Your finances and your stage of life are inextricably linked. Therefore, no financial plan is complete without a thorough analysis of your life circumstances; where you are now and where you want to be.

For anyone who's never used a financial planner, it may not be obvious how they can benefit from financial planning advice. The fact is, you can benefit from financial planning no matter what stage you are in life.

To find out more about how financial planning relates to your stage of life, select the relevant option below.

First job

Few moments in life match the feeling of exhilaration and freedom of landing your first job. For most it's a time of excitement and becoming financially independent for the first time.

However the biggest challenge of this life stage is often finding enough money to pay for the expenses that tend to go hand-in-hand with the youth lifestyle.

A financial planner can help start you out on the right foot and show you how to avoid the credit/ spending trap through budgeting and saving tips. If you've already fallen prey to the debt devil, your financial planner can assist with debt management solutions.

If you're dreaming of a new car or an extended overseas holiday or saving for your first piece of real estate, your financial planner can help you reach your financial goals faster with appropriate wealth management strategies. It's also worth discussing with your financial planner whether you should be making extra contributions to your super and whether income protection insurance is a viable option.

At this stage in your life, you're in a great position to ensure you stop bad financial habits before they start and achieve all you want throughout life!

Buying a home

Whether you're buying your first or subsequent home, this can be a daunting stage of life. With the endless property inspections, visits to the real estate agent and disappointments when you can't find the place you're looking for - it can be quite stressful as well.

It's hardly surprising, given that your home is usually the biggest investment of your working life. Accordingly, this is a critical time to ensure your finances are well under control.

If you're a first home buyer your financial planner can help you secure your deposit sooner with wealth management strategies. If you're not satisfied with your existing mortgage, your financial planner can assist with debt management and help you find the right lender for you.

With the new ownership of such a large asset, it's also worth discussing income protection, life insurance and estate planning with your financial planner. Could you manage the monthly repayment if you became unexpectedly ill? Would your family be able to keep the house if you prematurely died? It's not the most appealing subject compared with colour choices and new kitchens, but it's a very important part of securing your financial future.

Changing jobs

Changing jobs - whether voluntarily or involuntarily - is usually a time of conflicting emotions. While facing something unfamiliar can be unsettling, it's certainly an opportunity for new beginnings.

If you're starting a new job, chances are you will consider rolling over your accumulated superannuation into another fund to minimise administration costs. You may also find that your new employer offers salary packaging.

If you receive a redundancy or retrenchment package, your financial planner can ensure that you make an informed decision about what you will do with the payment.

Your financial planner can help ease this transition by advising you on the most appropriate course of action in order to succeed in your overall financial goals.

Planning your retirement

For many people this is a really exciting time of life - a time when they start making lists of everything they want to see and do. Chances your children are independent, enabling you to save more for the future. Regardless of whether retirement is 10 months or 10 years away, it's never to soon (or late) to start getting serious about retirement planning.

Your financial planner can help you make sense of the vast array of information that bombards pre-retirees and offer strategies to help maximise your retirement income.

If you still have a mortgage, speak to your financial planner about debt management and strategies to pay off your debt sooner - you may be surprised at how much you can save.

Of course, this is the time you need to feel confident that your superannuation is under control. Your financial planner can help you find out just how much money you will need to fund the retirement you've dreamed of. If your spouse is not working it may be worthwhile making spouse contributions.

This is also the time that some people wonder about their eligibility for social security benefits. Depending on your circumstances your financial planner can structure your finances so that you are eligible for the age pension.

Paying off debt

Whether you're drowning in debt and need solutions now, or you're just seeking the freedom of being debt-free (or at least debt-reduced), a consultation with your financial planner can significantly improve your position.

If debt is providing personal hardship for you and your family, there is light at the end of the tunnel. Speak to your financial planner about strategies and options for managing your debt.

If you are planning for retirement, now is an ideal time to fast-track your mortgage repayments and move towards a debt-free existence.

Starting or selling a business

More and more people are choosing the lifestyle benefits of self-employment and small business ownership. While starting your own business is an exciting experience, it helps to engage a professional financial planner to provide specialist advice before you leap into the unknown. And being so busy you will welcome as much support and assistance as you can get! If you're still in the 'dream phase' speak to your financial planner about wealth management strategies to help you start your business sooner. Likewise, if uncontrolled debt is threatening to destroy your dream, seek debt management advice and get your finances on the right track.

Just because you're self-employed doesn't mean you're not going to retire, so you need to make superannuation contributions. Your financial planner will help you choose the right option for you. If you have employees, your financial planner can assist you in meeting your business superannuation obligations and provide your staff with salary packaging solutions. It's also worth considering income protection and financial strategies to help maximise your income and minimise your tax. Life insurance and estate planning are also important considerations in ensuring your business and family are protected.

When it's time to sell up, your financial planner can help you determine the best way to utilise the capital to meet your overall goals, whether it be investments, super, or paying off debts.

Starting a family

Starting a family is perhaps the biggest commitment you will make in your lifetime. The responsibility of caring and providing for a baby through to adulthood is an enormous one. Now more that ever you will feel the demands on your income. For many people, starting a family means going from dual income to a single one - at least for a period of time. For some, starting a family means buying a bigger house. Now is the time to speak to your financial planner about debt management and find out if you are with the most appropriate (not just the most convenient) lender for you.

Once a new baby has arrived, it's natural to feel a strong need to protect one's family. This is the time that people get serious about estate planning, income protection and building wealth to secure their children's education and financial security.

Time for a sea change

For many people, there comes a time in their life when they actively seek change - to break free from the 'everyday'. For some it involves travel, a change of location or completing an unfinished university degree. For others it's the desire to quit their day job and start a more fulfilling, alternate career. However such fundamental life changes usually come at a cost and can make big demands on one's finances.

If you're still in the 'dream phase', speak to your financial planner about wealth building strategies to enable you to make that change sooner.

If you are facing reduced income, you may have concerns about living on a limited income. Your financial planner can assist with tips and strategies for budgeting and avoiding the pitfalls of living on credit.

If you are paying off a mortgage, one of your biggest concerns will be your ability to make your repayments. Speak to your financial planner about debt management and find the most suitable lender for your circumstances. If you're not yet at retirement age, it may be appropriate to speak to your planner to ensure you don't fall behind in building your superannuation nest egg.

If your sea change involves selling up your home or property, your financial planner can explain your options with regard to investing the capital, so you can be sure your money works hard for you.

Separation and divorce

This can be one of the most difficult and painful times a person will ever live through. It's an unpleasant thought but unfortunately not an uncommon experience, and the financial stresses certainly don't make it any easier.

Perhaps the biggest financial hurdle is the cost of running not one but two homes. Speak to your financial planner about budgeting tips and debt management strategies to enable you to find a lender that can accommodate your changed circumstances. Divorce is also a life moment when people are faced with the prospect of writing a new will and adjusting existing financial arrangements. Your financial planner can help you with estate planning, and assist you with any questions or concerns you may have about your current income protection, superannuation, general investment and life insurance arrangements.

Bereavement

Whether it's sudden, or after a period of illness, or following a long and mainly healthy life, the loss of a partner always comes as a blow. It's an agonising time for surviving relatives and often compounded by additional financial pressures. If the deceased hasn't made adequate arrangements, the family may be left to find enough money to pay funeral costs. In this situation you can speak to your financial planner about strategies to cover this unexpected cost.

If there are dependants, your financial planner can assist with investing the inheritance to secure their financial well-being, and providing budgeting strategies that take into consideration their altered financial circumstances. If there is a surviving spouse there may also be decisions to be made about superannuation, retirement income and social security issues.