Financial planning is a process for creating, assessing, and realizing financial goals. A financial plan is meant to give you control and peace of mind for the long term by focusing on action in the near term.
* Identify the aspects of your life that are most important to you.
* Establish and prioritize the financial goals that support this life.
* Determine what can be done now and in the future to improve your financial situation - or what should NOT be done!
* Decide among alternatives to get to where you want to be (the plan).
* Develop a system for tracking and monitoring the plan.