The word “Financial Planning” may sound like something only rich people with a lot of money can do. But, it’s not so! You don’t need to be wealthy to have a financial plan. In fact, you won’t create real wealth without a financial plan.

The main goal of financial planning is to create a strategy that will allow you to live the life you want to live now and forever.  A financial plan not only secures a comprehensive approach to deal with your money but it reduces stress, helps you make the most effective money decisions for your current requirements but also helps you secure your long term financial needs. In short, financial planning helps secure stability and adequate balance between the outflow and inflow of your funds every step of your journey.  Now, I don’t about you, but this just makes great sense to me.

The object of our life is development and the major responsibility is to become financially abundant. When we are financially abundant, we are self sufficient, happy and we not only are able to take care of ourselves and our family we can help the causes and people that are near and dear to our hearts.

It’s a fact that most couples fight about money.  It’s also a fact that many people’s biggest pain and what keeps them up at night, is their lack of financial stability.  You don’t know what you don’t know and you can’t see what you can’t see.  But when your lack of knowledge is around money, what you don’t know can and does hurt you.

Once you have a financial plan, it’s easier to make financial decisions and stay on track to meet your goals.  How about it?  You ready to make a financial plan?

How to Stabilize your Financial World

Mary McMahon, a licensed financial planner, focuses on a comprehensive approach to help you to stabilize your financial world using five main principles:

  1. The first thing you need is a game planto give priority and an order to your finances that focuses on savings and growth. This will help your investments and decisions to be coordinated and integrated based on facts designed beyond needs.
  2. The second thing you’ll need is a financial rulebook which will teach you how to make financial decisions and to avoid the transfer of wealth problem, i.e. where the money is systematically transferred and eroded away.
  3. The third tool is a virtual model that lets you see the impact of your decisions before you make them. You can do this by watching a personal financial video that Mary makes for you, which will allow you to have a picture of results of various strategies.
  4. The fourth thing is the need of a financial manager. In order to make successful financial decisions you need to do business throughout your life with lots of different professionals such as a real estate agents, health insurance agents, an attorney, a money manager, a PNC agent, business partners, and an accountant and that’s where a certified Financial Planner comes in which coordinate with your other advisors. It’s like getting all of those advisors into one room at the same time working together on your behalf.
  5. The fifth principle is the best money strategies to overcome the pesky transfer of wealth problem.

The best way to describe comprehensive financial planning is this… finding out what matters most to you and then aligning your money flow with what you value most!

Benefits of Financial Planning that you may not realize:

  1. A financial plan helps you to budget everything.
  2. It helps you get out of debt.
  3. It lets you start planning for retirement.
  4. Financial planning brings discipline in managing your money.
  5. Health and life insurance is important and with financial planning, you can determine what cover you need and then, you do not overpay for insurance.

If you want to know about the basics of managing your expenses well, listen to this complete show on YouTube.

Listen to more inspirational videos or shows hosted by Gens Johnson, Growth and Success Mindset Leader for your self-development and mindset success here: