# Personal Financial Plan: [Household name]

> A complete plan for a household's money on one page set: where you
> are now, what you want, and the specific actions that connect the
> two. It covers cash flow, net worth, emergency savings, debt,
> insurance, investing, retirement, tax, estate documents and a dated
> action plan, and is reviewed every year. Write it yourselves, or use
> it to prepare for and record work with a financial planner. The
> planning cycle follows the generic steps used by financial planning
> standards bodies and public financial-education frameworks (named
> in section 16), written here in original, country-neutral wording.
> Replace every `[bracketed]` value and every row marked *Example*.
> This is a document format, not financial, investment, tax, legal,
> insurance or accounting advice; projections are illustrative.

<!--
Guidance: How to use this template
- This is the hub document. Each section summarises one area and
  points to a detailed template when you need more depth: Net Worth
  Statement (`personal/net-worth-statement`), Financial Goals Plan
  (`personal/financial-goals`), Budget (`personal/budget`), Emergency
  Fund Plan (`personal/emergency-fund-plan`), Debt Payoff Plan
  (`personal/debt-payoff-plan`), Insurance Review
  (`personal/insurance-review`), Retirement Plan
  (`personal/retirement-plan`), Tax Document Checklist
  (`personal/tax-document-checklist`), Emergency Document File
  (`personal/emergency-document-file`).
- Fill it in this order: profile (1), goals (2), cash flow (3), net
  worth (4). Those four sections tell you what is possible. Then work
  through sections 5 to 11 in priority order and collect every
  decision in the action plan (12).
- A plan is only useful if it ends in actions with an owner and a
  date. If a section ends with "think about it", it is not finished.
- The worked example uses a fictional household, Sam and Jordan
  Ellison, with one child, amounts in USD, plan start 2026-10.
- If you work with a professional adviser, this plan does not replace
  the formal advice document they may be required to give you (see
  section 14). Investment-firm templates in this library, such as the
  Investment Policy Statement for individuals
  (`finance/investment-policy-statement-individual`) and the Client
  Risk Profile (`finance/client-risk-profile`), cover the adviser side.
-->

## Document control

<!-- Guidance: One plan per household, versioned each year. Record who agreed to it: a plan only one partner believes in rarely survives the first difficult month. -->

| Field | Value |
|---|---|
| Document ID | [FP-YYYY] |
| Household | [Household name] (*Example:* Sam and Jordan Ellison) |
| Plan period | YYYY-MM to YYYY-MM (*Example:* 2026-10 to 2027-09) |
| Currency | [Code] (*Example:* USD) |
| Prepared by | [Self / Adviser name and firm] |
| Version | [1.0] |
| Status | [Draft / Agreed / Under review] |
| Owner | [@owner] |
| Approvers/reviewers | [Household members], [Adviser, if any] |
| Last updated | YYYY-MM-DD |
| Next full review | YYYY-MM-DD (*Example:* 2027-09-30) |
| Classification | Private: household only |
| Linked documents | [Net worth statement ID], [Goals plan ID], [Budget month] |

### Approvals

| Role | Name | Decision | Date |
|---|---|---|---|
| Household member | [Name] | [Agreed / Agreed with changes] | YYYY-MM-DD |
| Household member | [Name] | [Decision] | YYYY-MM-DD |
| Adviser (if used) | [Name] | [Reviewed] | YYYY-MM-DD |

### Revision history

| Version | Date | Author | Change summary |
|---|---|---|---|
| 0.1 | YYYY-MM-DD | [@owner] | First draft |
| 1.0 | YYYY-MM-DD | [@owner] | *Example:* Agreed by Sam and Jordan, plan starts 2026-10 |
| 1.1 | YYYY-MM-DD | [@owner] | *Example:* Card B cleared, payment redirected to emergency fund from 2027-04 |

## Contents

1. [Household profile](#1-household-profile)
2. [Values, goals and priorities](#2-values-goals-and-priorities)
3. [Cash flow and spending plan](#3-cash-flow-and-spending-plan)
4. [Net worth snapshot](#4-net-worth-snapshot)
5. [Emergency fund](#5-emergency-fund)
6. [Debt strategy](#6-debt-strategy)
7. [Protection and insurance](#7-protection-and-insurance)
8. [Investing](#8-investing)
9. [Retirement](#9-retirement)
10. [Tax planning checklist](#10-tax-planning-checklist)
11. [Estate, documents and family](#11-estate-documents-and-family)
12. [Action plan](#12-action-plan)
13. [Monitoring and annual review](#13-monitoring-and-annual-review)
14. [Working with a financial adviser](#14-working-with-a-financial-adviser)
15. [Local equivalents](#15-local-equivalents)
16. [Glossary and references](#16-glossary-and-references)
17. [Standard and licence note](#standard-and-licence-note)

