• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
Cult Of Money

Cult Of Money

Personal finance for the crypto-curious.

  • About
  • Podcast
  • Contact
  • Cryptocurrency
      • How To Start

      • What Is Cryptocurrency And How To Invest?
      • What Is Bitcoin And How Does It Work?
      • What Is Ethereum And How Does It Work?
      • Most Common Crypto And NFT Scams (And How To Avoid Them)
      • Proof Of Work vs. Proof Of Stake vs. Proof Of History
      • How To Invest In Crypto In Your IRA Or 401k
      • Tools + Resources

      • Best Cryptocurrency Exchanges
      • Best Cryptocurrency Wallets
      • Best Crypto Savings Accounts
      • Best Tax Software For Crypto And NFT Traders
      • Reviews

      • Coinbase Review
      • Gemini Review
      • BlockFi Review
      • Binance Review
      • Hodlnaut Review
      • Ledger Wallet Review
  • DeFi
      • How To Start

      • What Is DeFi?
      • What Is Staking Your Crypto?
      • Centralized vs. Decentralized Exchange
      • Tools + Resources

      • What Is Uniswap And How Do Decentralized Exchanges Work?
      • Reviews

  • NFT
      • How To Start

      • What Is An NFT?
      • Tools + Resources

      • Most Popular Play-To-Earn Crypto Games
      • Popular Projects

      • What Are VeeFriends And Are They Worth It?
      • Bored Ape Yacht Club NFTs Are Popular (And Expensive)
      • What Is The Sandbox And How Can You Play?
      • Why Visa Bought A CryptoPunk
  • Investing
      • How To Start

      • Tools + Accounts

      • Reviews

  • Personal Finance
      • Banking

      • Best Bitcoin Rewards Checking Accounts
      • Tools + Resources

      • Tax

      • Income Tax Prep Guide
      • Bookkeeping And Accounting For Crypto And NFTs
Retirement Planning

How to Craft Your Own Financial Plan

By Alexa Mason • August 4, 2015

At The Cult of Money, we want to help you navigate your finances. To do this, many or all of the products featured here may be from our partners whom we receive compensation from. This doesn’t influence our evaluations or reviews. Our opinions are our own. Learn more here.Advertiser Disclosure

There are thousands of financial products and services out there, and we believe in helping you understand which is best for you, how it works, and will it actually help you achieve your financial goals. We're proud of our content and guidance, and the information we provide is objective, independent, and free.

But we do have to make money to pay our team and keep this website running! Our partners compensate us. CultOfMoney.com has an advertising relationship with some or all of the offers included on this page, which may impact how, where, and in what order products and services may appear. The Cult of Money does not include all companies or offers available in the marketplace. And our partners can never pay us to guarantee favorable reviews (or even pay for a review of their product to begin with).

For more information and a complete list of our advertising partners, please check out our full Advertising Disclosure. CultOfMoney.com strives to keep its information accurate and up to date. The information in our reviews could be different from what you find when visiting a financial institution, service provider or a specific product's website. All products and services are presented without warranty.

Having clear goals and organized finances will help you stay motivated when times get to tough. Here's how to craft your own financial plan that will keep you organized.Personal Finance is basic. It really, really is. There are only a few things you need to do in order to be financially successful. And while all of these things are simple they aren’t necessarily easy.

In order for your financial life to be successful you need to have a plan. This plan outlines all the basic steps of personal finance but is designed specifically to benefit your life.

Here’s how to craft your own financial plan.

Your Financial Plan Basics

The point of creating your own financial plan is to ensure that you meet the financial goals you have. It will be one place where you can view a snapshot of your personal finances.

Here are some things you can include:

  • Your Goals
  • Your Current Income and Future Income Goals
  • All Savings and Investment Balances
  • Debt Pay off Plans
  • Saving and Investing Plan
  • Your Monthly Budget

How to Put it All Together

The Best Way to put everything together is to purchase a three ring binder and some divider tabs for different sections.

After that you’ll make a customized page for each section using Microsoft Word or similar program.

Goals: Use this page for motivation. List out all of your short term and long term goals and give each goal a deadline. Some examples will be paying off your credit card debt in six months, saving $50,000 for each of your children’s college educations, saving one million dollars for retirement, and so on.

