Good Financial Reads: How To Make an Effective Financial Plan: Important Principles To Remember

2 min read
January 13, 2023

How To Make an Effective Financial Plan Important Principles To Remember

3 Steps to Turn Financial Goals into an Action Plan

by Dawn Mabery Chestnut, Mabery Consulting

The New Year is typically when we make resolutions and set aspirational goals.  As a solo entrepreneur, the beginning of the year is ideal for reviewing your personal and business financial progress and shortcomings and creating or adjusting your financial plan.  Here’s how I get started each year and a sample of how an annual financial plan might look. 

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Reasonable but Arbitrary: The Best You Can Do with Many Financial Decisions

by Meg Bartelt, Flow Financial Planning

Have you ever had questions like these about your own finances? Wondered how to figure out the answer?

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Change Your Financial Plan

by Joe Morgan, Best Financial Life

It might seem strange that I would suggest this given I don’t even know what your Financial Plan is, or even if you have one. But hear me out.

Financial Planning is all about Planning and Never about a Plan

If you have built a financial plan in the past, I would bet that it is outdated and worthless at this time. I can say this because every financial plan becomes worthless over time. What’s important is the process of planning.

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Focus on Actual Cash Flow

by Joe Morgan, Best Financial Life

A lot of people like to use rules of thumb with their finances. Don’t fall for that. You are not average. No one is.

If the goal is to do everything you want in life and die with at least a dollar in your bank account, there is a simple equation to know whether you are on the right track.

It’s what you have plus what you make minus what you spend.

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Following along with the blogs of financial advisors is a great way to access valuable, educational information about finance — and it doesn’t cost you a thing! Our financial planners love to share their knowledge and help everyone regardless of age or assets.

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