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6 steps to a successful financial planning

Most people’s dream is to have a balanced financial life, isn’t it? Many people fail to achieve this dream due to lack of planning and to go beyond what their budget and monthly income allow.

The truth is that there are not many secrets to saving money. With this article, we will help you to demystify the domestic financial economy and prove that everyone can save if they follow the steps below.

  • Set goals and plan long, medium and short term plans

What do you aim for in financial terms 10, 20 years from now?

Where do you want to be in 1, 2 and 5 years from now?

How much money do you want to have on each of these years?

What are your long term goals? Are you going to learn how to buy amc stock? Or hire a financial advisor?

Your goals should be guided by the answer to each of these questions. Of course, these are hypothetical questions, but they serve as a foundation for you to set well-defined objectives and goals of time and financial situation at each moment of your life, so that you and your family have security and financial stability in the present as well as in the future.

  • Create and update your budget

When we think about financial planning, we immediately think about income, expenses and calculations.The creation or update of your budget, whether monthly, weekly or yearly, is extremely important for good planning.

If you have not yet created and if you want to organize your finances, there is no other option than to prepare a good and complete household budget.

Typically, budgets are made in spreadsheets and graphs for a better view of your expenses and income.

  • Debt control

Debts can become big villains very quickly in any financial planning if there is no control.

Credit card interest and financing installments, for example, are examples of expenses that can grow very quickly and become a major problem if left unchecked.

So, in order to be able to proceed with the financial planning already outlined, it is essential that all debts that are in force are being portrayed clearly so that there are no surprises in the budget already established.

  • Emergency fund

In addition to the great need to prepare budgets according to the time and size of each plan, experts on the subject also recommend that there be, within your budget, a space for emergency reserve.

The ideal, according to experts, is to have as a reserve the equivalent of three to 12 times your monthly expenses. Depending on your situation, however, this period may be shorter or longer, this varies according to what you think is necessary and you want to reserve for this purpose.

  • Have discipline

Financial planning is not easy. There is no magic formula that does it for you.

It takes a lot of discipline to follow your budget and not run away from your purpose. But make no mistake, you will most likely go out for a while, but the most important thing is always, even after some unnecessary slips and expenses, return with all your breath to your expense spreadsheet and always continue with total focus on your planning.

  • Financial education

All the steps mentioned above are extremely important, but investing in financial education is perhaps one of the most relevant in this moment of crisis that the planet is going through.

With the pandemic, some people lost some sources of income and needed to reinvent themselves to acquire new ways to earn money to stay within their budgets.

So, learning to invest your money in good investments is extremely necessary both for generating extra income and for protecting capital in the long and medium term. Well-done financial education is a great differentiator for any and all financial planning.

Investing in newer avenues that promise substantial returns is starting to see a significant rise; for example, many people are turning towards cryptocurrency as a means of investment. However, when such new investments are considered, it is important to understand as much as possible about it before investing.

Looking at helpful resources such as a Swyftx review online and the many other informative articles can be a good start.


Financial planning can be very laborious, but it will be worth all the effort when it comes time to reap the rewards of the budgets and plans already made and executed throughout the period.

To make planning easier, there are now spreadsheets that do all the calculations and help you with the generation of graphs so that you can visualize in a more didactic way what you need to do and how much it is necessary to save at each stage.

We, at Adnia Solutions, have developed an exclusive template for this type of activity. The Advanced Personal Budget Template is an excel spreadsheet that facilitates the preparation of your financial planning and, only with the data entered by the user, automatically generates graphs and visual resources to facilitate the understanding of your expenses.

With the template, you can plan your finances for a period of up to 5 years. All of your plans can be easily designed and accessed in a simple and accessible way.

Download now: https://adniasolutions.com/excel-templates/advanced-personal-budget-excel-spreadsheet-template/

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