Don’t Live Pay Cheque to Pay Cheque?

Don’t Live Pay Cheque to Pay Cheque?

Managing Financial Stress

Financial Planning is the process of establishing one’s financial goals and of developing a plan to accomplish them through the use of financial products, personal discipline and motivation. A financial plan addresses the following questions/issues:

  • What are your goals?
  • What are your available personal and financial resources?
  • How will you manage your income and expenditure?
  • How will you get from where you are to where you wish to be?
  • Implementation of a course of action.
  • Identifying and isolating risks.
  • Setting-up periods for monitor, review and update.

A Financial Plan is developed to achieve the goals and aspirations of the individuals for whom it is drawn. Also, it is designed in accordance to their psychological profile for ease of implementation. It is a personal plan. The more the person brings in to the planning process, the more rewarding the experience will be.

 

SELF-TEST

Here is a self-test that can be used to determine the person’s need for Personal Financial Planning.

 

Call us at Elder Associates Limited (622-6594) to get help in designing your Financial Plan.

Written by Lloyd Ince, Security Focus Limited for EAWP LINK