Debt repayment if you have debts (Debt Repayment plan)
Building your nest-egg (Retirement plan)
Personal & children’s education (Education plan)
Small ticket items (Savings Plan)
Big ticket items (Investment Plan)
Holiday & Recreational activities (Leisure Plan)
Tithe & charitable giving (‘Giving Back’ Plan)
As you can see, your spending plan combines together all the
other subset plans. Therefore, achieving your financial goals
will require you to set up a spending plan that will include each
subset plan that you will come up with.
Is a spending plan the same as a budget? That’s right!
Your budget will include all of the above items and not just
your daily and monthly upkeep.