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Personal finance is unique to each individual and family (hence the "personal" part). It's important to consider your specific situation when looking for guidance on what to do with your money.

That said, sometimes you just want a set of guidelines to help get you moving in the right direction.

Figuring out where to allocate your money can sometimes feel overwhelming. We’ve seen how easy it is to inefficiently use cash by overspending, or even leaving too much money just sitting in the bank.

To make our conversation more meaningful and help you tackle this challenge, we’ve put together this flowchart that covers some important factors to consider when deciding where your next dollar should go.

Here are some questions we commonly address for our clients:

• Financial Security: Let’s assess your overall financial well-being, including stuff like your emergency fund, financial solvency, and whether you have adequate insurance coverage.
• Employer Benefits: We’ll explore any “free money” opportunities available through your employer’s benefits. Let’s make sure you’re taking full advantage of these perks to boost your financial situation.

To download a PDF version of the flowchart, click on the image and save it to your computer.

While you do need to consider the factors specific to your situation, this flowchart can give you the tools to think through how to allocate your money depending on certain factors in your financial life.