Template: Initial Financial Planning for Your Project

If you've never worked with finances before, the thought of having to draw up a budget plan can be daunting. That's why we've created a ready-made template for you – completely stress-free.

Use this template to create an initial financial plan for your journalism project. Replace the placeholders with your specific figures and ideas.

We also have a ready-made Excel spreadsheet for budget planning. Simply enter your figures here and the rest will be calculated automatically.

Spreadsheet

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1. Monthly expenses:

MUST-HAVES:

• Rent/operating costs: [insert amount]

• Management: [insert amount]

• Personnel costs for community management: [insert amount]

• Personnel costs for project management: [insert amount]

• Freelancers (text work, authors): [insert amount]

• Tax consulting/annual financial statements: [insert amount]

• Technical infrastructure (server, email provider): [insert amount]

• (Freelance) programmer: [insert amount]

• Legal fees: [insert amount]

• Event costs (rent, drinks, food): [insert amount]

• Marketing costs (flyers, printed materials): [insert amount]

• Taxes: [insert amount]

NICE-TO-HAVES:

• Photographer (for professional photos): [insert amount]

• Travel expenses: [insert amount]

• Participation in events (conferences, meetings): [insert amount]

• Opportunities for further training for team members: [insert amount]

• Regular team-building activities (retreats, etc.): [enter amount]

Expected income:

• Month 1: [enter amount]

• Month 3: [enter amount]

• Month 6: [enter amount]

• Month 12: [enter amount]

Financial buffer & reserves:

• Available reserves: [enter amount]

• External sources of financing (e.g., severance payments, grants): [enter amount]

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2. Sources of income

What sources of income are you planning? Enter the relevant amounts.

• Memberships: [enter amount]

• Advertising/sponsorship: [enter amount]

• Subsidies/foundations: [enter amount]

• Crowdfunding: [enter amount]

• Cooperation partnerships: [enter amount]

Questions about strategy:

• Which sources of income can you activate in the short term?

• Which ones require long-term planning?

• What requirements must be met (e.g., specific reach, contacts)?

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3. Best- and worst-case scenarios

Plan for different scenarios and prepare for bottlenecks:

Best-case scenario (optimistic):

• Higher income than expected. How will you use the surplus? [Enter answer]

Realistic scenario:

• Revenue is in line with expectations. How will you develop your financing further? [Insert answer]

Worst-case scenario:

• Revenue falls short of expectations. Which costs can you cut? [Insert answer]

• Contingency plan: [Insert measures]

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4. Liquidity planning

Monthly fixed costs vs. available liquidity:

• Average monthly fixed costs: [insert amount]

• Expected monthly cash flow: [insert amount]

• Reserve for bottlenecks (ideally 3–6 months): [insert amount]

Measures to ensure liquidity:

• Which bills can be deferred?

• Are there any short-term financing options?

• Which expenses are flexible?

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5. Conclusion & next steps

• Review your financial planning regularly: [e.g., every 3 months]

• Expand your sources of financing: [insert specific measures]

• Set up a reserve fund: [specify amount & time frame]