Women & Money Cafe - 42. DIY a Financial Plan

42. DIY a Financial Plan

08/21/22 • 74 min

What is a financial plan? And do you need one?

Julie & Catherine are going to walk you through the 3 steps to building your own financial plan. You can make it as complicated as you want, or you can keep it to one page.

To us, the plan is a like road trip across Europe. We may not have a fixed destination, but we have lots of things we want to see along the way.

What is important to you
Start to shape your goals
Plug in the numbers

Along the way we’ve made up some golden rules. The 1st one is that the plan is not about perfection. Don’t get hung up on precise details.
Rule number 2 is remember this is about guessing, so it will not turn out exactly as you planned at the beginning. And that’s ok, because most of us change as we go through life.
Rule number 3, money is not your only commodity. You have time and talent!
4.23 Rule 3 explained
7.49 what is a financial plan
11.40 questions to help you with step 1
14.42 how the goals emerge from step 1
25.48 recap of the questions to ask yourself
27.43 Moving from step 2 to step 3
35.26 The numbers
42.30 Calculate your net worth
46.52 Another golden rule

Grab a copy of our One Page Plan as a PDF or word doc.
The savings plan section of this Calculator can do all of the numbers you need for step 3

YOUR HOSTS:Catherine Thomas-Humphreys is an Award Wining Financial Coach, Qualified Financial Adviser and Family Will Writer.
Catherine believes money is a force for good and when in the hands of good people can be used to do great things. She loves working with purpose-led parents who are ready to change their money habits & beliefs to achieve financial success for themselves and their family.

She founded #TheFinfluencer as a safe space to coach and empower parents to influence, make, save, spend and grow money, consciously, ethically and positively.

Financial coaching - The Finfluencer
Catherine’s bitesize money wisdom - Instagram

Julie Flynn is an experienced independent financial adviser and financial coach. Justice and equality drive Julie. Which is why she’s spent years studying and researching how stress affects our financial decision making.

She uses her years of experience and research to support women experiencing or planning significant change in their lives.

Julie is best known for her work with women who have lost their partner and coaching financial services business who want to implement fair and transparent charges.

Financial coaching - Ebb & Flow
Financial advice - Bree Wealth & Tax
Julie’s inexpert social media antics - Instagram

Support the show

✅ And if you enjoyed the show, please leave us a review.

We genuinely love hearing your questions and feedback.
So, email us a voice note [email protected] or via instagram with your thoughts and suggestions.

What is a financial plan? And do you need one?

Julie & Catherine are going to walk you through the 3 steps to building your own financial plan. You can make it as complicated as you want, or you can keep it to one page.

To us, the plan is a like road trip across Europe. We may not have a fixed destination, but we have lots of things we want to see along the way.

What is important to you
Start to shape your goals
Plug in the numbers

Grab a copy of our One Page Plan as a PDF or word doc.
The savings plan section of this Calculator can do all of the numbers you need for step 3

She founded #TheFinfluencer as a safe space to coach and empower parents to influence, make, save, spend and grow money, consciously, ethically and positively.

Financial coaching - The Finfluencer
Catherine’s bitesize money wisdom - Instagram

She uses her years of experience and research to support women experiencing or planning significant change in their lives.

Julie is best known for her work with women who have lost their partner and coaching financial services business who want to implement fair and transparent charges.

Financial coaching - Ebb & Flow
Financial advice - Bree Wealth & Tax
Julie’s inexpert social media antics - Instagram

Support the show

Previous Episode

41. REAL Holistic Financial Planning with Raj Modha

We welcome our very first ever man to the Women & Money Café in this episode, financial planner & financial coach Raj Modha. He takes a mind, body and soul approach towards financial advice. He shares with us how he works with clients and the personal reasons that shaped his practice.

Half way in Raj shares his favourite client question: What are you no longer willing to tolerate?

