In the typical consumer's financial life cycle, one difference between stage 2 and stage 3 is that in stage 3 you will earn more than you spend, whereas in stage 2 you will spend more than you earn.

What is the most important step in financial planning?
Monitoring Your Financial Progress. Regular communication and follow-up are important steps in the financial planning process. In fact, creating the plan is really just the first step. You'll have ongoing contact with your planner to find out whether you are on track to meet your financial goals.