I’m thrilled to welcome back my fierce friend, Peggy Doviak, to share her wisdom on how to create a financial plan.
Peggy is the author of 52 Weeks to Prosperity along with other blogs posts you can find on Fierce Beyond 50 like: paying for college, advice about prosperity vs. money, setting financial goals, saving for retirement and curbing your holiday spending. She has a wealth of advice and we’re all better served by having a professional like Peggy in our corner!
Is there anything more fun than college football? Possibly, creating a financial plan. You don’t agree? You might be surprised to learn that football and finance have more in common than you might think. They both require a good offense, a solid defense, and some effective special teams.
Here’s how to create a financial plan that will set you up for success!
Football Starts With Offense
To play financial offense, you have to be proactive with your money. Your game plan begins by creating a budget. Take a nonjudgmental look at both your income and your spending. Once you know where you are, organize your information into expense categories and reasonable targets. You can make some spending adjustments if necessary.
Your budget and cash flow analysis provide the information that will drive the creation of your emergency fund, life insurance needs, and retirement requirements.