### The planning cycle

Financial planning is a loop, not a one-off project. The steps below
are a generic description of the cycle in plain words.

```mermaid
flowchart LR
  A["Understand your situation"] --> B["Agree goals and priorities"]
  B --> C["Analyse options and trade-offs"]
  C --> D["Decide and write actions"]
  D --> E["Carry out the actions"]
  E --> F["Monitor and review"]
  F --> A
```

## 1. Household profile

<!-- Guidance: Capture the facts that drive every later decision: who depends on whom, how stable income is, and what is about to change. Pitfall: skipping the "known changes" row, which is usually where the real planning need sits. -->

| Item | Detail |
|---|---|
| Household members and ages | [Names, ages] (*Example:* Sam 38, Jordan 36, Riley 6) |
| Dependants | [Children, parents or others you support] (*Example:* Riley; Jordan's mother may need help from about 2030) |
| Country and tax residence | [Country] |
| Employment | [Employer, role, contract type] (*Example:* Sam, salaried engineer; Jordan, salaried nurse, shift allowance varies) |
| Gross annual income | [Amount] (*Example:* USD 142,000: Sam 82,000, Jordan 60,000) |
| Take-home monthly income | [Amount] (*Example:* USD 8,900 after tax, social contributions and USD 800 of employee workplace retirement contributions; the employers add a further USD 400 a month of matching contributions, which never pass through take-home pay) |
| Income stability | [Stable / Variable / Seasonal] (*Example:* stable; Jordan's allowances vary by up to USD 300 a month) |
| Home | [Own with mortgage / Own outright / Rent] (*Example:* own with mortgage: home 410,000, mortgage 268,000 at 4.1% fixed until 2029, payment 1,950 a month, final payment 2042-03) |
| Health considerations | [Anything that affects insurance or plans] |
| Known changes in the next five years | [Events] (*Example:* replace car 2 in 2029; Riley starts secondary school 2031) |
| Attitude to risk (self-assessed) | [Low / Medium / High, and why] (*Example:* medium; uncomfortable with falls of more than about a fifth) |

Risk tolerance has two parts. Willingness is how much short-term loss
you can live with without selling in a panic. Capacity is how much
loss your plans can absorb without missing an essential goal. Use the
lower of the two. An adviser may measure this formally with a
questionnaire (see Client Risk Profile, `finance/client-risk-profile`).

## 2. Values, goals and priorities

<!-- Guidance: Start with what matters to you, then turn it into money goals with an amount and a date. Keep the full goal list in the Financial Goals Plan; summarise here. Pitfall: more goals than the budget can fund, with no priority order. -->

What matters most to us, in our own words:

- [Value 1] (*Example:* "Riley has the same education choices we had.")
- [Value 2] (*Example:* "We never have to borrow for an emergency again.")
- [Value 3] (*Example:* "We can choose to work less from our late fifties.")

Rows are listed in priority order, not in ID order (IDs are given once
and never reused, so GOAL-002 appears above GOAL-001).

| Goal ID | Goal | Target amount | Target date | Monthly funding | Priority |
|---|---|---|---|---|---|
| GOAL-002 *(Example)* | Clear credit card B | 3,400 balance | 2027-03 | 600 extra plus 100 minimum | 1 |
| GOAL-001 *(Example)* | Emergency fund at six months of essentials | 36,000 | 2028-08 | 300, then 1,000 from 2027-04 | 2 |
| GOAL-005 *(Example)* | Keep retirement contributions on track | See section 9 | Ongoing to 2051-09 | 1,200 through payroll (employee 800, employer 400) | 3 |
| GOAL-004 *(Example)* | Riley's education fund | 60,000 | 2038-09 | 215 | 4 |
| GOAL-003 *(Example)* | Replace car 2 without borrowing | 15,000 | 2029-09 | 365 | 5 |
| GOAL-006 *(Example)* | Family holiday | 2,700 | 2027-07 | 300 from flexible spending | 6 |

The goal IDs match the Financial Goals Plan (`personal/financial-goals`),
which holds the calculations. Priority 1 is funded first; a goal lower
in the list is the first to slow down if money is short.

