Do-It-Yourself Financial Planning:

How You Can Create a Successful Financial Blueprint for Life

Your ability to earn or save more money is dependent on your financial plan. This is the system behind everything you do financially. This includes your schedule for bills payment, the amount you allot for savings and investing, and how you use your credit cards and bank accounts.

If you want to create and execute a solid, automated financial plan, go over this 5-step tutorial:

Get a Reality Check

Ask yourself some hard questions. If you suddenly lost your main source of income, how long will you and your family last without asking for financial assistance from friends and family? Are you part of the 90% of Filipinos who DON’T save up for retirement? Do you have a will? (Click here to learn more)

Define Financial Freedom

Then, define financial freedom. Make sure your definition is as concrete as possible – include deadlines and specific amounts. Here’s an example: “Financial freedom means zero debt and earning at least P100,000 of non-employment income each month starting on January 2012.”(Click here to learn more)

Know Your Next Step

After you’ve defined financial freedom, determine where you are, you can determine the next stage you want to reach. There are several stages of wealth and you need to determine what your next stage should be and when you intend to achieve it.(Click here to learn more.)

Plan for Your Future Big Ticket Items

These may include a home, car, a wedding, children, retirement, etc. You need to plan for these years in advance if you don’t want to be caught by surprise. (Click here to learn more.)

Create a Financial Plan in 1-hour with a Money Map

The best way to implement your financial plan is to make a simple “map”. this helps you identify opportunities to automate the crucial aspects of your financial life – from paying for bills to saving, and even investing. Just set your money map and forget it.(Click here to learn more)