So much is written about financial planning and what it entails. In a lot of cases it scares the client and pushes them away from a necessary conversation. Putting it simply it is the starting point for every conversation you should have with a financial advisor.

At Spartan Financial Solutions we adopt this process with every client.

For the private client, a financial plan can be a budget, a plan for spending and saving future income. This plan allocates future income to various types of expenses, such as rent or utilities, and also reserves some income for short-term and long-term savings. A financial plan can also be an investment plan, which allocates savings to various assets or projects expected to produce future income, such as a new business or product line, shares in an existing business, or property or indeed allocation monies to your retirement fund.

While a financial plan refers to estimating future income, expenses and assets, a financing plan or finance plan usually refers to the means by which cash will be acquired to cover future expenses, for instance through earning, borrowing or using saved cash.

I treat the words as two separate issues; a) How can you achieve anything specific without having a plan in place b) Funding for your plan is the key both on understanding what you spend and how you can best allocate your resources.

Why not meet with Geoff and he can go through this process with you.