A common order of priorities, which you may change for good reasons:
a small cash buffer, then high-interest debt, then a full emergency
fund, then retirement contributions (especially where an employer adds
money), then other goals. Write down your reason when you depart from
it.

## 3. Cash flow and spending plan

<!-- Guidance: Use real numbers from the last three months of statements, not what you think you spend. Every unit of take-home pay should have a job. The detailed monthly version lives in the Budget template. -->

Cash flow is money coming in minus money going out each month. A plan
can only fund goals from positive cash flow, so this section decides
what the rest of the plan can afford.

| Line | Monthly amount | Notes |
|---|---|---|
| **Take-home income** *(Example)* | **8,900** | Both salaries after tax and payroll deductions |
| Housing: mortgage payment | 1,950 | Principal and interest; rate fixed until 2029; final payment 2042-03 |
| Housing: property tax and home insurance | 450 | Paid via the lender |
| Utilities | 420 | Energy, water, waste |
| Groceries and household | 1,100 | |
| Transport: fuel, maintenance, public transport | 380 | |
| Car loan | 330 | Ends 2029-05 |
| Student loan | 160 | Ends 2034-07 |
| Credit card B minimum payment | 100 | Ends 2027-03 under this plan |
| Insurance premiums (life, health, disability) | 410 | |
| Childcare and school costs | 500 | |
| Phone and internet | 200 | |
| **Essential spending subtotal** | **6,000** | Used for emergency fund target |
| Flexible spending: eating out, clothes, gifts, hobbies, subscriptions | 950 | |
| Holiday fund (GOAL-006) | 300 | Part of flexible spending, ends 2027-06 |
| **Flexible spending subtotal** | **1,250** | |
| Extra payment to card B (GOAL-002) | 600 | Ends 2027-03, then redirected |
| Emergency fund (GOAL-001) | 300 | Rises to 1,000 from 2027-04 |
| Car replacement fund (GOAL-003) | 365 | |
| Education fund (GOAL-004) | 215 | |
| General investing | 170 | |
| **Saving and extra debt subtotal** | **1,650** | |
| **Unallocated** | **0** | 8,900 minus 6,000, 1,250 and 1,650 |

Saving rate, defined here as money saved for the future divided by
take-home income plus all workplace retirement contributions (your own
payroll deduction and the employer's match). The employer's money is
added to both the top and the bottom of the fraction, because it is
part of your pay package even though it never reaches your bank
account:

$$
\text{Saving rate} = \frac{\text{Employee contributions} + \text{Employer contributions} + \text{Other saving}}{\text{Take-home income} + \text{Employee contributions} + \text{Employer contributions}}
$$

*Example:* retirement contributions are 800 (employee) plus 400
(employer) = 1,200 a month; other saving is 300 + 365 + 215 + 170 =
1,050, so the saving rate is (1,200 + 1,050) / (8,900 + 1,200) =
2,250 / 10,100 = 22.3%. The extra card payment is not counted as
saving, although it raises net worth in the same way. State which
definition you use and keep it from year to year; a rate measured on
gross income, for example, gives a lower figure (2,250 / 12,233 =
18.4%, where 12,233 is gross pay of 11,833 plus the 400 employer
match).

Irregular costs (car registration, annual subscriptions, birthdays)
are the most common reason a monthly plan fails. Either include them
as monthly amounts set aside, or list them here with the month they
fall due: [Irregular cost, amount, month].

## 4. Net worth snapshot

<!-- Guidance: Copy the totals from the latest Net Worth Statement rather than recalculating them here. The point of this section is the trend and what it says about the plan. -->

| Item | Previous (2026-03-31) | Current (2026-09-30) | Change |
|---|---|---|---|
| Total assets *(Example)* | 627,700 | 641,000 | +13,300 |
| Total liabilities *(Example)* | 305,315 | 295,500 | -9,815 |
| **Net worth** *(Example)* | **322,385** | **345,500** | **+23,115** |
| Cash and cash equivalents | 20,900 | 22,200 | +1,300 |
| Liquidity (months of essentials) | 3.5 | 3.7 | +0.2 |
| Debt-to-asset ratio | 48.6% | 46.1% | -2.5 points |

Source: Net Worth Statement (`personal/net-worth-statement`), IDs
NWS-2026-Q1 and NWS-2026-Q3.

