--- title: Plansmith Blog | what-ifs description: what-ifs | --- [CALL TOLL-FREE 1-800-323-3281](https://www.plansmith.reachproductions.net/project/call-toll-free-1-800-323-3281/) [![Plansmith](https://blog.plansmith.com/hs-fs/hubfs/Plansmith-Logo.png?width=764&height=135&name=Plansmith-Logo.png "Plansmith")](https://www4.plansmith.com) - Solutions - [Budgeting](https://www4.plansmith.com/budgeting/) - [ALM](https://www4.plansmith.com/alm) - [ALM Advisory Services](https://www4.plansmith.com/alm/advisory-services/) - [CECL](https://www4.plansmith.com/cecl/) - [Strategy](https://www4.plansmith.com/strategy/) - [Market Intelligence](https://www4.plansmith.com/market-intelligence/) - Products - [StrategyGPS](https://www4.plansmith.com/strategygps/) - [Compass](https://www4.plansmith.com/compass/) - [BankersGPS](https://www4.plansmith.com/bankersgps/) - Resources - [Blog](https://blog.plansmith.com/) - [Videos](https://plansmith.wistia.com/projects/7qemazkqii) - [Compass Tutorials](https://info.plansmith.com/compass-tutorials) - [Lunch N’ Learn](https://info.plansmith.com/lunch-n-learns) - [Webinars](https://www4.plansmith.com/webinars/) - [About](https://www4.plansmith.com/about/) - [Schedule A Discovery Call](https://www4.plansmith.com/contact-us/) - [CALL TOLL-FREE 1-800-323-3281](tel:8003233281) # Plansmith Blog ## [Why Every Financial Institution Should Budget for Multiple Scenarios](https://blog.plansmith.com/why-every-financial-institution-should-budget-for-multiple-scenarios) Posted by [Jim Groark](https://blog.plansmith.com/author/jim-groark) on 9/1/26, 7:08 AM - [Tweet](https://twitter.com/share) [![](https://blog.plansmith.com/hubfs/Evaluate%20outcomes.png)](https://blog.plansmith.com/why-every-financial-institution-should-budget-for-multiple-scenarios) Annual budgeting has always required financial institutions to make educated assumptions about the future. Loan growth, deposit trends, funding costs, operating expenses, and other variables all shape the strategic decisions that guide an institution through the coming year. What’s changed in recent years is the level of uncertainty surrounding those assumptions. Shifts in customer behavior, margin pressure, changing economic conditions, and evolving growth expectations have reinforced an important reality: a budget built around a single set of assumptions may not provide management with the flexibility it needs when conditions change. [Read More](https://blog.plansmith.com/why-every-financial-institution-should-budget-for-multiple-scenarios) ## [Blueprint for Success: The Plansmith Planning Cycle](https://blog.plansmith.com/blueprint-for-success-the-plansmith-planning-cycle) Posted by [Sue West](https://blog.plansmith.com/author/sue-west) on 8/3/26, 7:23 AM - [Tweet](https://twitter.com/share) [![](https://blog.plansmith.com/hubfs/Planning-Cycle.png)](https://blog.plansmith.com/blueprint-for-success-the-plansmith-planning-cycle) After 40 years in this industry, I’ve seen the same pattern in too many boardrooms: planning treated as a static "check-the-box" exercise. In today’s volatile market, that is a liability. Having worked with thousands of financial institutions, I’ve seen the full spectrum of planning processes. My own journey — from running our support department for years to serving as a hands-on budget and ALM model operator for our clients — has given me a front-row seat to the challenges you face. I’ve helped institutions prepare for everything from intense regulatory exams to high-stakes board presentations. Needless to say, I have seen exactly what works and what doesn't when it comes to effective planning. [Read More](https://blog.plansmith.com/blueprint-for-success-the-plansmith-planning-cycle) ## [5 Myths about Financial Institution Planning (And What to Do Instead)](https://blog.plansmith.com/5-myths-about-financial-institution-planning-and-what-to-do-instead) Posted by [Megan Plis Mitchem](https://blog.plansmith.com/author/megan-plis-mitchem) on 6/1/26, 7:30 AM - [Tweet](https://twitter.com/share) [![](https://blog.plansmith.com/hubfs/5%20Myths%20of%20Planning.png)](https://blog.plansmith.com/5-myths-about-financial-institution-planning-and-what-to-do-instead) If we’re being honest, the annual planning season is rarely met with a standing ovation. For many financial institution leaders, it feels like a chore – a box to check for the regulators or a heavy document destined to collect dust on a shelf. The problem is that many management teams are still operating under the *old rules* of planning. These misconceptions keep brilliant leaders buried in "spreadsheet land," where they spend their time managing data instead of managing the organization. If you want to move from a static plan to a dynamic strategy, it is time to debunk these five common myths. [Read More](https://blog.plansmith.com/5-myths-about-financial-institution-planning-and-what-to-do-instead) ## [Planning: Many Aspects, One Purpose](https://blog.plansmith.com/many-aspects-one-purpose) Posted by [Sue West](https://blog.plansmith.com/author/sue-west) on 7/17/23, 11:01 AM - [Tweet](https://twitter.com/share) [![reforecasting](https://blog.plansmith.com/hubfs/16.png)](https://blog.plansmith.com/many-aspects-one-purpose) I’m often asked, “What are the differences between a plan, a budget, forecasting, reforecasting, what-ifs, and stress testing?” Although some of the actions are similar and often intermingled in conversation, it’s their purpose that defines them. If you’re a client, most even involve similar keystrokes using your Plansmith software navigation; yet each plays a unique role within your organization’s total planning process. Let’s discuss. **Budget** To start, everyone’s familiar with a budget, but let’s make sure we see it for what it really is. A budget is a prediction or forecast of a financial position at a set time in the future, typically one year. A budget represents a desired financial outcome and requires consent by your board of directors. Most often a Budget is primarily thought of as cost allocations, but when combined with ideas regarding new business, you will often hear it referred to as a Plan. Once approved, the Budget Plan never changes. It is ‘set in stone’ for the duration of your selected time period. [Read More](https://blog.plansmith.com/many-aspects-one-purpose) ## [Planning: Many Aspects, One Purpose](https://blog.plansmith.com/planning-many-aspects) Posted by [Sue West](https://blog.plansmith.com/author/sue-west) on 7/12/22, 2:41 PM - [Tweet](https://twitter.com/share) [![reforecasting](https://blog.plansmith.com/hubfs/16.png)](https://blog.plansmith.com/planning-many-aspects) I’m often asked, “What are the differences between a plan, a budget, forecasting, reforecasting, what-ifs, and stress testing?” Although some of the actions are similar and often intermingled in conversation, it’s their purpose that defines them. If you’re a client, most even involve similar keystrokes using your Plansmith software navigation; yet each plays a unique role within your organization’s total planning process. Let’s discuss. **Budget** To start, everyone’s familiar with a budget, but let’s make sure we see it for what it really is. A budget is a prediction or forecast of a financial position at a set time in the future, typically one year. A budget represents a desired financial outcome and requires consent by your board of directors. Most often a Budget is primarily thought of as cost allocations, but when combined with ideas regarding new business, you will often hear it referred to as a Plan. Once approved, the Budget Plan never changes. It is ‘set in stone’ for the duration of your selected time period. [Read More](https://blog.plansmith.com/planning-many-aspects) [All posts](https://blog.plansmith.com/all) ### Subscribe Now! ### Posts by Tag - [community bank planning (54)](https://blog.plansmith.com/topic/community-bank-planning) - [community bank strategy (52)](https://blog.plansmith.com/topic/community-bank-strategy) - [community bank (49)](https://blog.plansmith.com/topic/community-bank) - [credit