PERSONAL FINANCIAL ACTION PLAN

Session 1: Financial Background Success Strategy

In Session 1, I'll get to know more about you as you share your personal and family financial situation. Also important will be learning what systems or approaches you have used in the past (online banking and bill pay, software, notebooks, budget books, spreadsheets, envelopes, check register) that have worked and those that have not worked for you as you've tried to manage your finances. This will help me to provide better feedback for you throughout the 6-week program. Then you'll tell me your financial values and goals and what you hope to achieve as a result of working with me on this program. I will facilitate your process of getting clarity on your financial goals and results you want from our time together as you create your Personal Financial Action Plan. At the end of this session, you'll receive homework to complete before the next session. I will be accessible via email and phone as needed.

Session 2: Pulling the Pieces Together to Create an Effective Spending Plan

In Session 2, we’ll review the results of your homework and then begin to outline a comprehensive and realistic spending plan for the month and for the year. You will have gathered and provided data we can review and use to create a system that is customized for you. During this session we will identify the periodic surprise and unplanned expenses and create a plan for them so you actually anticipate these expenses ahead of time. In addition, I'll help you determine how much savings to have to manage those unexpected expenses. At the end of this session, you'll receive homework to complete before the next session. You'll be asked to refine your action plan and your goals based on what you learned in this session. I will be accessible via email and phone as needed.

Session 3: Create a Monthly Budget that is Realistic and Maintainable

In Session 3, we’ll discuss your lifestyle and daily expenses so we can create a comprehensive monthly spending plan that will work for you. We’ll create a system for integrating your various spending avenues (automatic deductions, checks, online bill pay, Pay Pal, debits, cash and ATMs). In addition, we’ll review your spending style, spending habits, and attitude about spending money and explore any patterns or attitudes that may be holding you back and keeping you from reaching your goals. We will go over your daily spending so far and brainstorm new ways to spend less and still maintain your lifestyle. At the end of this session, you'll receive homework to complete before the next session. You'll be asked to refine your action plan and your goals based on what you learned in this session. I will be accessible via email and phone as needed.

Session 4: Outline a Debt Repayment Plan

In Session 4, we'll go over your debt situation. We’ll talk about the most effective strategies for reducing and eliminating your debt. You'll share your creative ideas for reducing debt and eliminating the use of credit cards. We’ll examine what “living debt free” actually means for you and what it means for your partner. In addition, we'll discuss the importance of reviewing your credit report and making any necessary corrections. At the end of this session, you'll receive homework to complete before the next session. You'll be asked to draft a Net Worth Statement with details about how you plan to increase your Net Worth based on what you learned in all previous sessions. I will be accessible via email and phone as needed.

Session 5: Review, Compare and Adjust

In Session 5, we'll review spending leaks, spending insights, overlooked expenses and how you handled any unexpected expenses. We’ll then discuss any challenges or obstacles you are facing as you start incorporating all of the different strategies introduced. In addition, we’ll compare your actual spending during the last weeks and months to the estimated spending plan we originally set up. This is where we will do a course correction and determine what adjustments need to be made. I will be accessible via email and phone as needed.

Session 6: Financial Wrap-Up

In Session 6, you will share with me all the insights you have gained, and new shifts in your life. We will focus on resolving any remaining challenges or obstacles you are dealing with while creating your Personal Financial Action Plan (PFAP). We'll discuss common blocks that could keep you from implementing your PFAP and identify effective solutions for avoiding them. I'll share a number of suggestions that will keep you on track while executing your PFAP to ensure your success in reaching your financial goals.