What it tells us: *Example:* "Net worth is rising, mostly from our own
saving (10,900) and debt repayment (9,815) rather than market gains
(3,900, less a 1,500 fall in car values). Cash is the weak point: 3.7 months of essentials against our six-month target."

## 5. Emergency fund

<!-- Guidance: An emergency fund is cash set aside for genuine surprises: job loss, urgent repairs, medical bills. Decide the target, where it is kept and what counts as an emergency. Detail lives in the Emergency Fund Plan. -->

The target is a number of months of essential spending. Three to six
months is a common starting range in public financial-education
material; households with one income, variable pay, dependants or
large insurance deductibles often choose more. This is a rule of
thumb, not a requirement.

$$
\text{Target} = \text{Essential monthly spending} \times \text{Months of cover}
$$

| Item | Value |
|---|---|
| Essential monthly spending *(Example)* | 6,000 |
| Months of cover chosen *(Example)* | 6 (two incomes, but one dependant and a mortgage) |
| Target *(Example)* | 36,000 |
| Held now (emergency account only) *(Example)* | 18,000 |
| Gap *(Example)* | 18,000 |
| Where it is kept | [Instant-access savings account protected by a deposit guarantee scheme where available] |
| Funding *(Example)* | 300 a month to 2027-03 (balance 19,800), then 1,000 a month; target reached in 2028-08 (interest ignored) |
| What counts as an emergency | Loss of income, urgent home or car repair needed for work, medical or care costs, insurance excess |
| What does not | Holidays, planned purchases, sales and offers |
| Refill rule | After any withdrawal, raise the monthly amount until the balance is back at target |

Why 2028-08: from 2027-04 the gap is 36,000 minus 19,800 = 16,200. At
1,000 a month that needs 16.2 deposits, so 16 full deposits plus a
final 200 in the 17th month, August 2028.

## 6. Debt strategy

<!-- Guidance: List every debt with its rate, then decide the order of extra payments. Paying the highest rate first (avalanche) costs least; paying the smallest balance first (snowball) gives quick wins. Either works if you stick to it. Detail lives in the Debt Payoff Plan. -->

| Debt | Balance | Rate | Minimum | Strategy |
|---|---|---|---|---|
| Credit card B *(Example)* | 3,400 | 22.9% | 100 | Pay 700 a month until clear (GOAL-002) |
| Credit card A *(Example)* | 2,100 | 21.0% | Full balance | Keep paying in full every month; no interest |
| Car loan *(Example)* | 9,600 | 6.4% | 330 | Pay as scheduled (final payment 2029-05); option to clear early from 2028-09 |
| Student loan *(Example)* | 12,400 | 5.0% | 160 | Pay as scheduled (final payment 2034-07); check for income-based options |
| Mortgage *(Example)* | 268,000 | 4.1% fixed to 2029 | 1,950 | Pay as scheduled (final payment 2042-03 if the rate stays 4.1%); review before the fixed rate ends |

Credit card B payoff, with monthly interest at 22.9% / 12 = 1.908%
and a payment of 700:

| Month | Interest | Payment | Balance after payment |
|---|---|---|---|
| 2026-10 *(Example)* | 64.88 | 700.00 | 2,764.88 |
| 2026-11 *(Example)* | 52.76 | 700.00 | 2,117.65 |
| 2026-12 *(Example)* | 40.41 | 700.00 | 1,458.06 |
| 2027-01 *(Example)* | 27.82 | 700.00 | 785.88 |
| 2027-02 *(Example)* | 15.00 | 700.00 | 100.88 |
| 2027-03 *(Example)* | 1.93 | 102.81 | 0.00 |

Total interest paid: 202.81. The number of months can also be found
with the standard formula, where $B$ is the balance, $r$ the monthly
rate and $P$ the monthly payment:

$$
n = \frac{-\ln\left(1 - \frac{rB}{P}\right)}{\ln(1 + r)}
$$

*Example:* $n = 5.15$, so the card is clear in the sixth month.

Guardrails: no new borrowing on card B; card A only for spending
already in the budget; any windfall (tax refund, bonus) splits [50%]
to the current priority goal and [50%] to the household's choice.

