Strategies For A Financial Goal Without Any Defined Action Plan

Daily economic activities have an important influence on personal financial planning. In our society, the forces of supply and demand play an important role in setting prices. Economics is the study of how wealth is created and distributed. By doing my research, I found that each economic situation would affect me at a personal level.

Her spending too much on entertainment and gifts, with clothes being a necessity, can be remedied by finding cheaper places to shop for clothing, eliminating entertainment until she saves enough to support her living expenses for at least 6 months, and by buying gifts ahead of time either off season, when they are on sale, or months prior to when they are needed. If available she can lay away items which will stretch payments overtime allowing for more disposable

her debt that he really need money to lend. Her dad mention about her mom hidden money. Her dad try

Accumulating assets is where Alice would like to begin next, in regards to assets it is typically ideal to meet with a financial advisor to sit with and go over things such as your annual income, is there capital that can be set aside for investments to grow her wealth? These questions can be resolved by a professional who 1. knows the market and 2. can go over with security and conviction. Financial planners can work with Alice to set up the right accounts for her future, example being her retirement.

A financial plan is the structure through which you can establish and integrate all goals and needs. (class notes) This is the best way to achieve financial objectives through personal financial planning and this will help define financial goals and develop appropriate strategies to reach them.

Financial goals are important to Ms. Tau as she continues to try and prepare for retirement, increase savings, and pay off debt. She also hopes to begin a college fund for her eldest granddaughter, who will be graduating in five years. Ms. Tau has maintained putting $97 a month into her employee retirement plan, which currently has accumulated $115,500. Additionally, $200 a month goes into her liquid savings. She is attempting to save $18,000, which amounts to a 6-month income safety net. Ms. Tau is working toward paying off her personal loan of $34,650 and

My suggestions to Shelby would be to pay down some of her credit card debt, start investing in her retirement or put back for an emergency. If she decided to split up her tax refund she could put 30% toward her credit cards, then cut them up, 40% toward a retirement fund, and then could put up the rest for an

she thinks that she has done everything perfect. She has saved about $10 000 to live off for the time being v

Jenny should distribute her money from most important to least important expense for example; she should always make sure to pay her rent and utilities first. She should learn to recognize what is a need from a want. A good strategy I have when managing my money is making a list of all my expenses. First I put my main expense up top with expiring dates. Then I put stuff I want, but don't really need in the bottom, and then I judge them. In how I want them and when is the right time to get them. Once I have my list ready I pay each bill as I get my paychecks. I don't hesitate to pay. I already know that it needs to be paid ,so I pay them as soon as I can that way I avoid paying late charges.

Ellen and adult kids should meet with a finical adviser to discuss her financial needs and goals.

Make sure she knows how much money she would actually get the next month. I would also include getting a loan which she could pay off monthly but at a reasonable amount. Her finances in general are crazy because she allowed her credit card to be used so much that she couldn’t pay for something when it became an

a woman with two kids, both in private schools, rent, a cell phone bill, vehicle finances, and other

If Jane had a surplus in the month of August, she should think of the future by comparing her income with other months and see if her surplus is normal or if she is missing something. Jane should look forward to future bills based on possible seasonal events such as once Christmas comes around or birthdays for family members. If she does have future needs for that cash, Jane will want to save that money in a security where the fund will not decline. If she determines that the surplus isn’t needed for any bills in the future, Jane could run take a risk and invest the surplus in a share to possibly maximize her return.

Investing money rather than saving it or possibly spending it on items that are only wants rather than needs is a smarter choice. It is a very uncommon occurrence that over an extended period of time investment values actually decrease instead of increasing. It is fairly simple to invest money. According to www.fidelity.com, the best way to save money for retirement is to invest in the stock market. Over time the gains and increased earnings on stock investments outweigh the losses that may occur with these stock investments. The key to these investments is to not panic when the stock market falls and keep your money working for you. Actually, if an

The objective of financial planning is to ensure that the financial goals are met through proper planning and management of finances. The process of creating a financial plan makes individuals take a complete look at their financial situation. The current and expected income and expenses and the ability to save and invest is seen in the light of the financial goals that they have.It forces them to see which goals are realistic and what may have to be postponed, modified for the value or given up.