Step-by-Step Financial Planning Process.

This infographic explains the financial planning process in six simple steps—setting goals, gathering information, analyzing finances, developing a plan, implementing strategies, and monitoring progress. It highlights how a structured financial planning process helps individuals manage money effectively, reduce stress, and achieve long-term financial security.

1. FINANCIAL PLANNING PROCESSFINANCIAL PLANNING PROCESS Goal Setting
01
02
Collect details on income,
expenses, assets, and liabilities.
Understand your current financial
position.
Identify short-term and long-term
financial objectives.
Example: Saving for a house,
retirement, or education.
Gather Financial Information
Regularly track progress and
update the plan.
Adjust as life changes (job, family,
retirement).
Monitor & Review
Analyze & Evaluate
Assess cash flow, investments, and
debts.
Spot strengths, weaknesses, and
opportunities.
03
Develop a Plan
Create a customized strategy
aligned with your goals.
Include budgeting, savings,
investments, and insurance.
04
05
@checkboostThe financial planning process is a step-by-step
approach to help you set goals, manage money wisely,
and build a secure financial future.
Put the financial plan into action.
Start saving, investing, and
protecting your wealth.
Implement the Strategy
06