what's your financial plan?

“The best financial plan has nothing to do with what the markets are doing, nothing to do with what your real estate agent is telling you, nothing to do with the hot stock your brother-in-law told you about. It has everything to do with what’s most important to you.”

― Carl Richards, The One-Page Financial Plan

In order to reach our goals, we need to have a clear understanding of our assets and liabilities. In that way, we get to know our current net worth and a clear picture of where we are right now. Once we have this information, we become better equipped to take the next action steps in our financial journey. Goal-setting is powerful, but we also need to understand that our future is unpredictable. Our goals may change over time, and they’re not set in stone. We need to be flexible.

Financial success can become a possibility if you know how to budget wisely. This involves tracking your spending and measure that against your goals and adjust accordingly. Our investments should always be driven to make profits and reach our financial goals.

There is no one-size-fits-all approach to making a financial plan. First, we need to figure out what our needs are and ask ourselves some deep questions: Why is money important for me? What are the goals that I’m trying to achieve? Are these goals in alignment with my core values, and are my current actions congruent with them?

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