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Financial Planning And Investment Planning

June 12, 2018 2 Comments

Financial Planning is the process of meeting one’s life goals through the proper management of personal finances.

Sound financial planning involves 6 steps :

1.Establishing short, medium and long term life goals.

2.Tabulating assets and liabilities.

3. An evaluation of the current financial position to assess the distance to goal achievement.

4.Developing a plan that shows the way for achieving different goals

5.Implementing this financial plan

6.Monitoring and reviewing this financial plan at least yearly and making adjustments when needed. Read more of this post

Filed under Theory, Tool Kit Tagged with asset allocation, capital protection, Central Government Health Scheme, Contingency Fund, diversification of investments, estate planning, financial goals, financial planning, financial planning industry, insurance planning, investment planning, postaday, risk profile

Dealing with Savers and Spenders

April 12, 2011 5 Comments

I found the following post here: http://www.misformoney.net/2009/04/opposites-attract-when-saver-marries.html . I found the advice pretty sage.It’s basically for couples to help them deal with different money habits but I don’t see why the tips can’t be used with the friends,colleagues and business associates we need to work with.

Opposites Attract – When a Saver Marries a Spender

Let’s be honest, it is common for couples to fight about money. It is also common to have two financial opposites in the relationship. This pairing provides special challenges, but there are many couples who make it work. It all starts with awareness, first about yourself and second about your partner. Read more of this post

Filed under Theory, Tool Kit Tagged with Budget, compulsive spender, fight about money, financial goals, money habits, saver, spender

5 Habits of Financially Successful People

March 9, 2011 1 Comment

Here is a piece I found while surfing at Wise Bread.com wealthymatters.com http://www.moneymanagement.org/Community/Blogs/Blogging-for-Change/2011/January/Five-habits-of-financially-successful-people.aspx Check if you have the following criteria in place if you are serious about being financially successful.

What is the true definition of financial success? Although it varies from person to person it can usually include: the ability to pay bills without worry, being free of debt, and having enough money in savings for things such as emergencies, family vacations, retirement, college funds, and more.

Being financially successful is easier said than done. There are no quick fixes or magic formulas for achieving financial success. Financially successful people understand the difference between wants and needs and how to create clear financial objectives for achieving their goals. Below are five habits of financially successful people. Read more of this post