How to create a personal financial plan? Financial plan of the enterprise. How to draw up a financial plan - step-by-step instructions Application for drawing up a personal financial plan

Having a sufficient amount is not only financial independence, but also the opportunity to successfully realize your intentions. Competent management of sources of income and strengthening the security of this area help to gain confidence in the management of available resources. The intended goals are achieved with the least or optimal costs. It is known that they use a personal financial plan (LPP) for stability and increased income. Even just compiled, it will help you live without debt, within your means, and improve your well-being.

How to create a personal financial plan and why are you doomed to failure without it?

Let us understand in detail why management is needed, what this concept includes and how it is feasible in reality. Ordinary people, even if they keep records of their household budget, do not create clear routines. Although it is possible that they still have such an intention in one form or another. Most rich people subordinate the financial sphere to planning. According to the survey, the average person’s needs (goals) correspond to the following list:

• a lot of money or an increase in its amount;
• housing, improvement of conditions;
• owned vehicle;
• work less, mostly manage capital or live on interest from the deposit;
• opportunity to travel;
• pay off debts.

If you ask how ordinary people are going to implement this, they answer that they intend to do more. But they cannot say what they are doing for this or what progress will be in terms of income. In order to achieve the above goals, you need to master personal finance management, which includes:

• understanding what a financial plan is and why it is required;
• algorithm for its compilation;
• correct;
• goals;
• methods for increasing the effectiveness of implementing intentions;
• ways to eliminate errors.

If you take into account all aspects, you can successfully create your own plan. Let's take a closer look at why this is needed. Having such a routine, outlined in clear algorithms, can be compared to a guidebook or a road map. Having a personal financial plan will allow you to correctly move towards your goals. And also choose the optimal path with the least number of obstacles, taking into account all possible aspects.

Drawing up a plan will provide the necessary knowledge to comfortably achieve the stages of the goals. It will take no more than 3 hours. But the intentions will be clearly described, and the concept of methods for its implementation will emerge. Those who manage money matters in this way achieve their goals much faster. Let's look at how to draw up a personal financial plan below.

6 steps to creating a personal financial plan

Accounting will allow you to get a clear picture of the movement of money. A person should understand what they are spending on, which items of the family budget remain stable and which are constantly changing. Personal finance management is impossible without such a picture. To carry out the process competently, you need to start maintaining such accounting. This will give you an initial idea of ​​the state of affairs from which you can build. Creating a personal home financial plan takes place in stages. Having developed it, you need to agree on the details, after which access to agreements that increase income will open. The amounts set aside monthly will be invested in them. The result is automatic. In order to give successful dynamics to the process, periodic adjustments are required. As wealth and circumstances change, plans are revised. Let us consider in detail the steps below and other aspects.

Planning stages

1. You should start with, decide what you want to achieve. These intentions can be short-term or intended for a long period. And also vary in degree of importance. But all of them must be specified and formulated in monetary terms. For example, if someone wants to buy an apartment or a car, they must indicate the characteristics, brand, and cost.
2. requires an indication of the deadline for achieving the target, and not just the amount required for this. That is, individual intentions and motivations are measured in time units, in addition to the monetary equivalent. The period required to complete the assigned tasks must be clarified in relation to the available capabilities. For example, a family wants to buy a car in 3 years and renovate an apartment in 10 years. It is important to correspond to reality so that intentions are not doomed to failure.
3. The next step in solving the problem of how to create a personal financial plan is to describe the funds and sources of funds. This is a very important stage that requires most of the time. Success in achieving goals depends 90% on it. You need to calculate how much you can save each month. Determine the size of assets (income), liabilities (expenses). It is their difference that represents the amount of money allocated for accumulation.
4. Personal finance management at stage 4 involves creating additional income. You can make a profit by investing your money successfully.
5. Risk calculation may be the next step. For long-term savings, the method of saving money in the form of cash is not suitable. The danger is their availability for arbitrary spending, as well as possible inflation. Therefore, finance is invested in a variety of assets, which will generate income on capital. Investments are also associated with the risk of losing part of the funds, and therefore it is necessary to choose the most comfortable level of this risk. Thus, profitability is related to the rate of growth of capital investments, which (in turn) determines the time frame for achieving the goal. But the speed limit, as in road traffic, is less safe.
6. The last stage is implementation and adjustments along the way. The LFP, designed in the form of a table, accurately reflects the future state of finances. But if you don't take action to save money and don't look for additional sources, the plan won't change your current wealth. We need investment projects, appropriate insurance and other implementation tools. Implementation requires the use of ways to increase capital.

Financial problems will be possible to resolve only if there is a plan and these methods.

Formulating financial goals

An integral part of the question of how to draw up a personal financial plan is the definition of goals, their clarification by parameters, as well as in monetary terms. Otherwise, the budget of a family or an individual will be organized randomly, in the form of chaos. Aimlessness leads to a lack of results. A similar organization of willpower is needed both in and when creating personal capital. Further stages are meaningless without specific formulation: what should be strived for.

