What is a financial plan and how do I make one? (And stick to it)

Written by Minyoung Park

For many of us, the pandemic has changed our saving and spending habits and led to a reassessment of our financial health. He also emphasized the importance of creating a step-by-step approach to achieving financial goals, otherwise known as financial planning.

A financial plan serves to help you control your income streams and expenses so that you can manage your finances and achieve your various life goals. Life goals can vary from paying for education, developing a larger retirement fund, saving for future children and their future, and buying a car.

New laws, changing tax codes and rising inflation make having a financial plan in place more important than ever.

Financial planning is really about establishing that plan and the strategy to achieve your financial goals, the strategy you will need to really set yourself up for success in the future.


Caleb Silver,
Investopedia Editor-in-Chief

In October, Nasdaq TradeTalks teamed up with Investopedia and The Balance for National Financial Planning Month to discuss everything you need to know to plan for your financial future. Whether it’s learning how to create a financial plan or better managing your debt, TradeTalks has you covered.

1. How to create a financial plan and what should be included

2. How to create and maintain your own financial plan

3. What is a Certified Planner?

4. The basics of estate planning

5. How to make a budget

6. How to prepare for retirement

7. How to prepare for buying a new home

8. How to better manage your debt

9. The Robo Advisor versus the human element of investing

10. Build a solid foundation of financial literacy in children

Financial planning should be on your mind every month of the year, not just October. For more resources on how to take control of your finances, access our Smart Investing financial literacy hub and subscribe to our newsletter to receive expert insights on the companies and players shaping the markets, you giving what you need to know to make smarter investment decisions. .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.