Creating a Financial Life Plan for an Unknown Tomorrow

If we’ve learned anything this year it’s that tomorrow is never guaranteed. Understanding and organising your finances is one sure way to protect your loved ones from stress and anxiety during an uncertain future.

A sound financial life plan acts as a buffer through all economies and circumstances, but how do you start to create a financial life plan that offers you the protection you need for the unknown tomorrows?

Three things to think about when creating a financial plan

Start at the beginning

What are your assets, and what are your liabilities? Create a list of everything you can think of so you can see your net worth at a glance. Planning requires clarity and honesty.

Avoid getting too emotional about the figures. Any liability that caused you regret or upheaval will pull at that negativity thread. A bad investment may haunt you. You may have stuck your head in the sand over the exact amount you owe on a loan, and it stings to see the reality. A failed business dealing may cause significant discomfort. Try and move beyond the emotional links and any guilt by using these examples and figures as lessons for growth.

This exercise needs to be done. You can only create a better financial future for yourself and your family by having all the facts and figures. You can find out more about building a cash flow model on our website.

Set financial goals

If I asked you five years ago where you’d be today, I bet your answer differs greatly to the one you initially gave!

Having a rough plan or set of goals is better than no plan at all. Try projecting where you would like your financial situation to be in one or two years.

Divide your goals into categories if it helps you to focus better. Debt management, budgeting, savings, and current assets are useful headings to use.

~ Debt management – There are plans available to help pay your debts off at a more affordable rate.

~ Budgeting – Budgeting is a great way to build new habits around your finances. It allows you to track the money as well as your spending behaviour.

~ Savings – By taking the time to nurture your savings plan, you could be financially independent sooner rather than later.

~ Current assets – Protecting what you have in the way of current assets need to play an essential role in your financial plan.

Implement your personal goals

To create a sound financial life plan you need to implement the action steps and invest in yourself and your future.

Some elements of your plan may be harder to do than others; after all, spending our hard-earned money is more fun than saving it when we’re young and carefree. However, as we start a family and set down roots, those savings plans begin to manifest and allow us the freedom to live life to the fullest.

Implementing the action steps you agree upon puts you back in control of your financial life and builds a firm base to build your future.

Listen to the ‘father of the life planning movement’ George Kinder, on our Podcast as we talk about the insights and growth of life planning.

Need more help?

Our financial life planning service ‘Life Without Limits’ helps you understand what is essential in your life. We will help you identify what needs to be put in place to maintain the lifestyle you and your family want.

Our approach looks at where you are today and where you want to be in the future through our 5 DREAM stages:

  • Discover – finding what matters, where you are today, and where you want to be.
  • Realise – uncovering your priorities and helping you visualise your goals.
  • Everest – helping to overcome any issues and providing solutions.
  • Action – creating the financial plan to get you there.
  • Mentorship – encouraging you and executing the full plan together.


Create your financial life plan to protect you from the unknown tomorrows and book a call with Rory to discuss how his programme can shape your future. Financial Life Planning sessions are conducted face to face or over Zoom/Skype/Teams. Book your call today HERE.

Posted on December 16, 2020 By Rory Brazil