Financial Planning
Module Units
- 1. Introduction
- 2. Financial Position
- 3. Emergency Funds
- 4. Financial Habits
- 5. Budgeting
- 6. Financial Goals
- 7. Basic Things To Know While Making A Financial Plan
- 8. Concepts For Successful Financial Planning
- 9. Risk Appetite And Risk Tolerance
- 10. Risk Profiling
- 11. Things You Should Keep In Mind While Investing
- 12. Time Value Of Money
- 13. Power of Compounding
- 14. Inflation Affecting Investment
- 15. How To Plan For The Different Stages Of Life?
- 16. Stage 1: Our First Job
- 17. Stage 2: Marriage And Settling Down
- 18. Stage 3: Financial Freedom
- 19. Loans
- 20. Different Types Of Interest Rates
- 21. EMI
- 22. Plan Your EMIs
- 23. Rising Interest Rates - What Should You Do?
- 24. Is It Always Beneficial To Prepay Your Loan?
- 25. Debt Management
- 26. Loan Restructuring
- 27. Planning For Our Children’s Future
- 28. Effective Strategies To Build An Education Corpus
- 29. Making Your Investments
- 30. Retirement Planning
- 31. Major Expenses Of A Retired Person
- 32. Investor Traits Affecting Retirement Planning
- 33. Myths Associated With Retirement Planning
- 34. The Golden Rules Of Retirement
- 35. Conclusion
Basic Things To Know While Making A Financial Plan
As seen throughout the earlier units, the following things should be known and evaluated to make an efficient financial plan-
- Proper budgeting techniques
- Setting proper financial goals
- Proximity and priority of the goals
- Quantitative values of the goals
Let us understand how all these things come together to give us a foundation of our financial plan through an example.
Suppose, Mr. Amit decides to begin financial planning. He follows the guidelines given previously in this chapter, and understands his goals by tabulating them like this. Now he will start investing towards these goals based on the priorities he has evaluated and understood.
Tabulating your goals like this will help you stay clear on what you have to keep in mind while making your financial plan.
About the Author
Copy the URL
Leaderboard
# | Name | Score |
---|