The most important thing is that your goals are true to where you want to be in life.

Income: Make a page to highlight your current income, income sources, and future income, career or business aspirations.

Savings and Investments Page: Create a spreadsheet where you can record the amounts you have in savings and investments. Update your spreadsheet at least every three months so you can look at all of your balances together to see if you’re on track with your goals.

Debt Pay-Off Plans: If you have debt you need to create a page where you can record all of your debt balances. You also need to make a debt payoff plan. You can do this by using the debt snowball, debt avalanche, or something complete different.

Saving and Investing Plan: This is another page where you’re going to break down your goals into an actionable plan. Take a look at your goals and create targeted amounts of money you should be saving or investing each month in order to meet your goals.

Your Monthly Budget – This is where everything comes together! On this page make a budget that reflects all of your current monthly expenses and then add in a line item to meet your goals. If you have many goals you’re not going to be able to work on them all at once so be sure to go through them in order of importance.

A Financial Plan Will Help You Stay Organized and Motivated

Personal finance really is simple. There’s only a few things you need to know in order to be successful. The hard part about personal finance comes with the execution.

By creating a financial planning binder you’ll be able to keep all of your ideas together in a neat, organized way that’s sure to keep you on track!

Alexa Mason
Alexa Mason

Alexa Mason is a freelance writer and wanna be internet entrepreneur. She is also a newly single mom to two beautiful little girls. She chronicles her journey as a single mom trying to make it big at www.singlemomsincome.com.

Editorial Disclaimer: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, or other advertiser and have not been reviewed, approved or otherwise endorsed by any of these entities.

Comment Policy: We invite readers to respond with questions or comments. Comments may be held for moderation and are subject to approval. Comments are solely the opinions of their authors’. The responses in the comments below are not provided or commissioned by any advertiser. Responses have not been reviewed, approved or otherwise endorsed by any company. It is not anyone’s responsibility to ensure all posts and/or questions are answered.

Primary Sidebar

  • Facebook
  • Instagram
  • Pinterest
  • RSS
  • Twitter
  • YouTube

Editor’s Picks

  • 8 best cryptocurrency exchanges ranked

    8 Best Cryptocurrency Exchanges Ranked For 2023

  • crypto savings accounts

    6 Best Crypto Savings Accounts For 2023

  • Cryptocurrency Bonus Offers

    10 Best Crypto Promotional And Bonus Offers

  • best crypto wallets

    Best Crypto Wallets For 2023 (Software And Hardware Options)

  • Best Portfolio Trackers For Cryptocurrency And Stocks

    6 Best Portfolio Trackers For Cryptocurrency And Stocks

  • best tax software for crypto and NFT traders

    Best Tax Software For Crypto And NFT Traders In 2023

Popular Posts

  • proof of work vs. proof of stake vs. proof of history

    Proof Of Work vs. Proof Of Stake vs. Proof Of History

  • Why I Bought An NFT

    Why I Bought An NFT [And 5 Reasons You Should Too]

  • My Dogecoin Experiment: What I Learned From Investing $2,000 In DOGE

  • common crypto and nft scams

    Most Common Crypto And NFT Scams (And How To Avoid Them)

  • Bookkeeping and Accounting for Crypto and NFTs

    Bookkeeping And Accounting For Crypto And NFTs

  • what is a 51% attack

    What Is A 51% Attack? (And How Is That Game Over For Crypto?)

  • what is staking crypto

    What Is Staking And How Can You Make Money With Your Crypto?

  • what are veefriends

    What Are VeeFriends And Are They Worth It?

  • how to file a complaint against crypto exchanges

    How To File A Complaint Against A Crypto Exchange [Crypto Regulators]

Footer

Pages

  • Best Cryptocurrency Wallets
  • Best Cryptocurrency Exchanges

Categories

  • Cryptocurrency
  • DeFi
  • NFT
  • Personal Finance

About

  • About The Cult Of Money
  • Contact
  • How We Make Money
  • Advertise With Us
  • Facebook
  • Instagram
  • Pinterest
  • RSS
  • Twitter

Copyright © 2023 | Cult of Money | Privacy Policy | Terms of Service