Stages in the financial plan

April 21, 2009

yFinancial planning is a difficult things that everyone must solve this problem. Became someone that can manage the finance are not easy to do, but here there some stages that you should doing in planning your financial, such as :
1. Make the financial goals
2. Anayze your Finance Conditions
3. Make Finance Plan
4. Implementation your finance plan
5. Monitoring and Evaluated periodically
Here the explanation from the five stages.
1. Make the financial goals
Goals is the important poin we should make because this are first step taht we can plan what should we do for the next. The goal here such as Funds to finance the retirement lifestyle you want, Funds to pay for the education of children, Protection of families from financial risk., Inheritance for children, Tax savings, To buy assets such as houses, cars, electronics, and others, Plan year-end holidays. You also become a smart people means that you must spesific, measurable, achievable, realistic, time frame in reach your goals.
2. Anayze your Finance Conditions
Means that you should can analyze the situations and conditions around you with knowing your finance condition and don’t until your conditions here make you in disadvantages situations such as Risks lack of cash, Too much debt, Too extravagant or too stingy and Symptoms bankruptcy
3. Make Finance Plan

Financial plan is useful here so that you can manage your financial well spent way less than that received (aka expenditure must be less than income) and invest the difference and re-invest the interest-bearing for growth (compound interest). In addition you should also consider your future plans such as retirement plans, children’s education funds, debt interest rates, calculation of investment bonds, the value of savings in the future.

4. Implementation your finance plan

Mean that all plans have been prepared and tried to execute the plan is whether this can be carried out well or not. If not then you need to make new plan and you must sure that this new plan will make your future better than before.
5. Monitoring and Evaluated periodically

After you doing implement you plan you shoul monitoring the develop of your plan because if there any mistake or failed in your plan you can change it and evaluated why all this matter happens. And when you change it maybe there’s a hope that your plan become better.
That all the financial plan that maybe can ope your minds and you can follow this plan for make your future better than before. It better to start now than you start after some mistakes happens to you. Early Planning will change your future more better. So have a nice try.

Written by rizki· Filed Under finance , Tags:, ,  

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