A personal financial plan is a document that demonstrates how you, with the help of your available opportunities (assets, liabilities, savings, income minus expenses) and with the chosen cash distribution strategy, will be able to take possession of the desired financial result. In addition, a personal financial plan can be targeted, retirement and anti-crisis. But these are all subspecies of an investment or a comprehensive plan.
Instructions
Step 1
A personal financial plan has its own characteristics. After all, different people have completely different income and expenses, pursue different financial goals, and also use different tools to achieve these goals. However, in any case, the creation of a personal financial plan includes several main stages.
Step 2
First of all, you should determine the goals for which you need a personal financial plan. They can be individual - from purchasing a fancy suit and washing machine to buying a villa in Haiti and sending children to study in Cambridge. If you take something in between, then you can formulate the following goals:
next year - buy a dishwasher; after three years - save up for the child to study at a paid institute; after seven years - buy a new car; to retirement - to have a specific amount in your bank account.
Step 3
The second step is to conduct a detailed analysis of all current income and expenses. Before proceeding to this, you should record all your income and expenses for a certain time (one or several months). As a result of the analysis, it is necessary to systematize and group the information obtained. For example: "they spent so much on food", "they spent so much on fuel for the car", "they spent so much on utilities."
Step 4
In the third step, you need to create a list of articles of your personal financial plan. This is where the information that was obtained as a result of the analysis, grouping and systematization of all income and expenses will come in handy.
Step 5
The fourth step is to determine the planning period for which the personal financial plan will apply.
Step 6
And the last, fifth stage of creating a financial plan is filling in all budget data with separate, specific indicators, in other words, you need to enter a specific numerical value for each budget item. For example: under the item "Salary" the planned income is 50 thousand rubles, under the item "Food" the planned expense is 10 thousand rubles.
