Date of this Version



© 1993, The Board of Regents of the University of Nebraska on behalf of the University of Nebraska–Lincoln Extension. All rights reserved.


This NebGuide discusses the importance of financial planning, the results of not planning finances, and the important steps to take in making a financial plan.

Achieving financial security in today's rapidly changing world requires more than earning an adequate income. Making sound decisions about managing financial resources is essential if financial success and security is to be attained. Financial planning refers to this decision making process.

Financial planning is the continuing process of decision making about obtaining, protecting, and using financial resources throughout life. Financial planning means developing and implementing plans to meet defined financial goals and objectives.

Financial goals are general, broad ideas of what you want to achieve with financial resources. An example of a financial goal is to send a child to college.