3:42 Raj’s take on holistic financial planning
8.45 Why empowerment is so important
12:10 Where being able to love yourself fits into financial planning
16:42 The stories that run in our heads for 20 years and why maths has nothing to do with being good with money
20:43 How bringing coaching to financial advice creates a judgement free neutral environment
30:11 Saying “No” more often can lead to a more purposeful life
34:37 How nutritionist and travel agents became part of Raj’s financial advice
37:31 Poking clients becomes more important than investment strategy

Guest Expert - Raj Modha is a father of two and his wife (Sindy) has suffered living with him for almost 23 years. She would suggest that he watch any sport on TV, but he’s actually a fan of football & cricket. He hold a season ticket for the mighty Foxes. He loves walking, socialising and unfortunately dad dancing!!
YOUR HOSTS:Catherine Thomas-Humphreys is an Award Wining Financial Coach, Qualified Financial Adviser and Family Will Writer. Catherine believes money is a force for good and when in the hands of good people can be used to do great things. She loves working with purpose-led parents who are ready to change their money habits & beliefs to achieve financial success for themselves and their family.

The Finfluencer|Finfluence|Instagram

Julie is best known for her work with women who have lost their partner and coaching financial services business who want to implement fair and transparent charges.

Ebb & Flow Financial Coaching|Bree Wealth & Tax|Instagram

Cafe Expert:
Emily Pool is a Financial Planner and Will Writer and Founder of Happy Planet Financial Planning and is passionate about empowering people to invest their wealth (pensions and savings) sustainably and in line with their personal values

Support the show

Next Episode

43. How to Stop your Brain Messing with your Money (ADHD part 2)

We were blown away by the response to the ADHD episode 25. If you skipped it because it didn’t seem relevant, we would recommend having a listen. Full of loads of good money management tips in that anyone can make use of.

We've got Martha & Krystle on the sofa, sharing their tips & wisdom on how to automate your money & using friction with your money.
Krystle talks about removing the “doors” to help with large tasks and ones you don’t enjoy. Martha renames pensions as Naughty Little Old Lady Funds.

7.28 Why do I keep missing credit card payments & what can I do?
19.59 I’m usually good with money, but then go on a massive spending spree which I regret
22.01 De-biasing your money
31.44 Anxiety around money
40.07 What is bounded rationality & how can it help
44.04 Partner getting frustrated because I can't do money stuff

Guest Experts Martha Lawton financial educator and qualified financial coach. She has been helping people understand and use money better for over fifteen years. She hosts the podcast Squanderlust about the emotional side of money. You can follow her on Instagram.

Krystle McGilvery is the founder of My ADHD & Money. She combines CBT, behavioural science to support others in making good financial decisions, build wealth and money confidence. Appearing on ITV, in The Telegraph, and on BBC Radio. You can follow her on Instagram
YouTube How to ADHD
Podcast How should we begin
Monzo ADHD research

YOUR HOSTS:Catherine Thomas-Humphreys is an Award Wining Financial Coach, Qualified Financial Adviser and Family Will Writer. Catherine believes money is a force for good and when in the hands of good people can be used to do great things. She loves working with purpose-led parents who are ready to change their money habits & beliefs to achieve financial success for themselves and their family.

The Finfluencer|Finfluence|Instagram

Julie is best known for her work with women who have lost their partner and coaching financial services business who want to implement fair and transparent charges.

Ebb & Flow Financial Coaching|Bree Wealth & Tax|Instagram

Support the show

Women & Money Cafe - 42. DIY a Financial Plan

Transcript

WMC 42 DIY Financial Plan

Catherine: [00:00:00] Welcome to the women and money cafe, the weekly money podcast for women by women exploring the practical and emotional side of money. The cafe isn't just a podcast. It's a community for women to feel financially empowered. And have fun along the way, come and join us in our Facebook group too, with your hosts, Julie Flynn and myself, Catherine Thomas Humphreys, Julie is an independent financial advisor and certified financi