Calculate the cost of your goals

One of the tasks of a financial plan is to calculate the amounts needed to achieve your goals. To determine whether it is possible to implement the target on time, you should consider cash flow. We add a rate of return with the appropriate level of risk and calculate the amount of capital after the planned number of years. The sufficiency of the amount is the solution to the problem. But the lack of funds will require a number of changes, options for which must be foreseen in advance.

Families typically have multiple long-term goals with varying priorities and costs. It is not always possible to achieve them all at the same time. There are various scenarios for this. A personal or family financial plan, such as getting an education, may receive top priority. But completing this task will not allow other intentions to be realized. Parents will not be able to retire earlier or it will be impossible to improve their living conditions. Then the second-priority goals are postponed to a more distant date. So we choose the best option from a number of possible scenarios.

Analyze the current financial situation

The action plan includes an analysis of the situation. Big goals are filled with investment funds like a container. The size of the flow is determined by regular contributions to the implementation project, which is associated with the speed of progress towards the target. Its size is the main parameter for long-term financial plans, depending on the personal budget.

Assets and liabilities are also subject to analysis. We enter the values ​​taken into account into the table, and the data may not be recorded with complete accuracy. The main thing is to get a general idea and determine the proportion of costs. Once you receive the monthly balance, you can adjust your goals and deadlines. The discrepancy between these latter parameters motivates the search for additional implementation methods.

Adjust goals

Analysis of assets and liabilities that generate income and expenses, as well as their subsequent adjustment, can increase investment flow. This could be eliminating expenses that the family does not need. The ratio will improve, which will speed up the achievement of goals. At the stage of making amendments, an inventory of the financial condition is made. The situation is clearly visible as a starting point for further progress. It is recommended to adjust the long-term plan every 3 or 5 years.

In particular, if the amount you decide to save regularly is not enough, you need to find a way to increase your income. Or reduce expenses. It is also possible to perform both actions simultaneously.

Cost reduction

Targeted investments, set aside regularly to achieve a particular goal, can be obtained in the required amount by. A properly organized budget, review of expenses, and removal of those that are actually not needed help reduce costs. But also a typical mistake is to set aside an excessively large amount each month. You should not exhaust yourself with austerity, as “Spartan” conditions can be harmful. As a result, goals and plans will lose meaning. Therefore, a financial reserve is needed that allows you to live more freely.

Income increase

You can invest in a goal only the difference between income and expenses. Many families have funds for regular investments. But they do not make these contributions because they are not familiar with the tools. Investment plans that include personal capital guarantees do exist and are available. You need to master them and use them.

Make an investment plan

For successful financial investments, there are a number of instruments, the profitability and risk of which are directly dependent on the duration of the intended period. Example: you need to save up for a vacation that is expected in a year. It includes the cost of the trip and additional expenses. Ensuring security and stability, we use interest on bank deposits, where reliability is 100%. To travel to another country, it is better to open a foreign currency account. For the purpose of children's future education, buying shares is more suitable. Weighing the available investment instruments, we choose the one that best suits the circumstances.

Create a reserve fund

We should not forget about the possible depreciation of money - inflation. This is especially true for long-term financial planning. Reserves created specifically for such cases will help against the interference of such factors. For example, so-called “compound interest” is tied to inflation. It is known that investment profits increase during this period. But the real figure for personal income requires subtracting the percentage of current inflation from the profit percentage. There are investment calculators that make similar adjustments to the calculation.

Self-discipline and strict adherence to plan

Making a financial plan is only half the task. The main difficulties usually follow when it becomes necessary to stick to it. A routine created in 1 hour requires months or decades of implementation. Success depends on the person, him. If the time period is too long, it should be divided into stages and each one should be achieved. Another recommendation is to immediately set aside the intended amount when receiving income to prevent accidental waste.

Financial literacy involves not only knowledge of the theory of money and its depreciation. Any person or organization simply needs financial planning and accounting of their finances. Why is this so important? It's about the psychology of money. If you don't keep track of the money you spend and don't plan for the future, then you will always spend as much as you earn. You've probably seen this yourself. Even if you managed to set aside a certain amount of money, sooner or later it is taken out of reserves and spent on current needs.

When you see with your own eyes the amount of money earned and spent, you avoid the temptation to spend all your earnings, start saving part of your salary and start thinking about investments. Therefore, financial planning does a very important job - it clearly shows all your transactions with money. Those who find this activity boring and don’t plan it, always wonder where all the money disappears and they constantly lack it. Even if at some point their income doubles, they end up with the same problem of not having enough money after some time because they have no financial goal. And if a person takes out a loan, the situation worsens for a very long time. Now you understand how important it is to keep track of your finances, so let’s get down to this topic in more detail.

It's worth saying right away that if you think that the point is to save money and buy a car or a house, then this is a major mistake that you will have to correct. You'll see why this kind of thinking is economically wrong in Lesson Four. But before that, you must realize equally important things.

Before we begin personal financial planning, let's look at organizational planning. If you want to open your own business in the future, you will need financial planning.

Financial planning of the organization

Financial planning is the planning of all income and expenses to ensure the development of the organization (“Financial management and taxation of organizations”, Levchaev A.P.). There may be several financial plans depending on goals and directions. Such a plan is a balance sheet form in the form of grouped items of income and expenses planned to be received and financed in the coming period.

