Creating Your Personal Financial Plan

Directions: Print out this page and use the worksheet to help you develop your own financial plan. Printing in Landscape mode will improve readability. If you use Internet Explorer and Excel, go back to Related Links and select the Live Version to get an Excel version.

1. Number of coaching clients            
2. Dollars per client per month            
3. Total client revenue (1*2)            
4. Workshop or speaking revenue            
5. Gross coaching revenue (3+4)            
6. Estimated business expenses            
7. Tax impound (savings for tax payments)            

8. Net coaching revenue

9. Income from other sources            
10. Personal expenses            
11. Personal savings            
12. Discretionary funds

#6: Refer to The Business of Coaching (pages 95-100) to estimate business expenses.
#9: “Income from other sources” can include income from part-time jobs, contract work, use of savings, etc.
#11: “Personal savings” can include funds put into retirement savings, personal savings, or investments.
#12: “Discretionary funds” is the amount you have left once you pay all your bills and take care of your savings and impounds (e.g. for taxes). This amount should be greater than zero.