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Creating a Financial Plan
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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.

Your Short-Term Financial Planning ActivitiesResources
1. Develop a filing system to organize your financial records and documents.PFP Sheet 14
www.quicken.com
www.kiplinger.com
2. Create a personal balance sheet and a personal cash flow statement.PFP Sheets 15, 16
www.money.com
www.lifeadvice.com
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
www.betterbudgeting.com
www.mymoney.gov
www.bls.gov/cex
4. Accumulate an appropriate amount for an emergency fund.www.clevelandsaves.org
www.moneycentral.msn.com
Your Long-Term Financial Planning Activities 
1. Set long-term financial goals related to education, housing, or retirementPFP Sheet 19
www.statefarm.com/lifevents/lifevents.htm
www.centura.com/tools
2. Develop a savings plan, such as automatic withdrawals, to achieve long-term financial goals.Text pages 95–98
www.asec.org





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