Essentially, the financial plan for young people follows the same approach as for everyone. It answers the questions:
Where am I now?
Where do I want to be?
How do I get there?

The difference in the plan for young people is that it should cater for their probabilities of needing provisions in the short and medium term.
The probable life-changing events which occur in the short term such as:
Buying a house
Buying a car
Getting married
Having children

The emphasis in the plan for young people is therefore on accessibility to funds. Which in financial speak is called liquidity.
The investment instruments should therefore allow access.
Unit trusts cater for this and are ideal starting points for young people.
Try to avoid policies as they are restrictive.
A retirement annuity, for example, binds you for too long into the future and if you need cash you won’t be able to access funds until 65.
Unit trusts allow you to stop and start without being penalized on your cash value

The risks that should be addressed in the plan are provisions for
Disability
Medical aid
Short-term cover for the car

Don’t ignore your pension fund benefits
As you may be duplicating on the disability cover