://flowchart.ukpersonal.finance/" target="_blank" title="FIRE UK Flowchart">UKPersonalFinance Flowchart</a> – with thanks to <a href="https://www.reddit.com/r/UKPersonalFinance/" target="_blank" title="UKPersonalFinance on Reddit">r/UKPersonalFinance</a> & <a href="https://www.reddit.com/r/FIREUK/" target="_blank" title="FIREUK on Reddit">r/FIREUK</a>
</p>
<p>Contribute to this project on <a href="https://github.com/marcusmichaels/personal-finance-flowchart" target="_blank" title="Contribute to this project on GitHub">GitHub</a></p>
</div>
</footer>
</body>
</html>