We live in a world where the demands of our professional and personal lives often compete for attention. With so many priorities to take care of, it can be difficult to make time to establish a set of personal financial goals and develop a plan for reaching them. But preparing for a secure financial future means taking time to plan now.

A systematic professional approach to the personal financial planning process can mean the difference between success or disappointment. And the reality is that it is never too late to start planning.

The financial planning process begins with an evaluation of your financial situation and ends with an individual plan tailored to meet your financial and personal goals. Successful financial planning includes cash flow management (budget), insurance analysis, college and retirement planning, and proper investing aimed at increasing your net worth.

Using an approach like the one presented in this section is a good start toward the development of a comprehensive financial plan that will help you achieve your life goals:

• Identify your goals
• Gather the necessary documents
• Determine your net worth
• Create a detailed, accurate budget
• Define the costs of your goals
• Assess your financial situation
• Develop your plan
• Take action
• Get help if you need it

Personal financial planning is one of the most useful tools for gaining financial security. Regardless of your age or stage in life, consider getting started and develop a plan. Try the steps in this section and the information provided in the other sections of this website and we believe you will be very happy with the results. At the very least, you will have learned a lot and you will have a basic plan for achieving your goals. Then if you decide to get professional assistance, which is very expensive, you will know what to expect and you will be able to understand the results.

Begin the process of developing your financial plan