Before you begin developing a financial plan, you need to understand the objectives of financial planning.

The main objectives of financial planning are:

• Determining ways to effectively invest capital.
• Control over financial condition.
• Respect for the interests of investors and shareholders.
• Establishing reasonable relations with the budget, banks and extra-budgetary funds.
• Identification of hidden reserves.
• Providing the necessary resources for the organization's activities.

Before you start drawing up a plan, you need to understand the financial condition of the organization. To treat a patient and maintain his health, he needs to be diagnosed. This is exactly what should be done first.

The consolidated financial plan for a certain period is called budget. That is, the budget is built on the basis of two matters - money and. You clearly define a certain period of time for which your financial plan is designed, after which you distribute financial (and other) resources.

The budget can be at the level of personal finance, organization or state. Despite the different scales, the budget of any level has the same features and criteria. For example, if your or the government's revenues exceed expenses, it is called a budget surplus. If the number of expenses exceeds income, then a budget deficit arises and things begin to get out of control. A surplus is more desirable than a deficit, but excess money must be put into circulation immediately, maintaining balance.

In the early days of becoming financially literate, you may think that a budget and a financial plan are one and the same thing. The only difference can be that the financial plan is sometimes supplemented with some recommendations and goals, while the budget mainly deals with numbers and graphs. The financial plan includes a budget and you can often put an equal sign between them.

In addition to the objectives of financial planning, there are also its principles:

• Forecasting. The economic state of the organization and the country (sometimes the whole world, if it is a transnational corporation) is analyzed. The quality of the forecast determines the quality of the financial plan.
• Optimization. This means reducing costs without harming the organization and its employees and the most effective investment of money.
• Control. A sound financial plan prevents irresponsibility, clearly shows who is responsible for what and allows you to control all aspects of the organization.
• Documentation. Record keeping is a natural consequence of control.
• Coordination. Financial plans of different departments should be developed in close connection with each other. Sometimes it makes sense to focus (read: invest more money) in one department while sacrificing some spending on another.
• Prioritization. In order to implement a financial plan, the manager must define clear and precise plans. All actions and financial transactions of the organization must be subject to the main priorities. Without priorities, a company can spend a lot of money on completely unnecessary areas and simply suffer financial collapse.
• Adequacy. It is very commendable to set ambitious goals for yourself, but unsupported ambitions can lead to dire consequences.
• Versatility and flexibility. The plan may be adjusted to suit the economic climate. The economy changes every day, so you need to monitor its trends and make adjustments to your financial plan.

Creating a financial plan is complex and complex. Therefore, we will focus on common and understandable features. Income and expenses form the basis of the budget of any organization, state or ordinary person. There are such articles:

Income and receipts of funds

• Profit from the sale of products, works and services .
• Profit from other sales (fixed assets and other assets).
• Depreciation charges.
• Receipt of money from other companies.
• Planned income that is not related to the sale of goods, works and services. This could be income from securities, equity participation in the authorized capital of other companies, leasing of property, or storing finances on deposits.

Expenses and deductions

• Taxes paid from profits and others.
• Depreciation expenses.
• Wages.
• Cost of raw materials and other resources.
• Loan repayments.
• Rental of premises.
• Other expenses.

This is all that any financially literate person needs to know if they are not yet considering running their own organization. When you firmly decide to take this path, you will have to study a lot more information, or hire a financial advisor.

Now it's time to look at personal financial planning, which you can do yourself by following certain instructions.

Personal financial planning

For competent personal financial planning, it won’t hurt you to go through. This course will teach you how to properly allocate time in different areas to generate income from them. In the fourth lesson, we will look at ways to earn additional income, so you need to learn how to set the right goals and develop a strategy for achieving them, properly distributing your time and effort. Combining these two skills will help you get on your feet financially.

Personal financial planning will allow any person to correctly assess their financial condition and allocate resources to generate more income. If you're feeling bored with paper that you have to fill out and add to every day, you'll later see a list of apps with nice designs and functionality that a regular piece of paper cannot.

First of all, you need to realize the fact that any saved monetary unit can turn into two or more after some time. If it is spent on something unnecessary, you lose this opportunity. Remember how many useless expenses you made in a year and multiply this figure by three - you could probably get the same amount in a year or two with the right investments. This is why most financially successful people reached their peaks - they are used to spending the minimum and investing the rest of the money in something. After all, everyone knows the stories when those who won the lottery eventually became beggars again in just a year. They were not financially literate. However, if they spent at least a couple of hours on financial planning, they could clearly see that after just a year this money would not be left.

Before you create your personal financial plan, you must know the principles of planning.

