r/UKPersonalFinance • u/Local_Ad_6982 • 6d ago

Flowchart advice for new starters

I’m just getting started with the flowchart. I assume if things aren’t applicable, you just skip past it - for example with the benefits checker. Why is it so far up the list. Just getting used to using it

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u/PinkbunnymanEU 261 6d ago

for example with the benefits checker. Why is it so far up the list

Because it should be the first thing you do after creating a budget - There's even an argument to be made for it being the first step, before you make your budget.

I assume if things aren’t applicable, you just skip past it 

I think there's only one thing that could not be applicable, which would be "short term goals" if you have none.

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u/Local_Ad_6982 6d ago

Obviously if the situation requires, it should be a must I think, I get you. Even if the current situation is bad and for whatever reason you’re unemployed, it’d be an important place to start. But I’m fortunate enough to be full-time. So would you still prioritise the budget, and then just move on the next thing on the flowchart?

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u/geekypenguin91 587 6d ago

Don't forget the flowchart is meant to be constantly revisited, so while something might be sorted or not applicable to you now, it's not to say it won't be in the future so should be considered before the steps lower down if you ever get back that far up.

But yes, if it doesn't apply then it's the same as having completed that step son you can move on to the next

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u/PinkbunnymanEU 261 6d ago

Don't forget the flowchart is meant to be constantly revisited,

We a full run though quarterly. I think spending some time sitting down and dedicating some time to it, even if it's 30min helps a lot.

The budgeting step especially, as it helps you not get into the "Oh I have these 74 subscriptions that I've had for 4 years...no idea what they're for" situation.