The Flowchart

Have you seen the flowchart? ⤵️

(If your device does not support the format below, you can find an image version at https://flowchart.ukpersonal.finance)

The r/UKPersonalFinance Flowchart v3.0.5
The r/UKPersonalFinance Flowchart v3.0.5
🏁 Start here 🏁
🏁 Start here 🏁
A starting point for your financial planning journey.

Overwhelmed? Don’t worry. Take your time, one step at a time.

Read our wiki at https://ukpersonal.finance, and ask questions
A starting point for your financial planning journey….
STEP 2
Emergency fund
STEP 2…
Yes
Yes
Ensure you are (auto)enrolled
in workplace pension. Contribute enough to receive the maximum employer match, if you can afford to do so

ukpersonal.finance/pensions
Ensure you are (auto)enrolle…
STEP 3
Pension enrolment
STEP 3…
Build a small emergency fund
(1-3 months of outgoings)

ukpersonal.finance
/emergency-fund
Build a small emergency fund…
The latest version is always available at:
https://flowchart.ukpersonal.finance (image version for easy sharing)
https://ukpersonal.finance/flowchart (interactive version with clickable links and screen-reader compatibility)

The flowchart is for information only and the authors assume no liability for your actions.
This is not financial advice and should not be taken as such.
Always do your own research and make fully informed decisions.

Created by the members of the UKPF Discord.
The latest version is always available at:…
Do you have any
short-term debt?
Do you have any…
Overpay debts, focusing on one at a time. Refinance to cheaper interest rates if/when available

ukpersonal.finance/debt
Overpay debts, focusing on o…
Yes
Yes
Build emergency fund to 3-12 months of outgoings, depending on personal circumstances

ukpersonal.finance
/emergency-fund
Build emergency fund to 3-12…
No
No
Focus on:

• S&S ISA
• S&S LISA (for deposits for a first home worth <450k)
• General Investment Account (if ISA allowance used up)

ukpersonal.finance
/investing-101
Focus on:…
Focus on:

• Workplace pension 
• SIPP
(If in 40%+ tax brackets, claim additional relief)
• S&S LISA (see wiki for drawbacks)

ukpersonal.finance/pensions
Focus on:…

STEP 4
Pay expensive debts

STEP 4…
STEP 5
Full emergency fund
STEP 5…
STEP 7
Short-term goals (<5 years)
STEP 7…
No
No
Are your
short-term goals
on track?
Are your…
Save for goals within 5 years:

• Cash LISA (for deposits for a first home worth <£450k)
• Savings accounts
• Premium bonds

tinyurl.com/MSESavings
Save for goals within 5 year…
Savings required before
pension access age (~58)
Savings required before…
STEP 8
Long-term goals (>5 years)
STEP 8…
Assess overpayment benefit based on your goals and preferences:

• For student loans, see:
student-loan-calculator.co.uk

• For mortgages, see:
ukpersonal.finance
/mortgage-overpayments
Assess overpayment benefit b…
No
No
Yes
Yes
Do you have any
debt?
Do you have any…
Yes
Yes
STEP 6
Define goals
STEP 6…
Review your budget. You are now in a better position to increase your discretionary spending if you wish

ukpersonal.finance/spending
Review your budget. You are…
Define your financial goals, including the amounts needed and target dates

ukpersonal.finance
/financial-goals
Define your financial goals,…
Create a budget

ukpersonal.finance/budgeting
Create a budget…
STEP 1
Budget, pay necessary bills and expenses
STEP 1…
Seek debt counselling from a reputable charity:

stepchange.org.uk
Seek debt counselling from a…
Make minimum
payments on all debts
Make minimum…
Insure essentials (car, home, etc). Also consider insurance for life, income, etc

ukpersonal.finance/insurance
Insure essentials (car, home…
Check eligibility to state financial support

entitledto.co.uk
Check eligibility to state f…
Prioritise important bills, eg:

• Council tax
• Food
• Mortgage / rent
• Transport for work
Prioritise important bills,…
Do you rely on
credit cards or loans for
essentials?
Do you rely on…
Do you have any debt
over 10% APR?
Do you have any debt…
Overpay debts, focusing on one at a time. Refinance to cheaper interest rates if/when available

ukpersonal.finance/debt
Overpay debts, focusing on o…
Yes
Yes
I can’t afford to
I can’t afford to
Savings required after 
pension access age (~58) 
Savings required after…
 Make long-term investments in low-cost index funds. Select the most tax-efficient investment accounts for your goals and circumstances.

ukpersonal.finance/
isa-vs-lisa-vs-pension
Make long-term investments…
No
No
No
No
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