What aspect of financial planning might you discuss with a friend who buys fancy coffee drinks twice a day, visits the mall at least once a week for recreational shopping, and prefers impulse buying to carefully researched purchasing?

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.