How to do a Personal Financial Planning 2023

The first step when talking about personal financial planning is to know what your monthly income and monthly expenses are. It seems basic, however, professionals who do not have a fixed salary often do not know how much they earn, how much they spend and how much they save per month, when they save.

Thus, the first attitude of every professional is to have a control to understand what is the destination of the salary, that is, what are their main monthly expenses. After having made this control, which can be through cell phone applications, spreadsheets or even notebook notes, it is necessary to take the most important step in personal finances and, also, the most difficult: saving

When we talk about financial planning, it’s no use having a high salary if you spend everything in the month. How will financial planning be done if there is no money available to invest? So, if you want to achieve some financial goal in the future, the time is now! And starting to save, every month, is your first and biggest challenge.

Defining the goals

If you managed to complete the first steps, now the journey begins and the first thing to do is define what your goals are. To do this, make a list of the main ones and organize them according to priority, that is, from the most important to the least important.

After making this list, estimate the financial value to achieve these goals, for example: If you want to buy a house, what is the price of that house? If it is a car, what is the price of this car?

Finally, it is necessary to define a deadline for achieving these goals, that is: I want to buy a house, which costs R$ 1,000,000 in 10 years. To better illustrate, here is a list of objectives as an example:

Buy a house1R$ 1.000.00010 years
Buy a cartwoR$ 50.0002 years
Wedding party3R$ 100.0003 years
Retirement4R$ 1.000.00025 years
Trip abroad5R$ 15.000every year

Checking the feasibility of objectives

After defining how much you save per month and what your goals are, now is the time to see if your dream is possible or not. To make this verification, several assumptions must be made, after all, we do not know what the future will be like in relation to the economy, its savings capacity, inflation, etc.

I will use as an example the main objective: the purchase of the house

Considering the following premises:

  • Monthly savings capacity: BRL 2000
  • Monthly return on investments: 0.9%
  • There are no accumulated reservations, meaning you will start from scratch.
  • Term: 10 years
  • Objective: to accumulate BRL 1,000,000
  • Let’s consider buying the house in cash, without financing.
  • Let’s ignore inflation in this simulation

Doing the calculations, you would have accumulated approximately R$ 428,997. That is, less than half to buy the house.

You’ve probably asked yourself: “Since I can’t afford to buy the house with R$2000 a month, how much would I need to save per month to achieve this goal?” The answer is: BRL 4,662

That is, you should more than double your monthly savings capacity to reach your first goal, within the desired time frame.

It should be noted that we are talking about just one objective, if you wanted to achieve the other goals within the desired period, your need for monthly savings would be much greater, to be more exact, you would need to invest every month, approximately R$ 10,746.

  • House purchase: BRL 4,662 / per month
  • Car purchase: BRL 1,875 / per month
  • Wedding party: BRL 2,364 / per month
  • Retirement: BRL 656 / per month
  • Annual trip abroad: BRL 1,189 / per month

Knowing that the investment capacity is only R$ 2000 per month, what should be done is to prioritize the achievement of objectives, extend the deadline for achieving them and/or obtain new sources of income to increase your investment capacity.


Note that so far I have not talked about financial products and investments, this is due to the fact that talking about financial products should be the last step when investing and not the first. It’s no use knowing everything about investments if you don’t know where you’re going, what you want to achieve, when, what priority, etc.

After having traced the initial financial planning, then the investment journey begins. In addition to knowing the advantages and disadvantages of each type of financial product, making comparisons between the different investments of financial institutions is a fundamental step in achieving your dreams. 

If you are interested in setting up your financial planning or discovering the best investments to achieve your goals, get in touch by clicking here and schedule an initial meeting, free of charge, so we can help you!

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