Using your own information $($or made$-$up information if you prefer$),$ go through the three steps in the financial planning process:$1.$ Evaluate your current financial status by creating a net worth statement and a cash flow analysis$\mathrm{.}2.$ Identify short$-$term, intermediate$-$term, and long$-$term financial goals$\mathrm{.}3.$ Create a budget $($for a month or a year$).$ Estimate future income and expenditures.Make up "actual" figures and calculate a variance by comparing budgeted figures with actual amounts.