Principles of personal finance planning

1. The principle of economy. - strength. This quality helps any person in any area of ​​life, and it will also help in personal finance. The desire for immediate gratification and impatience are signs of immature, childish behavior. We all know that we need to save, but a very small percentage of people do it. However, you shouldn’t go to extremes, because saving for the sake of saving won’t lead to any good either. Later we will tell you what to do with the money you save.
2. The principle of sufficiency. We need to put a barrier between ourselves and modern media. The function of any advertisement is to show you that you will be unhappy if you do not buy this product. Learn to think about the usefulness of purchasing a product from a value perspective. If a product will bring you nothing but dubious pleasure, do not buy it. Be happy with your current situation and think that a sense of self-sufficiency will help you make it even better. Self-sufficiency does not mean sitting back, it means being happy now, but at the same time knowing how you can become even better. Be grateful - this is one of the most underrated qualities in a person.
3. Operating principle. For a good life, it is very important to find a job where you do not think only about money. In this case, your productivity will increase several times, and with it your income. Love what you do. This will help you always be in high spirits and find time and energy for many other things.
4. Research principle. Financial literacy presupposes a constant conscious attitude towards money and opportunities. Find out which products and items you really need and don't overpay for more expensive versions. All of your financial decisions today affect you and your family in the future.
5. Priority principle. Every day we are faced with one very important problem - what to spend and where to invest our money. Even millionaires face this. Remember that if you buy one expensive item, you are deprived of another. With the help of one product or service you become smarter and better, with the help of the second you degrade. As practice shows, the second products are purchased much more often. Distinguish the first from the second.
6. Tracking principle. Money management should become a habit. Thoughtless spending of money leads to financial ruin. Track and always be aware of how much money you have and what you spend it on.
7. The principle of frugal living. Even if only for a while. You need to ensure that your income is generated without your participation and only then can you afford much more. If your passive income reaches the amount you need and makes you happy non-stop, this is a sure sign that you have achieved financial independence. A modest life does not mean a bad life, it means a more reasonable one. Of course, if you work with people, you should have nice and neat clothes. The point is to avoid buying unnecessary clothes.
8. The principle of debt avoidance. Any loan or debt eats up part of your financial future. It is possible in some cases, which we will talk about later.
9. Simplification principle. Simplicity leads to efficiency, understanding and absence. Any new thing, in addition to good emotions, also carries with it many bad ones. Buying a new expensive phone just tempts you to play good games and use pointless apps on it. Zen-style simplification will help anyone become happier, and in our case, financially literate.
10. Investment principle. Remember inflation? Simply storing money is, of course, better than spending it thoughtlessly, but such behavior cannot be called effective either. Investing always carries a certain risk, but you cannot live without it in the world of money. Read a lot of books, watch videos and think.
11. Principle of precaution. A wealthy person is not characterized by an expensive car, but by how many months he can live if he loses his job today. They say that if you have enough money for six months of a good life, then you can be considered middle class. Nevertheless, the essence of financial well-being is not to work (or work where you like) and at the same time have a constant flow of income.
12. Principle of cooperation. Of course, you can make a good income working alone, but the information age offers many opportunities for cooperation with other people. The principle of synergy works very well in the financial sector. With the right team, anyone can generate more income.

Now that we have become familiar with the principles of personal finance planning, it’s time to move on to practice.

Five Steps to Financial Planning

Financial planning takes into account only five steps. Each step should be treated with due attention and not proceed to the next one until you have finally dealt with the previous one.

Grade

First of all, you need to clearly assess what your assets and liabilities are. First, determine how much cash and electronic money you have. Then write down in the “assets” column what brings you income: deposit, monthly salary, investments. In the “liabilities” column, write down everything that does not bring you money and takes money out of you: car, house or mortgage, loan, rent bills, Internet and mobile phone use. Determine at least the approximate amount of money you spend per month on food, clothing and entertainment. And yes, the car and apartment are your liabilities and we will talk about this separately.

Get rid of loans. You must understand that in the end you will still give it away, but it will extract interest from you and create a debtor syndrome. Remember: no debt, minimum needs can be met with any income. Of course, there is no need to go to extremes - living in a car or walking around in torn clothes.

Simply put, you should end up seeing two approximate figures - your total income and expenses per month.

Target

You can’t go anywhere without a goal, especially if it’s long-term. Almost everyone is capable of collecting a certain amount in a couple of months, but if we are talking about several years, then you need iron and. And it is goal setting that will help you with this.

Ideally, you should plan several years in advance because this is what constitutes financially savvy behavior. For example, this could be the entry “A million dollars in ten years.” It has its drawbacks, but it's better than nothing. Of course, your goal should be objective, but on the other hand, it is very easy to underestimate yourself and in the end you will get less than you could. When you start to understand your finances and invest money, you will realize that anyone on the planet can save a million dollars. Let's think about what goal a financially literate person should set for himself.

Your financial goal should not be something like “Buy a car in two years” or “Buy a house in five years.” This is economically incorrect thinking because even if you eventually achieve this, your expenses will increase greatly and you will spend the rest of your life maintaining the functioning of your car or home. A goal of “Have a million dollars in ten years” is better, but it means that after that period of time you will simply start spending your million and end up back where you started financially. Your goal should be to create passive sources of income. Roughly speaking, this could be a million-dollar bank account that will allow you not to work and withdraw good interest every year. However, banks and the economic situation are unstable, so you need to remember another golden rule: do not put all your eggs in one basket.

If your goal is “A million dollars in the bank and five more sources of passive income from different investments,” then this is already close to financial solvency. We will discuss this in more detail in the fourth lesson.