## 7. Protection and insurance

<!-- Guidance: Ask what would happen to the plan if each adult died, became unable to work, or if the home were damaged or someone sued you. Insurance covers the events you could not pay for yourselves. Detail lives in the Insurance Review. -->

| Risk | Current cover | Gap or action |
|---|---|---|
| Death of an earner | Employer life cover 2 times salary each, plus 20-year term life policies (Sam 500,000, Jordan 250,000) *(Example)* | Estimate need below; the Insurance Review tests each policy |
| Long illness or disability | [Employer sick pay, disability or income protection insurance] | *Example:* check how long Jordan's employer pays sick pay |
| Health costs | [Public system / Employer plan / Private policy] | [Action] |
| Home and contents | Home insurance via lender *(Example)* | Check contents value after recent purchases |
| Liability (injury to others) | [Policy] | [Action] |
| Vehicles | Motor insurance on both cars *(Example)* | Compare at renewal |
| Long-term care for a parent | None *(Example)* | Discuss with Jordan's siblings before 2028 |

A simple life cover needs estimate adds what the family would need and
subtracts what is already available:

$$
\text{Cover need} = \text{Debts to clear} + \text{Goals to fund} + \text{Years of support} \times \text{Annual support} - \text{Available assets} - \text{Existing cover}
$$

*Example* for Sam, with all figures chosen by the household:
268,000 (mortgage) + 60,000 (education goal) + 5 years times 40,000
(support while Jordan adjusts) = 528,000. Less cash and investments
of 58,500 (22,200 cash + 26,500 general investments + 9,800 already
in the education account) and employer cover of 164,000 (2 times
82,000) leaves a gap of 305,500 before personal policies. Retirement
accounts are left out of available assets because they are needed for
Jordan's own retirement. Sam's existing term policy of 500,000 covers
this gap; the Insurance Review (`personal/insurance-review`) repeats
the test with a fuller income-replacement method and records whether
each policy still fits. This is an illustration of the arithmetic, not
a recommendation of an amount.

## 8. Investing

<!-- Guidance: Match each pot of money to the goal it serves and to that goal's time horizon. Money needed within a few years should not depend on share prices. Write the rules you will follow when markets fall, before they fall. -->

| Pot | Goal | Time horizon | Approach | Current value |
|---|---|---|---|---|
| Emergency account *(Example)* | GOAL-001 | Any time | Cash only | 18,000 |
| Car fund *(Example)* | GOAL-003 | 3 years | Cash or short fixed-term deposits | 1,000 |
| Education account *(Example)* | GOAL-004 | 12 years | Diversified fund mix, moving to lower risk from about 2034 | 9,800 |
| General investment account *(Example)* | Flexibility, early retirement | 10 years or more | Broad, low-cost diversified funds | 26,500 |
| Retirement accounts *(Example)* | GOAL-005 | 20 years or more | Diversified fund mix in line with risk profile | 152,000 |

Principles we follow:

- Keep costs low: compare total annual charges, because a difference
  of one percentage point a year compounds into a large sum over
  decades.
- Diversify: hold many companies, countries and asset types rather
  than a few individual shares.
- Rebalance on a rule: [once a year / when an asset class drifts more
  than [5] percentage points from its target].
- Do not sell in a fall because of the fall alone; act only if the
  goal or the time horizon has changed.
- Understand anything before buying it; if a product promises high
  returns with no risk, treat it as a warning sign.

Expected returns used in projections should be after inflation (real
returns). The relationship between nominal return $n$, inflation $i$
and real return $r$:

$$
r = \frac{1 + n}{1 + i} - 1
$$

*Example:* a nominal 5% with 3% inflation gives a real return of
about 1.94%, not 2%. A more formal statement of investment rules is
the Investment Policy Statement for individuals
(`finance/investment-policy-statement-individual`).

## 9. Retirement

<!-- Guidance: Retirement is usually the largest goal and the one most affected by starting early. Summarise the target and the current track here; keep the projection in the Retirement Plan. Pitfall: ignoring public and workplace pensions that will pay part of the income. -->

| Item | Detail |
|---|---|
| Target retirement age | [Age] (*Example:* both about 62, with the option to work part-time from 58; the Retirement Plan fixes the date as 2051-09, when Sam is 63 and Jordan 61) |
| Target retirement income in today's money | [Amount a year] (*Example:* USD 70,000 a year) |
| Expected public pension income | [From official statements] |
| Expected defined benefit pension | [From statements] (*Example:* Jordan, small pension from an earlier employer) |
| Retirement savings now | [Amount] (*Example:* 152,000) |
| Contributions now | [Amount a month] (*Example:* 1,200 a month through payroll: Sam and Jordan 800 together, employers' match 400) |
| Projection status | [On track / Gap of [amount] a year] (from the Retirement Plan) |
| Action | *Example:* raise contributions by 1% of salary each year until the projection shows no gap |

Check where your employer adds money only when you contribute (a
match). Not contributing enough to receive the full match leaves part
of your pay unclaimed. The Retirement Plan (`personal/retirement-plan`)
holds the projection, the income sources and the withdrawal strategy.

