Creating a Financial Plan

Developing Your Plan
Creating a financial plan begins first by assessing your current financial situation. Take a monthly outlook of your assets, liabilities, income and expenses. Good financial signs are positive net worth (the difference between assets and liabilities) and having greater income than expense. This will be your ultimate goal.

Your Goals
Next step is to set your financial goals. Write down what you'd like to accomplish. Your goals should be specific, realistic, and measurable.  Write each goal down and set a deadline. This will keep you focused.

Once goals have been established, you need to identify ways in reaching them. Asking for ideas can be helpful whether it's from a friend, family member or financial advisor.

FinanceWorks
Measuring your progress and keeping track of your expenses is important. Sperry has a tool in PC-24 called FinanceWorks. It is a personal finance management tool which gives you the ability to manage your Sperry accounts plus accounts from more than 5,000+ other financial institutions and creditors all in one place.  A complete financial picture allows you to see exactly where your money is going, if you are making goals, the ability to consolidate bills in one place, set up alerts and email reminders and it even help small businesses manage their book keeping!

Following the Plan
A financial plan takes hard work, time and dedication. Stick to your plan, give it time to work and you will be on the road to financial success before long!