Important parts of a planFinancial plan is a flow of money. It must have 2 major items: incomes and expenses. Let's stick with these two for now.
Building a plan
Plan incomesFor most of the people it's the easiest part. We are employees, have a fixed salary. Probably, some income from real-e-state objects we lend, or dividends. Such things is easy to plan.
What if we run a business? Then we should have a rough estimate. Or get some vision based on previous year. Or, at least, our earning goal.
Pay debtsThis is the most important part of the expenses. Debts is the main pressure. If we don't have enough earnings - we can skip vacation, rent a cheaper apartment, sell the car. But debts must be paid in time. So plan this first.
TaxesAnother important thing is taxes. Not paying taxes is a crime. And this must be avoided. Let's plan this too.
Rental payments, public servicesRent an apartment? Plan the rental payments too if you don't like to live in a paper box under a bridge.
Also don't forget to plan the public services. You always can check out your last payments and see how much should be planned - such things we pay every month.
Other expensesFood, apparel, fuel, car service - just remind yourself what you paid for last weeks. If you forgot something - not a problem - you can update your plan later.
Just remember: having a bad plan is always better than having no plan!
Not able to plan myselfif this is the case, you still have few options:
hire a financial advisorAn advisor will investigate your financial status, history and will build a plan for you. Just do not forget to mention your financial goals to the advisor. And.. be ready to pay for this service.
collect statsJust live few months without a plan. But log all incomes and expenses you make. Then you will have data to create your plan.
Automate financial plan creationYes, this is also possible. Use The Finance Planner for six or more months logging all incomes and expenses. And then it will be able to create the financial plan automatically.
Also, if you would need assistance, you can hire a finance advisor right withing the Finance Planner.
Just check out this solution and you will see how easy it is to create your perfect plan!