Create a plan

The first step in creating a plan is to cut your expenses. This is the cornerstone of financial literacy. Remember that a person is able to spend all the money he has, regardless of his income level. Therefore, first of all, find expense items that can be reduced or eliminated altogether. There is an opinion that with almost any income you can reduce the number of expenses by 50%.

And it is this same 50% that you should save throughout, if not your entire life, then at least for the duration of this financial plan. This is the second step.

Remember that if you wish and have certain skills, one monetary unit can be turned into three or more. Therefore, the more you save, the greater the chance of increasing this amount. If you don’t save a penny, then through simple calculations you get zero multiplied by any number and you end up with zero.

The third step is investing. We will talk about this separately and in great detail.

So, cut your expenses, save your money and invest. Even if you just won a million dollars in the lottery. This applies to every person, regardless of their current income level.

Execution of the plan

Hang it in a visible place. If you use an app, have it on your home screen so you can instantly go into it and make any changes. If you bought food, immediately add this amount to your expense items, while clearly understanding how much you have allocated for food per month. You can go on a diet, this is generally a great way to become healthy and rich.

Your financial plan should become your second identity. We do not advise you to think only in terms of money, because otherwise you will degrade as a person, but do not forget about your goals. The best and greatest goals are achieved through personal effectiveness and financial literacy. Remain human, but remember your financial well-being.

By the way, if you don’t like the word “plan,” come up with your own motivational word. Think about a word that will inspire you rather than bore you.

Monitoring and reassessment

There is no problem in adjusting the plan. When you compiled the first version, you probably still had a very vague idea of ​​where you would put them. Once you've cut your expenses and started saving, ideally half of your income, it may take a couple of months before you have a good amount accumulated there. Spend these months on your financial books and then adjust your financial plan. It should always change towards reducing costs and optimizing investments, and not vice versa. This is the main rule for adjusting your personal financial plan.

Of course, you could allocate a completely insignificant amount of money for food, and in this case you can increase your food expenses. Also, do not forget about products that tend to run out for a long time. For example, you may not think about shampoo and razor blades, but after a while you will need them. In this case, it makes sense to buy in bulk, but you should take money for these expenses only from other expenses.

At this point, you probably think that your life will turn into a living hell. This is true, but provided that you do not look for new sources of income. Agree that if you save 50% of your income for investments, then new sources of income will allow you to eventually get out of the first difficulties and spend more money on entertainment and other things. Remember that there is no other way. No one forbids you to enjoy life and at the same time look for new opportunities that life offers.

As we already said, financial planning can seem like a very boring activity because most people in the world don't like numbers. But people love beautiful graphics and colorful pictures more. Let's consider mobile applications that will always be at your fingertips and have good visibility and interface.

Programs for planning a personal budget

Monefy

This shareware program has a very nice interface and has a number of advantages. For example, using synchronization with the Dropbox service, you can manage your family budget. Any entry in this application will be visible to those people with whom you are maintaining this budget. However, you can also use it just for yourself. The application has a built-in calculator, which is very convenient.

It is also worth noting a beautiful and informative graph that will help you see in a few seconds what you spend the most money on and what brings you the most income. You can see your income and expenses by day, week, month and year, which will help you be more conscious about your money.

Money Lover

This application is not only about accounting and financial planning, it is constantly evolving and is already trying to cover many aspects of a person’s life. You can create two wallets for free; for the rest you will have to pay a small amount of money.

Another good difference from other applications are the two tabs “I owe” and “I am owed”. As you understand, the first tab should always be clean, and having a second tab will not always make your life better. But if this happens, the application will help you not to forget about all your debts.

There is also a “Bills” tab, which allows you to finally find out the total amount of your all bills - rent, rent, internet, phone, and so on.

In addition to all this, the program contains a currency converter, interest rate calculation and is able to find the ATM closest to you.

Financius

The simplest application presented. It consists of three simple menu items “Accounts”, “Transactions” and “Reports”. You can track the financial status of your company or any family member. There is no financial planning here, but if you are not an experienced app user, you can start there. It's free and ad-free.

CoinKeeper

This application is about financial management and is presented in a game form. In order to spend money on something, you need to throw a coin on a specific icon. There is an interesting feature called “Automatic Budget”, it allows you to quickly calculate the main categories of expenses for the month.

You can set reminders for recurring expenses and also keep track of it with your family.

Toshl

What's unique about the app is that it constantly reminds you that you might be going over budget. However, its disadvantages are that it requires paid use and that some things need to be entered manually.

We advise you to try all these apps and eventually choose the one that suits you best. They are developing and evolving, which means that other functions may be added soon. If you are unable to use mobile applications, Internet services are offered for your services. There are a large number of them and it is quite difficult to single out any one separately.

In the next lesson we will look at the financial system and financial institutions. And in this we looked at personal and organizational planning. We found that there is not much difference between planning personal finances and planning a financial organization and that there are many similarities. The essence is always the same - reducing costs and directing financial flows to investment and capital increase.

Test your knowledge

If you want to test your knowledge on the topic of this lesson, you can take a short test consisting of several questions. For each question, only 1 option can be correct. After you select one of the options, the system automatically moves on to the next question. The points you receive are affected by the correctness of your answers and the time spent on completion. Please note that the questions are different each time and the options are mixed.

