Financial Planning

Sound financial planning takes several steps.

This page covers the high level steps to accomplishing this task. The hot linked pages will cover each of these topics in more detail.


“Fortune favors the prepared mind”
- Louis Pasteur



Step 1 –Income and Expenses
Determining your monthly income and expenses is an important first step in establishing a strong financial road map. If your expenses exceed your income, you will be going into dept each month. This isn’t good. You will need to make adjustments as quickly as possible to move into positive territory.


Step 2 - Net Worth
Determining your net worth is the second step in establish your financial health. From this baseline you can then map out your financial goals. Like any worthwhile trip, if you don’t know where you are starting from, it is tough to know how to get to your destination.


Step 3- Financial Goals
What are your financial goals? The purpose of this section is to help you to start mapping out your financial goals.

Too many people never define where they want to be financially and soundly end up where they don’t want to be!


Step 4- Budgeting Finances
Budgeting effectively is a powerful fourth step in establishing strong financial goals. A responsible financial roadmap requires that you make informed choices on what you can afford, and what you can’t.


Step 5-Take Action
Once you firmly understand where you are financially, and have established your financial goals it is time to take action.

You may want to increase your income which will give you more options, you may want to start saving for that new car, home or education.

A financial road map with no action is a pipe dream. A financial plan with action is an exciting adventure.

This section has provided a brief overview of a very complex subject. Financial road-mapping is a lifelong project that needs to be modified and changed as needs, desires and personal circumstances change.

Financial success can’t be guaranteed, but it drives the odds in your favor. You can take charge of your own financial future.

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