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To arrange financial plan we should consider a few tips: Recalculate all your debts and divide between debt for private consumption and business. If your debts above the amount of 30% of total revenue this indicates that your finances are not healthy, take notes of total income that you received and your expenses for several months and look at the results.

Here you can see what expenditures are obligation such as transportation, monthly shopping, dining, etc. and have to be consider only at certain of time. Aim for how much you need and not exceed that aim. Begin to separate a sum of money for savings, in this case you also have to separate the personal savings of course for personal purposes and business profit. You must set your financial goals for both personal and business for example you plan to enjoy a vacation in the Bahamas three years ago.

And for business, you are planning to open 10 additional outlets within a period of three years. Separate between personal savings and business savings, create a different bank account. In fact, you can create multiple accounts for multiple purposes such as bank account A to plan vacations, B account for profit business, C for your children’s education funding accounts, D accounts for retirement funds etc..

Do not forget investing for retirement funds. Make a plan when you want to retire and count the living cost after retirement and how much you should save for the funds.

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