A lot of people don’t know where to start with financial planning; as a family financial planner, I’ve worked with people at all stages of life with different lifestyles, incomes, family sizes, and goals.
I’ve created a helpful flowchart, and it’s available for anyone looking for better comprehension of their current situation. Going through the flowchart is a quick and easy method for you to understand the key aspects of your financial situation so you can move forward with your financial goals!
Planning Your Finances – What to keep in mind:
🤓 Understanding the basics (balance sheet, cash flow, inflation, growth, etc.)
🪙 Do you need to identify and prioritize your financial goals?
💰 Do you need to save for a major expense? – college, car, house, wedding
🌴 Are you able to start saving for retirement? Do you understand the different methods?
📊 Are you evaluating your income vs. expenses?
🧾 Do you need to create and monitor a budget?
💸 If you’re able to start saving, are you looking for strategies to decrease your income tax liability?
To see a full breakdown of each of these, download my chart below 👇
