Personal Financial Plan
Personal Financial Plan
FIS 210 Personal Finance
Axia College of the University of Phoenix
As I begin my personal financial plan, I will start with my goals for different points in my life. This will outline the overall plan for getting my finances in order. Even though I may not have enough time to complete my goals, completing my goals are important because of financial well-being and being able to retire comfortably.
I will start with my long-term goals for my future. One long-term goal is that I need to pay off high interest credit cards. The second long term-goal is that I need to pay off school loans that I and my son have acquired while going to college. An extremely important long-term goal is to pay off my home mortgage before I retire. By retirement we will possibly be in need of a new car to see us through retirement.
The next set of goals is my intermediate goals. First, I need to pay off my goal in the next couple of years. Paying off my car is high on my list as it will help to ensure of a few of my long-term goals. Another intermediate goal is to pay off my son’s braces before he graduates. There will be college bills after that.
Short-term goals are goals that I need to complete within the next year. First is paying off the small store circulated credit cards that I have acquired over the years. After that I need to purchase a new laptop to help with my schooling. I will also have to pay for my son’s senior pictures. Most important is at hand now, Christmas presents. I need to pay for the gifts that my family believes they are in need of.
My strategic plan begins with the creation of a family budget. I have built a budget that is already in place. I will also have to adjust the budget accordingly as circumstances could change. I will be looking for ways to cut costs in my household to be able to add more to my savings. This will be the foundation of my financial plan. If I cannot stay on budget then my plan will fail. My
FIS 210 Personal Finance
Axia College of the University of Phoenix
As I begin my personal financial plan, I will start with my goals for different points in my life. This will outline the overall plan for getting my finances in order. Even though I may not have enough time to complete my goals, completing my goals are important because of financial well-being and being able to retire comfortably.
I will start with my long-term goals for my future. One long-term goal is that I need to pay off high interest credit cards. The second long term-goal is that I need to pay off school loans that I and my son have acquired while going to college. An extremely important long-term goal is to pay off my home mortgage before I retire. By retirement we will possibly be in need of a new car to see us through retirement.
The next set of goals is my intermediate goals. First, I need to pay off my goal in the next couple of years. Paying off my car is high on my list as it will help to ensure of a few of my long-term goals. Another intermediate goal is to pay off my son’s braces before he graduates. There will be college bills after that.
Short-term goals are goals that I need to complete within the next year. First is paying off the small store circulated credit cards that I have acquired over the years. After that I need to purchase a new laptop to help with my schooling. I will also have to pay for my son’s senior pictures. Most important is at hand now, Christmas presents. I need to pay for the gifts that my family believes they are in need of.
My strategic plan begins with the creation of a family budget. I have built a budget that is already in place. I will also have to adjust the budget accordingly as circumstances could change. I will be looking for ways to cut costs in my household to be able to add more to my savings. This will be the foundation of my financial plan. If I cannot stay on budget then my plan will fail. My