Billed as the ideal timeframe to change your life plan and become wealthy, a five-year plan can help you determine what your financial future should look like. In five years, you can go from broke and saddled by debt to having financial stability and living a debt-free life.

To get yourself out of debt and into better financial security, make sure you have a plan, since it won't just happen by itself. It's also going to take a lot of hard work and dedication. To be successful, follow these steps to implement your five-year plan:

Write down your goals. List your goals in order of priority, and be specific. You can't just declare that you want to purchase a house without stating how you'd like to save the money to do so. As you go through your list, include categories you'd like to focus on, such as reducing debt, starting a business, saving for travel, or paying off education loans.

Determine what your goals will cost. Some goals might not cost a penny, while others might come with a steep price tag. If you're looking to start a business, you might need careful financial planning. Place an estimated budget next to each item on your list along with the timeline you hope to accomplish them.

Track your progress. After writing down your goals and beginning to work toward them, start tracking how you're doing. After all, you'll never know how close or far away you are from achieving them unless you keep tabs on them.

Dive into areas to help you succeed. Don't be afraid to seek help from those in the business to help you attain your goals. Are you a fan of a certain professional? Read the book or listen to the podcast. Immerse yourself in helpful material.

It's never too late to take stock of your financial future. Take a look at your financial goals and what you hope to accomplish, and get started on your five-year plan today.

Sources: Easybudgetblog.com, Clevergirlfinance.com, Moneyunder30.com