How to Write a Personal Financial Plan (with Pictures)

Elroy Mariano

About This Article Certified Financial Planner & Accountant This article was co-authored by Ara Oghoorian, CFA, CFP®, CPA. Ara Oghoorian is a Certified Financial Accountant (CFA), Certified Financial Planner (CFP), a Certified Public Accountant (CPA), and the Founder of ACap Advisors & Accountants, a boutique wealth management and full-service accounting […]

About This Article

Article SummaryX

To write a personal financial plan, start by making a list of your assets, such as money in the bank or real estate. Then, write a list of any liabilities you have, such as credit card debt or a student loan. Next, subtract your liabilities from your total assets to calculate your net worth. Once you know your net worth, create specific goals for your money, such as the ability to buy a house or take a European vacation. Then, decide how you’ll set aside money towards these goals, like spending $80 less per month and putting that money in a savings account. For advice on how to know if your current financial plan is working well for you, read on!

  • Print
  • Send fan mail to authors
Thanks to all authors for creating a page that has been read 288,555 times.

Source Article

Next Post

Business Plan Template for Small Businesses and Entrepreneurs: Free Download

Writing a business plan can seem like a big task, especially if you’re starting a business for the first time and don’t have a financial background. Even if you do have some experience, getting a refresher on what a modern business plan looks like is always a good idea. After […]