Finance Update

The Best Way to Make Your Financial Planning in 2023

Whether in your personal life or in your business, having good financial planning can save you a lot of headaches. That’s because when you plan how to spend your money, you can avoid the dreaded debts, invest in your future, and, of course, live more peacefully. 

And since the end of the year is here, it’s time to take a breath for the last few months, which usually bring good opportunities. Not to mention the energizing feeling of a new year that comes with many promises.

But organizing finances can be a big challenge. With that in mind,’s blog has prepared complete content for you to put together good financial planning. Here we go.

Why is it important to have a financial plan?

In short, financial planning is a set of practices to take care of your money – whether personal, business, or family. Thus, everyday needs are covered, and you can then think about the future.

Having a financial plan facilitates access to information, eliminating assumptions such as: “I think it works”, “maybe paying in installments is better”, and “use overdraft or use credit?”. So you can make better decisions.

Good financial planning gives you:

  1. financial balance (it doesn’t come out more than it comes in).
  2. assists with goals and objectives.
  3. eliminates unnecessary expenses.
  4. helps pay off debts.
  5. avoid interest.
  6. makes room for investments.
  7. ensures more quality of life.

It is worth remembering, however, that each financial plan can target different objectives – and, for this reason, a personalized strategy for each situation is essential.

What are the main points of financial planning?

Financial planning needs to follow some ‘rules’ to make it as efficient as possible. However, it is important to emphasize that it is not enough just to plan, it is necessary to put it into practice. Are they:

Develop a financial mindset: read about it, study it and search for information on the internet. There are many profiles on social networks that produce interesting and accessible content, even for laypeople. make a financial diagnosis to gather relevant information that indicates the current situation of the company/accounts.

Define objectives, including short, medium, and long term. have a budget available, current, and organized, including information on what comes in as income and what goes out as expenses – do not lose control of the accounts.

Have follow-up metrics to be aware of daily actions.

Drawing up a detailed schedule makes the difference.

Seek to get out of debt.

The Best Way to Make Your Financial Planning in 2023
The Best Way to Make Your Financial Planning in 2023

How to start your planning?

For good planning, in addition to following the points mentioned above, it is important to understand the entire financial context in which you are inserted.

After all, in addition to personal and company accounts, if you are an entrepreneur, you need to consider your family and dependents, or employees, if applicable. People with whom there is some kind of sharing of expenses or shared consumption.

After all, if it is identified that it will be necessary to tighten the accounts, it is necessary to count on the help of all those involved.

Check out the types of financial planning:

Business financial planning

Very important for the growth of companies, business financial planning is directed to corporate finance. Although more challenging, it is essential to pay off debts, ensure greater investment in business growth and, consequently, achieve more profits.

Personal financial planning

Personal financial planning can be simpler, but it is important to be aware and disciplined to rethink your own expenses and stick to your plans.

It is interesting to look for some financial education references so that the preparation of this plan is as effective as possible. For this, there are ready-made spreadsheets on the internet for you to fill in with your bank statement information.

Family financial planning

In order to carry out family financial planning, it is important to understand the financial situation of all taxpayers and also all expenses that may affect the budget.

What is the deadline to be considered in financial planning?

Financial planning, in general, should be done monthly as most bills arrive at this frequency. But it’s important to have a long and medium-term vision too, always linked to your goals.

In addition, it is equally important to follow up weekly (or even daily in the case of a trade, for example). So you don’t lose control and stay within what was planned.

Long-term financial planning

Long-term financial planning aims at future goals, that is, you control the organization of finances to achieve a specific goal that involves greater spending – a house, a car, among others. There is no maximum term, but plans range from 3 to 5 years.

You can enter your retirement plans here, depending on your age, or when you intend to stop working. In this post, we talk about the importance of having alternatives to INSS retirement.

Medium-term financial planning

Medium-term planning, on the other hand, is aimed at results that are not so long-term, something like a goal to be achieved within the next year, such as a vacation trip, or a course you would like to take, for example.

Short-term financial planning

Finally, short-term planning aims to balance monthly income with controlling daily expenses. Objectives for the next twelve months can also form part of this type of planning.

Does financial planning help save money?

Yea! If your financial planning aims to invest, you will certainly be able to save money within the period stipulated in your schedule. Of course, your success will depend on your focus and discipline. Thus, you need to have a clear view of your financial life, rethink expenses and prioritize what is really most important to you.

Depending on your diagnosis based on this account study, you may find that you need to cut expenses, ask for a raise, or find a new source of extra income. Regardless of the situation, planning is the first step. And to stay on the plan, aim for your dreams. They will take you much further than you can imagine. 


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