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Creating a Financial Plan
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Developing Personal Financial Statements and a Spending Plan

Money management activities are the basis for most financial planning activities. Creation of a financial document filing system, a personal balance sheet, a cash flow statement, and a budget provide you with tools for setting, implementing, and achieving financial goals.

Short-Term Financial Planning ActivitiesMoney Management Websites
1. Develop a filing system to organize your financial records and documents.PFP Sheet 14
2. Create a personal balance sheet and a personal cash flow statement.PFP Sheets 15, 16
3. Based on your current financial situation, set short-term financial goals and develop a budget. Monitor your spending for various categories.PFP Sheets 17, 18
4. Accumulate an appropriate amount for an emergency fund.Page 82
Long-Term Financial Planning Activities
1. Set long-term financial goals related to education, housing, or retirement.PFP Sheet 3
2. Develop a savings plan, such as automatic withdrawals, to achieve long-term financial goals.Pages 88–89





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