Chapter 6
Making a financial plan
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Before making a financial plan we need to set up a realistic goal which includes our financial goal and setting a risk with which we are comfortable with
Before making a financial plan we need to set up a realistic goal which includes our financial goal and setting a risk with which we are comfortable with
A) Setting a goal
A) Setting a goal
1) Financial goals- funds for marriage, child education, higher studies, medical accidents, vacation, buying a home, buying a car, etc
2) Assessing our risk capacity psychologically and realistically- investment should make our night peaceful not sleepless
3) Creating a balance sheet- savings, sources of earning, taxes, expenses, assets, liabilities, etc.
1) Financial goals- funds for marriage, child education, higher studies, medical accidents, vacation, buying a home, buying a car, etc
2) Assessing our risk capacity psychologically and realistically- investment should make our night peaceful not sleepless
3) Creating a balance sheet- savings, sources of earning, taxes, expenses, assets, liabilities, etc.
B) Making a financial plan
B) Making a financial plan
1)
1)
Remember that a financial plan is a dynamic document that should evolve with your life. Regularly monitoring and adjusting your plan
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