## 10. Tax planning checklist

<!-- Guidance: This is a list of questions to ask each year, not tax advice. Rules differ by country and change often; confirm with your tax authority or a qualified adviser. -->

| Question | Answer and action |
|---|---|
| Are we using the tax-advantaged retirement accounts available to us? | [Answer] |
| Are we using tax-free savings or investment accounts where they exist? | [Answer] |
| Are there credits or allowances for children, childcare or education we do not claim? | [Answer] |
| Is income or ownership of savings split between us in a tax-efficient and legally valid way? | [Answer] |
| Do we keep the records needed to file accurately and on time? | See Tax Document Checklist (`personal/tax-document-checklist`) |
| Will selling investments this year create a taxable gain we could plan for? | [Answer] |
| Do any foreign accounts or income create extra reporting duties? | [Answer] |
| What is the filing deadline and who files? | [Date, person] |

## 11. Estate, documents and family

<!-- Guidance: If one of you died or could not make decisions tomorrow, could the other find everything and act? This section answers that with a short status list. Wills and powers of attorney work differently in each country; get local legal advice. -->

| Item | Status | Action and date |
|---|---|---|
| Will for each adult | [In place, dated / Missing] | *Example:* write wills with a lawyer by 2027-01 |
| Guardian named for children | [Named in will / Not yet] | [Action] |
| Power of attorney or equivalent for money and health decisions | [Status] | [Action] |
| Beneficiary nominations on pensions and insurance | [Checked on date] | Check after any life event |
| Emergency document file | [Up to date / Missing] | See Emergency Document File (`personal/emergency-document-file`) |
| Password manager emergency access | [Set up / Not set up] | Never write passwords in this plan |
| Digital accounts and photos | [Instructions recorded / Not yet] | [Action] |
| Support for a parent | [Plan] | *Example:* family conversation before 2028 |

## 12. Action plan

<!-- Guidance: Every decision in sections 2 to 11 becomes one row here, with one owner and one date. Review this table monthly. A plan with no actions is a description, not a plan. -->

| ID | Action | Section | Owner | Due | Status |
|---|---|---|---|---|---|
| ACT-001 *(Example)* | Set up automatic 700 monthly payment to card B | 6 | Jordan | 2026-10-05 | Done |
| ACT-002 *(Example)* | Set up automatic transfers: 300 emergency, 365 car, 215 education, 170 investing | 3 | Sam | 2026-10-05 | Done |
| ACT-003 *(Example)* | Remove card B from online shopping accounts | 6 | Jordan | 2026-10-15 | Open |
| ACT-004 *(Example)* | Check both term life policies against the need in the Insurance Review and get a quote for Jordan's income protection | 7 | Sam | 2026-12-15 | Open |
| ACT-005 *(Example)* | Book will and guardianship appointment | 11 | Both | 2027-01-31 | Open |
| ACT-006 *(Example)* | Check retirement projection and employer match | 9 | Both | 2027-01-31 | Open |
| ACT-007 *(Example)* | Redirect 700 card payment to emergency fund | 5, 6 | Jordan | 2027-04-01 | Planned |
| ACT-008 *(Example)* | Review mortgage options before fixed rate ends | 6 | Sam | 2029-03-31 | Planned |
| [ACT-NNN] | [Action] | [Section] | [Owner] | YYYY-MM-DD | [Open / Done] |

Traceability from goals to actions, so that every goal has at least
one action and every action serves a goal or a risk:

| Goal or risk | Actions |
|---|---|
| GOAL-001 Emergency fund | ACT-002, ACT-007 |
| GOAL-002 Card B | ACT-001, ACT-003 |
| GOAL-003 Car fund | ACT-002 |
| GOAL-004 Education | ACT-002 |
| GOAL-005 Retirement | ACT-006 |
| Death or incapacity of an earner | ACT-004, ACT-005 |
| Mortgage rate reset | ACT-008 |

## 13. Monitoring and annual review

<!-- Guidance: Decide how often you look at each part of the plan, and what event forces an early review. Short, regular check-ins work better than long, rare ones. -->

| Frequency | What we check | Time needed |
|---|---|---|
| Monthly | Budget against actual spending, automatic transfers happened, action plan status | 30 minutes |
| Quarterly | Goal progress table, debt balances, net worth (if tracked quarterly) | 1 hour |
| Yearly | Whole plan: profile, goals, insurance, investments, retirement projection, estate documents; new version of this document | Half a day |

