A Financial forecast can refer to an annual projection of business income and expenses for a company, division or department.
Do you have a financial forecast?
A financial plan may contain prospective financial statements, which are similar, but different, than a budget.
Do you have a financial plan?
There are many strategies to achieve financial independence, each with their own benefits and drawbacks. To achieve financial independence, it will be helpful if you have a financial plan and budget, so you know what money is coming in and going out, have a clear view of your current incomes and expenses, and can identify and choose appropriate strategies to move towards your financial goals. A financial plan addresses every aspect of your finances.