This is for those of us who really do try hard to create financial plans but then end up not following them. Worse they abandon them without giving them a chance to succeed. For those folks, I have created the following graphic. Not I do not go into specifics like high interest savings accounts or the like, just the basics.
For those of you who do not remember your basics of flow charting (yes I am that old), remember to follow the arrows (and the comments in bold on the arrows are the reasons you are going in that direction).
The best part of this is I have completely minimized the hardest parts of this process, which is creating the actual plan and implementing it (and sticking to it). I am pretty sure I have seen this flow chart at a few free financial planning sessions for folks that I have been roped into attending.
Remember stick with your plan, even after you think you have succeeded, it has to be a life change, not just short term pain (it’s long term pain!).
This is an interesting take on financial planning and I feel damn old for I still recognize these flow chartng symbols 🙂
If only we can break down complex and seemingly complex financial concepts in a easy-to-understand level then more and more people will be more adept in financial planning. So, thanks for taking time to create a flowchart and for the trip back to flowcharting 🙂 Maybe next time a flow chart for basic investing will be a great post.