• Gross profit = revenue – cost of production.
• Financial profit = financial income – financial expenses.
• Operating profit = operating income – operating expenses.

Balance sheet profit is calculated as follows:

An important indicator is profitability, it is calculated as follows:

Most often it is necessary to determine the return on capital, assets, and products. Profitability of activities is calculated as the ratio of profit from sales to costs.

Important: When planning economic efficiency criteria, the current year of drawing up the business plan is taken as the base year.

Cash flow planning

Cash flow planning includes a forecast of cash receipts from all sources; this can not only be income from sales, but also interest from the sale of shares or the lease of land.

When forecasting the movement of funds, the following aspects are taken into account:

• the total amount of money invested in starting a business;
• assets and liabilities of the company;
• forecast of profits (income from sales and interest on rentals) and losses (costs of materials and wages of workers employed, inflation, payment of interest on a loan);
• assessment of financial performance.

When planning efficiency, all cash costs and income are discounted and reduced to current value.

Table 1 - Example of cash planning

Indicator	1st year	th year	3rd year	4th year	5th year
Cash	X	X	X	xx	xxx
Arrival of money
Sales revenue	X	X	xx	xxx	xxx
Proceeds from the sale of shares	xx	X
Total by income
Spending money
Operating costs
Salary payment
Raw materials
Other costs
Investments
Payment of interest on the loan	X	xx	xx	X
Repayment of accounts payable	X	X	X	X	X
Payment of income taxes					xx
Total expenses
Total cash

When making a forecast, it is important to take into account such aspects as the inflation rate (optimistic and pessimistic options are taken into account) and risks.

The company's activities may depend on:

• commercial risk (includes such aspects as problems with the sale of goods or the activities of competitors);
• financial risk (includes such aspects as insufficient project financing, inability to repay borrowed funds);
• production risk (includes such aspects as poor equipment, low quality products) and is part of the investor's risk.

The balance sheet of assets and liabilities is compiled based on the calculation of net profit and cash turnover.

Enterprise balance sheet forecast

The balance sheet of an enterprise contains specific indicators that reflect the success of the company. The forecast is made at the end of each year, and all the features of the company’s activities for the coming year are taken into account. This could be borrowing money or attracting investors.

After drawing up the balance sheet, you can see the rate of profit, return on assets and capital, and the ratio of equity to debt in the future.

The company's balance sheet may look like this.

Table 2 - Balance sheet of the enterprise

Assets	1st year	2nd year	Liabilities and capital	1st year	2nd year
Working capital:			Current liabilities:
cash			short-term debt
accounts receivable			settlements with creditors and suppliers
inventory			Long-term debt
other			Tax debt
Fixed capital			Equity
Initial cost:			Profit to be distributed
depreciation
book value of fixed capital
other
Tangible assets
Intangible assets
Total			Total

Summing up, reports are compiled containing the financial indicators of the business plan. Namely, a statement of income and expenses, a statement of cash flows, a statement of assets and liabilities.

The financial plan, as an integral part of the business plan, involves the provision of all calculations for a period of up to 5 years, thanks to which you can see the main economic indicators, as well as identify the liquidity of the project model.

Remember the wonderful and very deep conversation between Alice and the Cheshire Cat?

“Can you please tell me which way I should go from here?”
“It depends a lot on where you want to go,” Cote said.
“I don’t really care where...” said Alice.
“Then it doesn’t matter which way to go,” said the Cat.
“...the main thing is to come somewhere,” Alice added by way of explanation.
“Oh, you’ll definitely succeed,” said the Cat, “if you just walk long enough.”

Very often, the dialogue between an Independent Financial Advisor and his client is exactly like this conversation between Alice and the Cheshire Cat. The only difference is that the main question that interests the client is: “Where to invest money?” At the same time, people have absolutely NO DOUBT that there is a clear, unambiguous answer to this question. Now the Independent Financial Advisor, without thinking for a second, will open his mouth and say the secret: “Invest it in...”. And then the sun will shine, milk rivers with jelly banks will appear, and you will be able to live your whole life on the interest on the money invested, without worrying about anything else. Beauty, isn't it? Why does this entire idyllic picture suddenly break into harsh reality? An independent financial advisor opens his mouth and... starts pouring out a huge number of questions!
“Excuse me, I came here to ask! Is it really difficult for him to simply answer?” - if such thoughts begin to flash in your head, then it’s time to turn to allegory.

Let's imagine how a person plans his vacation.

Let's not focus on young, free and unencumbered people who can hitchhike for months without any purpose. Let’s better imagine a respectable family man who wants to take a break from righteous labors.

What does such a person do first? Absolutely right! Answers the following questions:

1. How do I want to relax (lying on the beach under the hot sun, visiting ancient monuments, driving a jeep around Africa or cooking a barbecue at my dacha)?
2. Where do I want to go (if the purpose of the vacation is the beach, then which country with the sea should I choose)?
3. How many days can I leave for?
4. What kind of finances do I have (do I have enough money for Bali or is it better to limit myself to Turkey)?