union planning (46)](https://blog.plansmith.com/topic/credit-union-planning) - [community bank budget software (45)](https://blog.plansmith.com/topic/community-bank-budget-software) - [community bank budgeting (42)](https://blog.plansmith.com/topic/community-bank-budgeting) - [budgeting (41)](https://blog.plansmith.com/topic/budgeting) - [interest rate risk (35)](https://blog.plansmith.com/topic/interest-rate-risk) - [community bank interest rate risk (33)](https://blog.plansmith.com/topic/community-bank-interest-rate-risk) - [community bank budget (30)](https://blog.plansmith.com/topic/community-bank-budget) - [asset liability management (29)](https://blog.plansmith.com/topic/asset-liability-management) - [strategic planning (28)](https://blog.plansmith.com/topic/strategic-planning) - [interest rate risk management (27)](https://blog.plansmith.com/topic/interest-rate-risk-management) - [community bank marketing strategy (26)](https://blog.plansmith.com/topic/community-bank-marketing-strategy) - [fintech (26)](https://blog.plansmith.com/topic/fintech) - [community bank ALCO (25)](https://blog.plansmith.com/topic/community-bank-alco) - [social media for community banks (24)](https://blog.plansmith.com/topic/social-media-for-community-banks) - [strategy (24)](https://blog.plansmith.com/topic/strategy) - [IRR (22)](https://blog.plansmith.com/topic/irr) - [strategic thinking (22)](https://blog.plansmith.com/topic/strategic-thinking) - [bank strategy (21)](https://blog.plansmith.com/topic/bank-strategy) - [social media (20)](https://blog.plansmith.com/topic/social-media) - [ALCO (19)](https://blog.plansmith.com/topic/alco) - [community bank forecasting (19)](https://blog.plansmith.com/topic/community-bank-forecasting) - [strategic planning for banks (17)](https://blog.plansmith.com/topic/strategic-planning-for-banks) - [ceo (16)](https://blog.plansmith.com/topic/ceo) - [leadership (14)](https://blog.plansmith.com/topic/leadership) - [Strategic Plan (12)](https://blog.plansmith.com/topic/strategic-plan) - [bank strategic planning software (12)](https://blog.plansmith.com/topic/bank-strategic-planning-software) - [community bank planning software (12)](https://blog.plansmith.com/topic/community-bank-planning-software) - [CECL (11)](https://blog.plansmith.com/topic/cecl) - [Customer Service (9)](https://blog.plansmith.com/topic/customer-service) - [playbook (9)](https://blog.plansmith.com/topic/playbook) - [alm (8)](https://blog.plansmith.com/topic/alm) - [bank budget (8)](https://blog.plansmith.com/topic/bank-budget) - [bank irr reporting (8)](https://blog.plansmith.com/topic/bank-irr-reporting) - [liquidity (8)](https://blog.plansmith.com/topic/liquidity) - [credit union interest rate risk (7)](https://blog.plansmith.com/topic/credit-union-interest-rate-risk) - [crisis planning (7)](https://blog.plansmith.com/topic/crisis-planning) - [forecasting (7)](https://blog.plansmith.com/topic/forecasting) - [budget playbook (6)](https://blog.plansmith.com/topic/budget-playbook) - [compass (6)](https://blog.plansmith.com/topic/compass) - [reforecasting (6)](https://blog.plansmith.com/topic/reforecasting) - [Outsource IRR (5)](https://blog.plansmith.com/topic/outsource-irr) - [banker education (5)](https://blog.plansmith.com/topic/banker-education) - [surge deposits (5)](https://blog.plansmith.com/topic/surge-deposits) - [what-ifs (5)](https://blog.plansmith.com/topic/what-ifs) - [bank mission vision core values (4)](https://blog.plansmith.com/topic/bank-mission-vision-core-values) - [continuing education (4)](https://blog.plansmith.com/topic/continuing-education) - [credit union budgeting (4)](https://blog.plansmith.com/topic/credit-union-budgeting) - [millennials (4)](https://blog.plansmith.com/topic/millennials) - [IRR Assumptions (3)](https://blog.plansmith.com/topic/irr-assumptions) - [board training (3)](https://blog.plansmith.com/topic/board-training) - [branch budgeting (3)](https://blog.plansmith.com/topic/branch-budgeting) - [decay rate (3)](https://blog.plansmith.com/topic/decay-rate) - [millennial