2. Introduction
Definition of Financial Planning
"Financial planning is the process of setting, planning,
achieving, and reassessing your financial goals over time."
3. What is Financial Planning?
- Definition and Components: "Financial planning involves
budgeting, saving, investing, and managing risk."
- Financial Goals: Short-term and Long-term: "Short-term goals
could include saving for a vacation, while long-term goals
may involve retirement planning."
- Importance of Setting Financial Goals: "Goals provide direction
and motivation, helping to prioritize financial decisions."
4. Benefits of Personal Financing
● Financial Security
● Wealth Accumulation
● Improved Standard of Living
● Peace of Mind
5. Steps in Financial Planning
• Assessing Current Financial Situation
• Setting Financial Goals
• Creating a Budget
• Saving and Investing
6. • Income and Expenses.
• Assets and Liabilities
• Net Worth Calculation
Assessing Financial Situations
7. Setting Financial Goals
• Short-term vs. Long-term Goals
• Examples of Financial Goals
• TIP: SMART Criteria for Goal Setting
8. • Importance of Budgeting
• Income Categories
• Expense Categories
• Tracking and Managing Expenses
Create a Budget
9. Saving and Investing
Importance of Saving
Types of Investments
Risk and Return
Diversification
10. Conclusion
● Recall all the points discussed
● Start your Financial Planning
● Additional Resources and Next Steps