Basic Steps to Completing a Financial Plan

One of the main reasons most people do not achieve their financial or personal goals is because they have'nt made a Plan. That's why the team at MCKFS firmly believe 'everyone needs a plan'!

So if you are thinking of developing a financial plan for yourself, here's a summary of the basic steps you will need to follow to make your Financial Plan a reality:

1. Write down a list all of your objectives (financial and personal; the cost; and the date due)
2. Write down details of your financial circumtances (what you own; what you owe; what you earn; and what you spend)
3. Write down a list of the strategies you will follow to achieve your objectives (i.e. how will you achieve your objectives - save; borrow; invest; sell assets?)
4. Write down a summary of your cash flow (what is your income - and when is it received?; what are your expenses - and when are they due?)
5. Write down your financial plan (a summary of your plan: objectives; financial details; strategies; cash flow - include key dates, so you can check your progress)
6. Write down the dates when you will check your progress (and make sure you are on track to achieving your objectives)

You will notice I have used 'write down' in each of the above steps. That's because in order to make it a reality, you have to write it down!

Sounds easy, doesn't it?  But, if you are like most people, you either don't have the time, or you don't have the expertise (or both!) to prepare your own financial plan. But don't despair, because MCKFS can help!

The team at MCKFS have over 20 years experience in all things financial and can develop a comprehensive Financial Plan just for you - because everyone needs a plan. Contact us today to arrange your free financial assessment appointment, and take the first step to making your plan a reality!