employees in banking (3)](https://blog.plansmith.com/topic/millennial-employees-in-banking) - [rising rates (3)](https://blog.plansmith.com/topic/rising-rates) - [AI (2)](https://blog.plansmith.com/topic/ai) - [FDIC (2)](https://blog.plansmith.com/topic/fdic) - [backtesting (2)](https://blog.plansmith.com/topic/backtesting) - [bank brand marketing (2)](https://blog.plansmith.com/topic/bank-brand-marketing) - [board of directors (2)](https://blog.plansmith.com/topic/board-of-directors) - [compliance (2)](https://blog.plansmith.com/topic/compliance) - [cost center budgeting (2)](https://blog.plansmith.com/topic/cost-center-budgeting) - [deposit study (2)](https://blog.plansmith.com/topic/deposit-study) - [deposit trends (2)](https://blog.plansmith.com/topic/deposit-trends) - [funds transfer pricing (2)](https://blog.plansmith.com/topic/funds-transfer-pricing) - [market intelligence (2)](https://blog.plansmith.com/topic/market-intelligence) - [millennials in banking (2)](https://blog.plansmith.com/topic/millennials-in-banking) - [modern human resources strategy for banks (2)](https://blog.plansmith.com/topic/modern-human-resources-strategy-for-banks) - [peer analysis (2)](https://blog.plansmith.com/topic/peer-analysis) - [stress testing (2)](https://blog.plansmith.com/topic/stress-testing) - [Insider (1)](https://blog.plansmith.com/topic/insider) - [asset prepayments (1)](https://blog.plansmith.com/topic/asset-prepayments) - [baby boomers (1)](https://blog.plansmith.com/topic/baby-boomers) - [brand (1)](https://blog.plansmith.com/topic/brand) - [client spotlight (1)](https://blog.plansmith.com/topic/client-spotlight) - [contingency funding plan (1)](https://blog.plansmith.com/topic/contingency-funding-plan) - [credit union strategic planning software (1)](https://blog.plansmith.com/topic/credit-union-strategic-planning-software) - [employee human resources for banks (1)](https://blog.plansmith.com/topic/employee-human-resources-for-banks) - [event (1)](https://blog.plansmith.com/topic/event) - [financial institution succession planning (1)](https://blog.plansmith.com/topic/financial-institution-succession-planning) - [funding (1)](https://blog.plansmith.com/topic/funding) - [loan prepayments (1)](https://blog.plansmith.com/topic/loan-prepayments) - [market analysis (1)](https://blog.plansmith.com/topic/market-analysis) - [negative rates (1)](https://blog.plansmith.com/topic/negative-rates) - [policy (1)](https://blog.plansmith.com/topic/policy) - [ppp loans (1)](https://blog.plansmith.com/topic/ppp-loans) - [profitability (1)](https://blog.plansmith.com/topic/profitability) - [sensitivity testing (1)](https://blog.plansmith.com/topic/sensitivity-testing) - [social video for banks (1)](https://blog.plansmith.com/topic/social-video-for-banks) - [strategic action plan (1)](https://blog.plansmith.com/topic/strategic-action-plan) - [trade show (1)](https://blog.plansmith.com/topic/trade-show) See all ### Recent Posts - Navigate - [Home](https://www4.plansmith.com/) - [Budgeting](https://www4.plansmith.com/budgeting/) - [Asset Liability Management](https://www4.plansmith.com/alm/) - [CECL](https://www4.plansmith.com/cecl/) - [Strategy](https://www4.plansmith.com/strategy/) - [Market Intelligence](https://www4.plansmith.com/market-intelligence/) - [About](https://www4.plansmith.com/about/) - [Contact Us](https://www4.plansmith.com/contact-us/) - Products - [StrategyGPS](https://www4.plansmith.com/strategygps/) - [Compass](https://www4.plansmith.com/compass/) - [BankersGPS](https://www4.plansmith.com/bankersgps/) - Resources - [Blog](https://blog.plansmith.com) - [Videos](https://plansmith.wistia.com/projects/7qemazkqii) - [Compass Tutorials](https://info.plansmith.com/compass-tutorials) - [Lunch n' Learns](https://info.plansmith.com/lunch-n-learns) - [Webinars](https://www4.plansmith.com/webinars/) #### Contact 1827 Walden Office Square, Ste. 350 Schaumburg IL 60173 Toll Free: 1.800.323.3281 Local: 1.847.359.4045 Fax: 1.847.705.8200 info@plansmith.com Copyright 2018 | Plansmith Corporation