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DISCIPLINE IS THE SECRET OF TRUE FINANCIAL FREEDOM


                                  FINANCE AND PLANNING
Finance is a field that deals with the study of investments. It includes the dynamics of assets and liabilities over time under conditions of different degrees of uncertainties and risks. Finance can also be defined as the science of money management.
Personal finance is the financial management which an individual or a family unit performs to budget, save, and spend monetary resources over time, taking into account various financial risks and future life events.
When planning personal finances, the individual would consider the suitability to his or her needs of a range of banking products (checkingsavings accountscredit cards and consumer loans) or investment private equity, (stock marketbondsmutual funds) and insurance (life insurancehealth insurancedisability insurance) products or participation and monitoring of and- or employer-sponsored retirement planssocial security benefits, and income tax management.
Personal financial planning process
The key component of personal finance is financial planning, which is a dynamic process that requires regular monitoring and re-evaluation.
1.   Assessment: A person's financial situation is assessed by compiling simplified versions of financial statements including balance sheets and income statements.
 A personal income statement lists personal income and expenses.
2.   Goal setting: Having multiple goals is common, including a mix of short- and long-term goals. Setting financial goals helps to direct financial planning. Goal setting is done with an objective to meet specific financial requirements.
3.   Plan creation: The financial plan details how to accomplish the goals. It could include, reducing unnecessary expenses, increasing the employment income, or investing in the stock market or better still try something new.
4.   Execution: Execution of a financial plan often requires discipline and perseverance.  It is the most difficult part of the steps. Many people obtain assistance from professionals such as accountantsfinancial plannersinvestment advisers, and lawyers.
5.   Monitoring and reassessment: As time passes, the financial plan is monitored for possible adjustments or reassessments. As it is said “nothing is permanent”
Personal circumstances differ considerably, with respect to patterns of income, wealth, and consumption needs. Tax and finance laws also differ from country to country, and market conditions vary geographically and over time. This means that advice appropriate for one person might not be appropriate for another. financial advisor can offer personalized advice in complicated situations.
Money making strategy of 21st century 
1. Know what you want.
2. enquire about it from others.
3. Follow your passion.
4. Refuse to be discourage.
5. succeed.






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