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StitcherThere are a lot of financial goals you can pursue and it can be confusing to know which ones to pursue first and to what extent. In this episode, Jen and Jill kick off a four-part series on building a comprehensive financial plan that helps you sort through the numbers, the emotions, and the real-life limitations of your finances.
Before we think about where we want to go in the future we need to know where we’re starting from financially and mentally.
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To help you get started, we created a free Google Sheet that walks you through building your own financial plan with everything we’re covering in this series. You can grab it at frugalfriendspodcast.com/plan
And if, at any point, you decide you’d rather have a professional guide you through the process—someone who understands values-based financial planning and isn’t just focused on high-net-worth clients—head to frugalfriendspodcast.com/cfp We’ll help connect you with a financial planner who’s the right fit.
Be sure to subscribe to Frugal Friends on YouTube so you don’t miss the rest of this four-part series or any future episodes!
Your Financial Goals & Budget
The first part of the series focused on looking out on your Financial Goals and Budget. They explore the four money scripts which are the beliefs about money often formed in childhood that continue to shape how we spend, save, and think about wealth. Recognizing these patterns can help you make more intentional financial decisions.
They then walk through everything you’ll need to calculate your net worth and cash flow. While gathering all your financial information may seem overwhelming, they recommend tools like Monarch or a simple spreadsheet to make organizing much easier.
Align Your Money With What Matters Most
Once you have the numbers, it’s time to zoom out and look at the bigger picture. Your family, life circumstances, and personal values all play a role in shaping your financial plan. Jen and Jill share thoughtful questions to help you define goals that are realistic and meaningful for your unique situation.
From there, choose one to three financial goals and rank them in order of importance. Then, compare your current habits and spending to those goals. If your money is already moving you in the right direction, keep it up. If not, don’t overhaul everything at once. Instead, focus on making one or two changes—whether that’s saving more, paying down debt faster, or finding ways to increase your income. Small, intentional adjustments can help you get back on track without feeling overwhelmed.
When Do You Need To See Someone
If you’ve worked through these steps but still feel anxious about your finances or like you’re not making meaningful progress, Jen and Jill suggest it may be time to bring in a Certified Financial Planner (CFP). A CFP can provide an objective perspective, helping you evaluate whether your current strategy gives you the best chance of reaching your goals.
After all, we don’t know what we don’t know. A trusted financial planner can identify opportunities, blind spots, and strategies you may have overlooked, giving you greater confidence that your money is working as effectively as possible.
⭐ WHAT'S NEXT?
In part 2 we’re diving into strategizing your debt payoff plan & your emergency saving! Tune in! 🙂
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