Events that trigger an early review: job loss or new job, birth or
adoption, separation, serious illness, death in the family,
inheritance, home move, a large fall or rise in markets that changes
a goal, and changes to tax or pension rules that affect you.

```mermaid
flowchart TD
  M["Monthly check-in"] --> Q{"Quarter end?"}
  Q -- "No" --> M
  Q -- "Yes" --> QR["Quarterly progress review"]
  QR --> Y{"Plan anniversary or trigger event?"}
  Y -- "No" --> M
  Y -- "Yes" --> AR["Full annual review and new version"]
  AR --> M
```

## 14. Working with a financial adviser

<!-- Guidance: Use this section when you involve a professional. Knowing how they are paid and what they are allowed to advise on matters as much as their recommendations. -->

| Question to ask | Answer |
|---|---|
| What licence or registration do you hold, and with which regulator? | [Answer and register reference] |
| What areas can you advise on (investments, pensions, insurance, tax, mortgages)? | [Answer] |
| How are you paid: fee, commission, percentage of assets, or a mix? | [Answer and amount] |
| Are you restricted to certain providers' products? | [Answer] |
| What formal advice document will you give us? | [Answer] |
| How do you store our data, and for how long? | [Answer] |
| How do we complain, and to which independent body? | [Answer] |

In several countries a regulated adviser who gives personal advice
must provide a formal written advice document with its own legal
content rules. Examples, as of 2026-10: a suitability report under the
EU MiFID II framework (see Suitability Report,
`compliance/mifid-suitability-report`), and a Statement of Advice in
Australia under the Corporations Act 2001, section 946A. Check what
applies where you live. This household plan can be shared with the
adviser as input and used to record what you decided, but it does not
replace their document.

Professional planners often work to practice standards set by
financial planning bodies, for example CFP Board in the United States
and the Financial Planning Standards Board internationally, and to
ISO 22222 (personal financial planning). These are named for
orientation only; this template does not reproduce them.

## 15. Local equivalents

<!-- Guidance: Account and pension names differ by country. Use this table to translate the neutral terms in this plan into your local products, then check the rules with your tax authority or pension provider. -->

Names only, as of 2026-10; not exhaustive, not advice. Check local
rules before acting.

| Concept | United States | United Kingdom | Canada | Australia | Germany | France | Japan | India |
|---|---|---|---|---|---|---|---|---|
| Public pension | Social Security | State Pension | CPP or QPP, and OAS | Age Pension | Gesetzliche Rentenversicherung | Régime de base | National Pension (Kokumin Nenkin), Employees' Pension Insurance (Kosei Nenkin) | EPS (EPFO, formal-sector employees); Atal Pension Yojana (voluntary) |
| Workplace retirement plan | 401(k), 403(b) | Workplace pension | Registered pension plan (RPP), group RRSP, PRPP | Superannuation | Betriebliche Altersversorgung (bAV) | PER collectif | Corporate defined contribution (DC) pension | EPF |
| Individual retirement account | Traditional IRA, Roth IRA | SIPP, Lifetime ISA | RRSP | Voluntary super contributions | Riester, Rürup | PER individuel | iDeCo | NPS, PPF |
| Tax-advantaged saving or investing | Health Savings Account (HSA) | Cash ISA, Stocks and shares ISA | TFSA, FHSA | [Check local rules] | [Check local rules] | PEA, assurance-vie | NISA | ELSS, PPF |
| Education saving | 529 plan | Junior ISA | RESP | [Check local rules] | [Check local rules] | [Check local rules] | [Check local rules] | Sukanya Samriddhi Yojana (for daughters) |
| Formal advice document from a regulated adviser | [Check adviser's regulator] | Suitability report | [Check provincial rules] | Statement of Advice | Geeignetheitserklärung (MiFID II) | Déclaration d'adéquation (MiFID II) | [Check local rules] | [Check local rules] |

