Personal Planning
TABLE OF CONTENT
1. Summary of ‘The Personal Financial Planning Process’
1. Introduction
2. Body
• The purposes
• The Benefits
3. Conclusion
• Recommendation
2. References
INTRODUCTION
Most people want to handle their finances so that they get full satisfaction from each available dollar. Typical financial goals include such things as a new car, a larger home, advanced career training, contributions to charity, extended travel, and self- sufficiency during working and retirement years. To achieve these and other goals, people need to identify and set priorities. Financial and personal satisfactions are the result of an organization process that is commonly referred to as personal money management or personal financial planning.
Personal financial planning is the process of managing your money to achieve personal economic satisfaction. This planning process allows you to control your financial situation. Every person, family, or household has a unique financial position, and any financial activity therefore must also be carefully planned to meet specific needs and goals. Most of these decisions are quite simple and have few consequences. Some are complex and have long-term effects on our personal and financial situations. While everyone make decisions, few people consider how to make better decisions. The financial planning process is a logical, six step procedure that can be adapted to any life situation.
BODY
Personal Financial Planning Process is important because it is the key to financial success. At the same time, it is a life-long process or also knows as life-cycle planning which can control one’s financial situation. In fact, a good financial planning can lead to enhancing the quality of life and increasing personal satisfaction by reducing
1. Summary of ‘The Personal Financial Planning Process’
1. Introduction
2. Body
• The purposes
• The Benefits
3. Conclusion
• Recommendation
2. References
INTRODUCTION
Most people want to handle their finances so that they get full satisfaction from each available dollar. Typical financial goals include such things as a new car, a larger home, advanced career training, contributions to charity, extended travel, and self- sufficiency during working and retirement years. To achieve these and other goals, people need to identify and set priorities. Financial and personal satisfactions are the result of an organization process that is commonly referred to as personal money management or personal financial planning.
Personal financial planning is the process of managing your money to achieve personal economic satisfaction. This planning process allows you to control your financial situation. Every person, family, or household has a unique financial position, and any financial activity therefore must also be carefully planned to meet specific needs and goals. Most of these decisions are quite simple and have few consequences. Some are complex and have long-term effects on our personal and financial situations. While everyone make decisions, few people consider how to make better decisions. The financial planning process is a logical, six step procedure that can be adapted to any life situation.
BODY
Personal Financial Planning Process is important because it is the key to financial success. At the same time, it is a life-long process or also knows as life-cycle planning which can control one’s financial situation. In fact, a good financial planning can lead to enhancing the quality of life and increasing personal satisfaction by reducing