How do you make your life better? get more control? protect your family? Create a personal financial plan. Start here! We all want to know how we are going, and what we can do do improve our money management and personal finance.
The main reason for planning is to get things done faster and to avoid problems. Examples of plans include things as simple as a shopping list to more complex plans like a building construction plan. Think of a Financial Plan as a faster way to your “financially better ” place.
This is an overview of 7 keystones of a personal financial plan.
1.Your spending /personal budget
2. Building a cash safety net / emergency funding / afe money management
3. Importance of Buying a home
4. Protecting your family and assets/ insurance plans
5. Putting plans in place to safeguard your family in case of (premature) death
6. Saving for retirement
7. Understanding how investment and risk go together.
So you can see how they all fit together.