Further countries (names only, as of 2026-10, check local rules):

| Country | Public or mandatory pension | Workplace plan | Individual retirement or tax-advantaged account | Formal advice document |
|---|---|---|---|---|
| Singapore | Central Provident Fund (CPF), with CPF LIFE payouts | CPF contributions by employer and employee | Supplementary Retirement Scheme (SRS) | [Check MAS rules] |
| South Korea | National Pension | Retirement pension (DB or DC type) | Individual Retirement Pension (IRP), pension savings account, ISA | [Check local rules] |
| China | Basic pension insurance | Enterprise annuity | Individual pension account | [Check local rules] |
| Vietnam | Social insurance pension (BHXH) | Voluntary supplementary pension | Voluntary pension insurance | [Check local rules] |
| Indonesia | BPJS Ketenagakerjaan (old-age and pension programmes) | Employer pension fund (DPPK) | Financial institution pension fund (DPLK) | [Check local rules] |
| Spain | Seguridad Social retirement pension | Plan de pensiones de empleo | Plan de pensiones individual | Declaración de idoneidad (MiFID II); check CNMV terminology |

Where a mandatory scheme such as CPF also pays for housing, health
costs or education, record those uses in the matching sections of this
plan (cash flow, protection, goals) so the retirement projection in
section 9 uses only the part that will remain for retirement.

## 16. Glossary and references

<!-- Guidance: Define every term a family member might not know. Add sources you rely on for local rules, with the date you checked them. -->

### Glossary

| Term | Meaning |
|---|---|
| Cash flow | Money coming in minus money going out over a period |
| Essential spending | Costs you must pay every month even in a bad month |
| Net worth | Everything you own minus everything you owe |
| Emergency fund | Cash kept for genuine surprises, not for planned spending |
| APR | Annual percentage rate: the yearly cost of borrowing, including some fees |
| Avalanche method | Paying extra on the highest-rate debt first |
| Snowball method | Paying extra on the smallest balance first |
| Diversification | Spreading money across many investments so one failure hurts less |
| Real return | Investment return after taking away inflation |
| Employer match | Money an employer adds to your retirement account when you contribute |
| Term life insurance | Life cover for a fixed number of years, with no savings element |
| Power of attorney | A legal document letting someone act for you if you cannot; names and rules vary by country |
| Rebalancing | Moving money between investments to get back to your chosen mix |

### References

| Source | Version or date | Use in this template |
|---|---|---|
| Consumer Financial Protection Bureau, "Your Money, Your Goals: A financial empowerment toolkit", consumerfinance.gov | Toolkit page, English version updated 2020-06; checked 2026-10-25 | General topics of household planning (goals, cash flow, debt); public domain; no text reused |
| G20/OECD INFE Core Competencies Framework on Financial Literacy for Adults | 2016 | Competence area names: money and transactions; planning and managing finances; risk and reward; financial landscape |
| European Commission and OECD, Financial Competence Framework for Adults in the European Union | 2022-01 | Named as a further reading on adult financial competence |
| CFP Board, Code of Ethics and Standards of Conduct and practice standards | Current edition, name only | Named for orientation; not reproduced |
| Financial Planning Standards Board, financial planning practice standards | Current edition, name only | Named for orientation; not reproduced |
| ISO 22222, Personal financial planning: requirements for personal financial planners | 2005 edition; check current status at iso.org | Named only |
| Corporations Act 2001 (Australia), section 946A | Check the current compilation at legislation.gov.au | Statement of Advice obligation, cited by section number only |
| Directive 2014/65/EU (MiFID II), Article 25(6) | Consolidated text on EUR-Lex | Suitability report to retail clients, cited by article only |
| FEMA and Ready.gov, Emergency Financial First Aid Kit | Checked 2026-10-25; use the date shown on the live page | Further reading for section 11 |

## Standard and licence note

Based on the household planning topics in public consumer-finance
education, including the US Consumer Financial Protection Bureau
"Your Money, Your Goals" toolkit (a US federal work in the public
domain), with competence area names from the G20/OECD INFE Core
Competencies Framework on Financial Literacy for Adults (2016) and the
EU/OECD Financial Competence Framework for Adults (2022), cited by
name. This adaptation does not represent the official views of the
OECD or its Member countries. CFP Board, the Financial Planning
Standards Board and ISO 22222 are named for orientation only; their
standards are not quoted or paraphrased, and this template is not
affiliated with or endorsed by any of them. Legal references (MiFID II
Article 25(6), Corporations Act 2001 section 946A) are cited by number;
obtain the law for the normative text. The structure, wording,
formulas and the fictional Ellison household example are original.
Check current official sources and local rules before relying on any
name or rule. This is a document format, not financial, investment,
tax, legal, insurance or accounting advice. Template licence: MIT.