when establishing your cash flow history don t overlook cash withdrawals that may have been used on sundries from take out to shampoo to sodas atm withdrawals can also highlight where you might cut unnecessary spending 
a major part of a financial plan is a person s clearly defined goals these may include funding a college education for the children buying a larger home starting a business retiring on time or leaving a legacy no one can tell you how to prioritize these goals however a professional financial planner should be able to help finalize a detailed savings plan and specific investing that can help you reach them one by one the main elements of a financial plan include a retirement strategy a risk management plan a long term investment plan a tax reduction strategy and an estate plan benefits of a financial planfinancial planning is a smart way to keep your financial house in order it s a money tool for everyone regardless of age earnings net worth or financial dreams it offers individuals a way to document their personal goals and corresponding financial goals it can keep people on track to meet ongoing financial needs and major financial goals 