Healthy Financial Plan

How do you know if you have a healthy financial plan? There is more to it than saving for retirement and your kids college.

Here a list of items you should have in place or be working on as part of your overall financial plan.

1. A per pay cash flow plan. (Tell each dollar where it's going before you get paid.)
2. A Will (This is a must have!)
3. A debt reduction plan.
4. An Emergency Fund
5. Retirement Funding
6. Life Insurance
7. Health Insurance
8. Disability Insurance (Most people ignore this one. Don't you ignore it.)
9. Adequate Auto & Home owners insurance. (When did you last review these?)
10. Charitable Giving
11. Teaching your children how to handle money.
12. College funding for your kids.

If you are addressing these 12 items you have a health financial plan. If you are missing some of these 12 things then set an action date right now and get it done.