Financial Life Plan Template - To use this template as your own, simply click the link and then Show Sidebar -> Copy Board.
Two of my favorite personal finance books of all time are Financial Peace and Total Money Makeover by Dave Ramsey. These excellent guides show step by step how to take control of your finances, get out of debt, and save for retirement. I was introduced to them in college and they have had a huge impact on how I view my personal finances. This template lays out his seven steps with links to information about each one. By using Trello to keep track of where you stand, you have an instant big-picture view of your financial goals. Dave's plan is simple:
- Step 1 - Get a budget and save a $1000 emergency fund.
- Step 2 - Pay off all debt, except for your house. List them smallest to largest and ATTACK! The template above includes a checklist where you can get that gratifying feeling of progress as you check them off.
- Step 3 - Save 3-6 months in your emergency fund.
- Step 4 - Save 15% of your income in tax-advantaged retirement accounts.
- Step 5 - Save for your kids college.
- Step 6 - Build wealth and give!
At first, even these simple steps can seem impossible, but thousands of people from all walks of life call in to Dave's show every day having achieved various milestones in this plan. In practice, you may find yourself going back and forth in them a few times. Dave himself has. But it is possible with hard work and discipline, and maybe a Trello board or two to provide inspiration along the way. You can read more about Dave Ramsey and his financial guidance in various areas of life at http://www.daveramsey.com.