Family Financial Vision Worksheet

Educational PurposeThis worksheet helps families define what financial well-being means to them and create a shared picture of the future they want to build. Unlike the Family Goal Setter Workbook, which focuses on selecting and completing specific goals, this worksheet focuses on the larger vision behind those goals.

Part 1. Our Family Information

Part 2. What Does Financial Well-Being Mean to Us?

Complete this statement together:

Financial security may include:

• ☐Bills are paid on time
• ☐Emergency savings are available
• ☐Debt is manageable
• ☐We can save consistently
• ☐We have appropriate insurance
• ☐We can support our children
• ☐We are preparing for retirement
• ☐We can help relatives responsibly
• ☐We can enjoy life without creating financial hardship
• ☐We understand where our money is going
• ☐Other

Part 3. Our Most Important Family Values

Select the values that should guide your financial decisions.

• ☐Security
• ☐Stability
• ☐Faith
• ☐Family connection
• ☐Education
• ☐Independence
• ☐Generosity
• ☐Homeownership
• ☐Freedom from debt
• ☐Career growth
• ☐Entrepreneurship
• ☐Health
• ☐Travel and experiences
• ☐Community service
• ☐Retirement readiness
• ☐Leaving a legacy
• ☐Simplicity
• ☐Other

Part 4. Lessons From Our Past

Our financial past may influence the future we want to create.

Part 5. Our Present Financial Reality

What is currently working well?

• ☐Income is stable
• ☐Bills are paid consistently
• ☐We have emergency savings
• ☐We save for retirement
• ☐Debt is decreasing
• ☐We communicate openly
• ☐We have clear financial goals
• ☐We have appropriate insurance
• ☐We plan for major expenses
• ☐Other

What currently needs attention?

• ☐Income is too low or unpredictable
• ☐Spending is difficult to manage
• ☐Emergency savings are limited
• ☐Debt is too high
• ☐Retirement preparation is behind
• ☐We do not communicate regularly
• ☐We lack clear financial priorities
• ☐We are supporting too many obligations
• ☐Important documents are disorganized
• ☐Other

Part 6. Our One-Year Vision

One year from now, we want:

Part 7. Our Five-Year Vision

Five years from now, we hope to have:

• ☐A fully funded emergency reserve
• ☐Less consumer debt
• ☐No consumer debt
• ☐A home
• ☐A lower mortgage balance
• ☐Stronger retirement savings
• ☐Education savings
• ☐A growing business
• ☐Multiple income sources
• ☐Reliable transportation
• ☐Greater financial flexibility
• ☐More time for family
• ☐Better insurance protection
• ☐Other

Part 8. Our Ten-Year and Long-Term Vision

Our long-term priorities may include:

• ☐Retirement security
• ☐Mortgage payoff
• ☐College or education support
• ☐Business ownership
• ☐Investment growth
• ☐Supporting aging parents
• ☐Travel
• ☐Charitable giving
• ☐Helping children begin adulthood
• ☐Leaving an inheritance
• ☐Owning additional property
• ☐Reducing work hours
• ☐Other

Part 9. Our Career and Income Vision

Career priorities

• ☐Stable employment
• ☐Higher salary
• ☐Better employee benefits
• ☐Career advancement
• ☐Flexible schedule
• ☐Remote or hybrid work
• ☐Business ownership
• ☐Additional income source
• ☐Less stressful work
• ☐More time with family
• ☐Other

Part 10. Our Home and Lifestyle Vision

Our preferred housing future

• ☐Continue renting
• ☐Purchase a first home
• ☐Remain in our current home
• ☐Pay off the mortgage
• ☐Move to a different home
• ☐Downsize
• ☐Build or renovate
• ☐Purchase investment property
• ☐Unsure

Experiences that are important to our family

• ☐Family travel
• ☐Cultural traditions
• ☐Celebrations
• ☐Children's activities
• ☐Faith and community involvement
• ☐Time together
• ☐Supporting relatives
• ☐Hobbies
• ☐Other

Part 11. Our Children and Education Vision

Financial lessons we want our children to learn

• ☐Saving
• ☐Budgeting
• ☐Needs versus wants
• ☐Responsible borrowing
• ☐Generosity
• ☐Working and earning
• ☐Investing
• ☐Avoiding financial secrecy
• ☐Planning for education
• ☐Other

Part 12. Our Extended-Family Support Vision

Types of support we may provide

• ☐Emergency help
• ☐Regular monthly support
• ☐Healthcare expenses
• ☐Education
• ☐Housing
• ☐Transportation
• ☐Support for aging parents
• ☐Other

Our family-support principles — we agree that:

• ☐Essential household needs come first
• ☐Significant support will be discussed together
• ☐Support will have a clear amount or limit
• ☐We will distinguish gifts from loans
• ☐We will review ongoing support regularly
• ☐We will avoid using debt to meet every request
• ☐Other

Part 13. Our Retirement Vision

Possible retirement income sources

• ☐Social Security
• ☐Employer pension
• ☐Workplace retirement accounts
• ☐Individual retirement accounts
• ☐Personal savings
• ☐Investments
• ☐Business income
• ☐Rental income
• ☐Annuity income
• ☐Other

Part 14. Our Protection Vision

Our financial vision should include protection against major risks. We need to review:

• ☐Emergency savings
• ☐Health insurance
• ☐Life insurance
• ☐Disability coverage
• ☐Homeowners or renters insurance
• ☐Auto insurance
• ☐Liability coverage
• ☐Estate-planning documents
• ☐Beneficiary designations
• ☐Long-term care planning
• ☐Business protection
• ☐Other

Part 15. Our Generosity and Legacy Vision

What do we hope to leave behind?

• ☐Financial assets
• ☐Property
• ☐Education opportunities
• ☐A family business
• ☐Charitable impact
• ☐Strong financial habits
• ☐Family values
• ☐Organized financial records
• ☐Other

Part 16. Habits That Support Our Vision

To build our future, we will:

• ☐Follow a household budget
• ☐Track spending
• ☐Save automatically
• ☐Hold monthly money meetings
• ☐Reduce high-interest debt
• ☐Prepare for annual expenses
• ☐Increase income
• ☐Review insurance
• ☐Contribute to retirement
• ☐Discuss major purchases
• ☐Update beneficiaries and documents
• ☐Teach children about money
• ☐Review goals regularly
• ☐Other

Part 17. What Could Prevent Us From Reaching the Vision?

Possible obstacles include:

• ☐Income loss
• ☐Overspending
• ☐High debt
• ☐Lack of communication
• ☐Family pressure
• ☐Health concerns
• ☐Lack of emergency savings
• ☐Irregular income
• ☐Trying to pursue too many goals
• ☐No written plan
• ☐Avoiding difficult decisions
• ☐Other

Part 18. Our Top Financial Priorities

Based on our vision, our priorities are:

Part 19. Our First Three Actions

Part 20. Write Our Family Financial Vision Statement

Use your answers to create a short statement describing the financial future your family wants to build.

Part 21. Family Commitment

We agree to:

• ☐Discuss money honestly
• ☐Respect each other's concerns
• ☐Avoid financial secrecy
• ☐Make major decisions together
• ☐Review our vision regularly
• ☐Adjust the plan when life changes
• ☐Recognize progress
• ☐Seek qualified guidance when needed