Once all the questions about planning a vacation have been answered, you can begin choosing a means of transportation.

Accordingly, you can get to the dacha by train or car, but there is no way to get to Bali without the help of an airplane.

With regard to money, everything is absolutely the same.

Vacation planning = creating a Personal Financial Plan

Vehicles = investment vehicles

In order to create a Personal Financial Plan, you need to answer the same questions that a person answers when planning a vacation.

1. What financial goals do I want to achieve?
2. How much money will be needed for this?
3. How many years do I have to create the necessary capital?
4. How much money do I have now?

Only after answering these questions can you select the very investment instruments that will be the easiest to use to “get” to your cherished goal.

That is why the question “Where to invest money?” is incorrect. Thus, a person asks something like: “Is the train a good means of transport?”, “What is better: a bus or a plane?”

The tragedy of most people is that they THEY DO NOT KNOW WHERE THEY ARE GOING along this financial road.

This is what it looks like Financial needs table a person throughout his life.

— Most people, without thinking, satisfy the “Current Consumption” goal throughout their lives.

— Goal “Education, prof. development and financial independence”, as a rule, largely depends on parents, and the percentage of independent decisions in this area is extremely low.

“Then, an already educated and independent person, for many years (sometimes until old age), persistently implements the third goal - “Family, children and savings for large purchases.”

So it turns out that for the remaining three goals relating to the education of children, one’s own pension and the transfer of inheritance, there is no longer enough strength, time, or... money.

A personal financial plan can help fulfill all of a person's financial needs.

By calculating your Personal Financial Plan at the peak of your career and performance, you can prepare for retirement and ensure that all your financial goals are achieved.

7 main questions for drawing up a Personal Financial Plan

1. What can be included in the calculation of a Personal Financial Plan?

You can include in the calculation of your Personal Financial Plan all financial goals and aspirations:

- savings for the education and future of your children;
- savings for your own old age;
— receiving passive income at a certain point in life;
— creation of a Reserve Fund;
— purchase of material goods (a house on the seashore, an apartment, a car);
— opening your own business and calculating the possible risks associated with it;
- etc.

2. For how long can a Personal Financial Plan be drawn up?

A personal financial plan can be drawn up for any period, for example, for several years or until the planned end of life. Naturally, in the latter case, only the “main milestones” of the financial path with many “assumptions” can be taken into account. However, when thinking about your retirement future, such a Plan can already play a decisive role in creating pension savings.

3. What will be the job of a Financial Advisor?

To draw up a Personal Financial Plan, the Financial Advisor will conduct a thorough study of the client’s financial situation. Based on information about income and expenses, the financial consultant and the client determine the optimal amount for monthly investment, which will form the basis for the calculation. When drawing up a Personal Financial Plan, the following factors will also be taken into account:

— possible financial risks that the client may incur and ways to prevent them;
— the type of investor of the client, according to which the selection of financial instruments will be carried out;
— accumulation periods for the implementation of certain financial goals;
- etc.

4. How will the Personal Financial Plan be drawn up?

A personal financial plan can be created through face-to-face meetings, online, or a combination of both.

Drawing up a Personal Financial Plan includes next steps.

— The client pays for the preparation of a Personal Financial Plan, after which he receives a Questionnaire (in person or by email).

— The client returns the completed Questionnaire (in person or by email).

— Within 5 (five) business days, the Financial Advisor may ask additional questions about the completed Questionnaire.

— After receiving answers to additional questions, within 2 weeks the Financial Advisor provides the client with a completed Personal Financial Plan (in person or by email)

— Within 5 (five) business days, the client can ask questions about the Personal Financial Plan drawn up.

— The entire process of providing the service cannot exceed one month and, as a rule, is limited to two to three weeks.

5. What documents will ultimately constitute the Personal Financial Plan?

As a result of the work of a financial advisor in drawing up a Personal Financial Plan, the client receives following documents:

— full calculation of the movement of funds for the entire period of drawing up the Personal Financial Plan;

— individual investment strategy with the selection of all necessary financial instruments;

— detailed instructions on the investment procedure for the next year or two.

6. Is the Personal Financial Plan static?

Of course, a Personal Financial Plan cannot be drawn up once for your entire life. It can be edited depending on changes in living standards or adjustments in financial goals. But, in any case, “major milestones”, as a rule, remain. It is advisable to make the necessary additions and changes to your Personal Financial Plan at least 1-2 times a year.

7. Are there any conditions for drawing up a physical form?

In order for an Independent Financial Advisor to develop the most accurate and feasible plan, it is necessary to clearly understand the structure of your income and expenses. Good for this at least Keep track of your expenses for 2–3 months.

How much does it cost to create a Personal Financial Plan?

How much might a Plan to Fully Meet a Person's Financial Needs Over a Lifetime Cost?

According to statistics, a person spends 40 years of his life actively earning money. During this period, an amount equal to Salary* 12 months passes through his hands. * 40 years old. With a total income of 150,000 rubles. the amount will be 72,000,000 rubles.

Having made the calculation of the Personal Financial Plan and started saving 30,000 rubles. monthly at 12% per annum, after 40 years you can become the owner of a capital of 92,050,970 rubles.

