Evaluate the spending plan periodically

Life’s Financial Journeys

Heading Off to College
Getting Out on Your Own
Blending Two Lives
Having a Child
Emptying the Nest
Entering Retirement
Death of a Life Partner
Military Life

Recognize that your new spending plan needs to be flexible. You have entered a new phase of your life for which you probably have little experience. It may take up to a year to fine-tune your spending plan to fit your new reality.

The following resources may assist you in evaluating the spending plan periodically:

How Evaluating Fits Into the Budgeting Process

Death of a Life Partner Tasks

1. Taking stock of your financial situation
2. Identifying your sources of income
3. Revising your spending plan
4. Revising your estate plan and advance directives
5. Examining Medicare, Medicaid, and long-term care issues

Revising your spending plan Subtasks

1. Review bank and credit statements
2. List and prioritize all monthly or annual account payments
3. Develop a spending plan
4. Evaluate the spending plan periodically


NAPFA Consumer Education Foundation
8700 W. Bryn Mawr Ave., Suite 700N
Chicago, IL 60631
(847) 483–5400 ext. 106