Financial planning helps you track and manage your money to reach your financial goals. To create a strong financial plan, set goals, track cash flow, budget, invest, and pay down debt.

Getty Images. A solid financial plan is highly individualized to reflect the unique circumstances each person brings - the plan unites both needs and wants for one's future.

Here’s a guide to help you create a financial plan like a pro in just eight steps. 1. Define Your Financial Goals. The first thing you need to do is decide where you’re headed.

A financial plan at it's simplest is a map to reach your goals. Notice I didn't say "financial goals." Everyone wants to make and have more money, but money is not the goal.