Lecture Notes on Financial Planning

7006 Words29 Pages
CONTENT • Introduction • Budget o Business start-up budget o Corporate budget o Event management budget o Government budget  United States  United Kingdom o Personal or family budget o Budget types • Financial Planning an Overview o Planning o Service Overview o superannuation o Taxation Planning o Succession Planning o Estate planning financial planning industry o Fundamental Principles of Wealth and Resources • Basic Financial Concept • Personal Finance • Public Finance o The Economic Basis of Government Activity o Efficiency o Externalities and Government Activity o Public Goods o Public Choice and the Political Process o Government Expenditures o Income Distribution o Financing o Taxes o Debts • Corporate finance o Capital…show more content…
Essentially, it is the ultimate “purpose” of the money that determines where, how and why we invest it. First you have to create a list. Understanding how goals play into our financial life is only part of the equation though. The next step is to actually go through the process and begin to create a list of all the financial goals you have whether they are short term or long term. This should be one of the first steps in financial planning. However, most people tend to invest first and then later on decide what to do with the money and which money will be used to accomplish that objective. The wise investor will decide the purpose of his or her money first. What you need to do is take a moment and make a list of all your goals that have a financial commitment behind them. Think of the following: retirement, vacations, college education, a new car, etc. All of these goals require a certain amount of money and therefore they should be budgeted and planned for over a period of time rather than simply taking the money out of present income or investments. The first step toward goal planning is simply being aware of the many goals that you have. To do this look at each area of your life and determine what goals there are that require a financial commitment. Life areas would include: family, personal, professional, etc. If you look at each area separately you will probably
Open Document