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!
- Send fan mail to authors
Thanks to all authors for creating a page that has been read 288,555 times.
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 firm based in Los Angeles, California. With over 26 years of experience in the financial industry, Ara founded ACap Asset Management in 2009. He has previously worked with the Federal Reserve Bank of San Francisco, the U.S. Department of the Treasury, and the Ministry of Finance and Economy in the Republic of Armenia. Ara has a BS in Accounting and Finance from San Francisco State University, is a Commissioned Bank Examiner through the Federal Reserve Board of Governors, holds the Chartered Financial Analyst designation, is a Certified Financial Planner™ practitioner, has a Certified Public Accountant license, is an Enrolled Agent, and holds the Series 65 license.
Co-authors: 19
Updated: March 26, 2020
Views: 288,555