While you can certainly build a financial plan, a financial pro can help ensure that your plan covers all the essentials. One way to get this done is to review your checking account and credit card statements. Collectively, they should provide a fairly complete history of your income and spending in a wide range of spending categories. Documenting your personal cash flow will help you determine how much you need every month for necessities, how much is available for saving and investing, and where you can cut back on spending. Financial planning also means looking out for your future needs, as well as mapping things out for your loved ones.
What are the 6 aspects of financial planning?
The financial planning areas include financial management, insurance and risk management, investment planning, retirement planning, tax planning, estate planning and legal aspects.
A financial plan should include financial goals, a net worth …