The Best Proven Strategy for Financial Planning (The Money Plan)

The Best Proven Strategy for Financial Planning (The Money Plan)

Building your successful financial plan needs an understanding of your current financial situation and looking at the different investment options. Also, monitor your financial plan regularly.

I remember those years when I experienced being broke and living paycheck to paycheck. It was really hard for me having two kids and not being able to easily provide for their needs that’s why financial planning is important in our daily life regardless of what age, income, or marital status, we need to have a financial plan that will help us to be in control of our investments, income, and expenses to achieve our life goals.

You must give yourself some quiet time to think if your goals are for the long-term or short-term. Either way, you need to consider these possibilities:

• Short-term goals

Short-term goals can be reached in a year or so. You must create an emergency fund that can cover three months of your living expenses. Don’t forget to create and follow a budget.

• Long-term goals

For long-term goals, you must start to save 10% of your gross salary every year to be ready for your retirement.

Some women think, building a financially secured life is very difficult. Actually, it is not. You just need a plan and the right strategy for financial planning. Don’t let yourself be stressed by searching for a proven strategy! The answer is already here, The Money Plan.

I discovered “The Money Plan” and it became the stepping stone that worked to me and to those women that I helped to use my proven plan to achieve their financial goals. One of the Best Proven Strategy for Financial Planning is to just do it and stay at it.

Let me share some benefits of having a strategy on your financial plan.

The Best Proven Strategy for Financial Planning: The Benefits

• Have a Peace of Mind

If you have inadequate cash, it will be hard for you to invest for your family, future goals, and yourself. I recommend the Highlighter Exercise for your financial plan that will help you to manage your finances efficiently so you can enjoy peace of mind.

• Always Be Prepared

Being always prepared for an emergency is very important during this time. You must ensure that you have an emergency fund that will at least last for 6 months so you will not worry about anything.

• Increased Savings

When you are planning to create a financial plan, you must have an insight to your income and expenses that will allow you to track everything consistently. 

The Best Proven Strategy for Financial Planning: THE MONEY PLAN STRATEGY

• You Need to Create Budget 

Your budget creates the foundation for your other financial actions and this will allow you to see the problem areas to correct them. Most importantly, you will learn to differentiate your needs and wants. You can distinguish “Needs” when it is a “Must” and when it is “Desire to have” it is your “Wants”.

• Make your cash go further

Think of your daily expenses. You need to be strategic and resourceful when you spend on what you want. Don’t be a one-day millionaire.

• Make an Emergency Fund

An emergency fund doesn’t happen overnight and it is a part of your financial planning. It’s crucial to have an emergency fund especially we have a pandemic right now and it reminds us that we cannot predict what will happen.

• Checking your Insurance Plans

If your regular emergency fund is not able to cover you, it is important to have a backup. Go check and review your insurance coverage to be sure that you are covered.

• You must Learn to Differentiate Good Debts and Bad Debts

Bad debts will give you a burden by having high-interest rates, no tax benefits, and no hopes for applications when it comes to good debts it has low-interest rates, tax benefits, and supports your investments.

• Know your Credit Score

You must take advantage of the credit report offered to you and always keep in mind that a high credit score makes it easier to get loans, credit cards that have more appealing interest rates.

• Pay your Debts

This is one of the most important things to do in financial planning. You need to pay your debts. If you are not going to pay your debts, it will increase over time. Use the snowball method to effectively pay your debts. We fully explain the snowball method in our 7 Day Challenge.

Some women think that building a financially secured life is difficult but it is actually not. You just need the

The Best Proven Strategy for Financial Planning is “The Money Plan”.

Use our Digital Planner as your guide to implement the best-proven strategies and see the difference in your financial situation!  Download your digital planner here.