Step 4 Implement the Plan:
Making It Happen
With your plan in place, next step is to implement it. Of course, knowing what you should do actually doing it can be challenging. It takes discipline. Did you make any Year’s resolutions this year? Have you broken them yet? If so, you know can be tough sometimes to stick with your plans. We’ll talk later about specific things you can do with your money to help you stay on . But one thing you can do today is to find someone to encourage to be accountable for your goals.
Being a Responsible Spender
When it comes money, you have a choice. Life is a lot easier, though, if you it wisely and respectfully and take personal responsibility for your decisions
and actions. are you going to make sure you stay on track to meet your goals? In later units we’ll talk about specific things you can do with money to help you stay on target. But one thing you can do is to find someone, like a family member, to encourage you to be for your goals. Share the goals you wrote down earlier. Talk about your . Then ask him or her to check in with you once a week so to see how you’re doing. Your odds of success are much better you have a “partner” to help motivate you—and it’s
almost always easier than it alone.

Read the guidelines for sticking with your plan.
Can you think strategies that will help you stick to your financial plan?
Guidelines for Sticking Your Plan
Write your goals on an index card or find pictures of goal and post them in a place you’ll
see every day. Tell other about your goals. Also, ask someone to check in with you about your —knowing someone is going to ask about it is good motivation! When you’re going spend money, decide how much you’ll need ahead of time and take only amount so you’re not tempted to spend more. Review your plan regularly so know when you’re starting to stray and can make adjustments quickly. What might you back from meeting your goals? You need to consider any potential roadblocks may affect your ability to meet your financial goals. Some roadblocks are beyond control. For example, the concert tickets you want might be sold out, or paycheck might be small because you weren’t scheduled to work as many hours originally planned. Anticipate any roadblocks, and leave room for flexibility in your financial .

Step 5 Monitor and Modify the Plan: Staying on Track
Once you start your financial plan, you need to check to make sure that you’re staying track. The best way is to decide to review your plan and your at regular intervals—like every two weeks or every month. The more often you this, the sooner you’ll catch yourself if you start straying off course. A isn’t meant to be written in stone. It’s a living document that should as things in your life change. You may run into unexpected obstacles or . Your goals may change, or your resources may vary. You may even receive that you didn’t expect. That’s just life, and it’s totally normal. Therefore, you review your plan whenever you have significant changes in your life. This includes
your finances change, such as getting a promotion and a raise or quitting job. But it also includes life changes as well. For example, you might dating someone or move to a new city. All of these events can a need to update your financial plan.!

When you achieve a goal, celebrate cross it off your list! Then revisit your list of goals and ask these questions:
• Are my existing goals still worth achieving?
• Is there new goal to add to my list?
• Is there an existing goal want to drop or change?

Adding It Up
Now you should be able see how all these elements in the financial planning process work together: your influence your needs and goals; the decisions you make affect your goals; spending on your wants may limit meeting your needs; all of this is your financial responsibility. These elements are the basics of financial planning—making money work for so you can lead the kind of life you want. Don’t let money you. Always remember that it is just a means to an end, not end itself. With a personal financial plan, your journey through life will be . And when you come to forks in the road, you can move ahead fewer hesitations. Rather than wandering aimlessly, you’ll know where you want to go have a better chance of getting there.