Implementing Implementing is taking the action steps identified in the plan. Identifying benchmarks along the way helps in monitoring the effectiveness of the plan. Recordkeeping Recordkeeping provides an understanding of how money is managed. It provides information to assess progress toward goals and helps identify the need for adjustments in the plan. It details what a person plans to spend or save, provides a comparison for monitoring the plan, and provides a record of what was actually spent or saved.
Most tools are available in different forms to meet individual needs and preferences.