Today, the average pension in Russia is 10,400 rubles.

The one who cannot competently manage 72,000,000 rubles. for his life, at the end of his life he will receive only 10,400 rubles. in the form of a monthly pension instead of capital of 92,050,970 rubles.

How to create a personal financial plan and what is it? Personal financial plan (LPP)- this is a forecast of income and expenses of the family budget for the long term. Like any plan, physical therapy allows you to achieve any goals.

This could be: paying off all debts, saving for a major purchase: a vacation trip, a car, a summer house, apartment renovations, etc., or creating a family reserve fund for a rainy day, investing in financial instruments, and so on. Before you make any major financial decision, make a plan.

A personal financial plan is a course that allows you to correctly move towards your intended goal, but it can be adjusted taking into account changes that have occurred in the family’s financial flows.

The effectiveness of the plan depends on its duration - the longer the period, for example, 5-10 years, the higher the result will be from it than from a plan drawn up for several months. True, the longer the period, the more difficult it is to make forecasts; for starters, you can try to make a plan for 6 months - 1 year.

Always leave a certain amount as a reserve for unexpected expenses - this is the financial security of your family.

Accounting for income and expenses

In order to create a personal financial plan, experts advise starting to track your income and expenses. And only after 2-3 months of accounting, compile a physical form. I believe that one month will be sufficient to determine the correct statistics of the family budget.

With income, everything is simple, usually it is a small list - wages, bonuses, scholarships, pensions, child benefits, income from rental real estate, and so on. Income is easy and pleasant to track, but expenses are more difficult.

If monthly expenses are of the same type, they can be identified by elimination. For example, calculate the amounts for utilities (rent for housing), kindergarten, Internet, mobile communications, loan payments, travel. These amounts are repeated from month to month.

If there are no other expenses (entertainment, recreation, clothing, etc.), then everything else is food and household chemicals. The main thing is to be honest with yourself when accounting for expenses and not reduce them. If you spent half your salary on a handbag, cosmetics or computer games, honestly reflect this in your accounting.

So, we sorted out the income and expenses. If you can break down your monthly budget into items and clearly define the amounts for them, then you can move on to the next step.

Goals

You need to define and clearly formulate goals for the period for which you will draw up a plan. For example, pay off your mortgage loan as quickly as possible and save money on interest, and invest the money that previously went to the bank.

Or save money for your dream car, a cool computer or a vacation in the Canary Islands. There will most likely be several goals: both large and small, here you need to decide what is priority and in what sequence to complete them.

The plan will help you find out how achievable your financial goals are and how long it will take to achieve the goal. If your goals are unattainable, for example, buying an apartment, you need to think about a loan or give it up for a while until your financial situation improves. When drawing up a plan, the interests of the whole family must be taken into account.

How to draw up a personal financial plan: an example of a personal financial plan

For an example of drawing up a plan, take the following data:

Family of 4, with two minor children. A husband and wife together earn 100,000 rubles a month. They purchased an apartment with a mortgage, the monthly payment is 25,000 rubles. For the purchase of an apartment, the spouse receives a property deduction for personal income tax.

The family formulated goals for themselves:

• Partially repay your monthly mortgage early.
• Save for a vacation trip. Save the amount of 100,000 rubles. To ensure that the amount does not depreciate in six months, convert monthly savings into dollars.

The amount that the family saves for vacation also serves as reserve capital. If there is an emergency with money, it can be used.

Month	September	October	november	December	January	February
Income (thousand rubles)
Salary	100	100	100	100	100	100
Prize	—	—	—	15	—	—
Tax deduction	10	10	10	10	10	10
Compensation for kindergarten	1	1	1	1	1	1
Total income:	111	111	111	126	111	111
Expenses
Mortgage repayment	25	25	25	25	25	25
Utility payments	7	7	7	7	7	7
Kindergarten	3	3	3	3	3	3
Children's mugs	4	4	4	4	4	4
Internet, mobile communications	1	1	1	1	1	1
Nutrition	30	30	30	30	30	30
Household chemicals	3	3	3	3	3	3
Cloth	2	2	2	4	2	2
Entertainment	3	3	3	3	3	3
Present	—	—	2	6	—	3
Total expenses:	78	78	80	86	78	81
Remainder	33	33	31	40	33	30
Early repayment of mortgage	25	25	25	25	25	20
Leisure trip	8	8	6	15	8	10

Following this plan, the mortgage debt in the amount of 145 thousand rubles will be repaid ahead of schedule in six months. An amount of 55 thousand rubles will be accumulated for vacation.

Who needs a financial plan?

All people with a modest income believe that creating a personal financial plan is pointless for them. Practice shows the opposite: the less income, the more a person must control his expenses so as not to go into debt. This is especially true for those who have .

Planning is what will help him not make meaningless spontaneous purchases, and clearly understand how much he can spend per day on groceries or clothes.

A wealthy person controls not his expenses, but his income. He needs to draw up a plan for investing personal income so that income is not only maintained, but also increased.

Every family will benefit from a personal financial plan. Try it now and take control of your budget.

Nina Polonskaya