Question and answer
1. How can using personal financial planning tools help you improve your financial situation? Describe changes you can make in at least three areas.
We all make hundreds of decisions each day. Most of these decisions are quite simple and have few consequences. Some are complex and have long-term effects on our personal and financial situations. [ The financial planning process is a logical, six-step procedure: (1) determining your current financial situation (2) developing financial goals (3) identifying alternative courses of action (4)
evaluating alternatives (5) creating and implementing a financial action plan, and (6) reevaluating and revising the plan. Step 1: Determine Your Current Financial Situation In this first step of the financial planning process, you will determine your current financial situation with regard to income, savings, living expenses, and debts. Preparing a list of current asset and debt balances and amounts spent for various items gives you a foundation for financial planning activities. Step 2: Develop Financial Goals You should periodically analyze your financial values and goals. This involves identifying how you feel about money and why you feel that way. The purpose of this analysis is to differentiate your needs from your wants. Specific financial goals are vital to financial planning. Others can suggest financial goals for you; however, you must decide which goals to pursue. Your financial goals can range from spending all of your current income to developing an extensive savings and investment program for your future financial security. Read more at ]
Expert answered|Maribeth|Points 110|
Question
Asked 8/9/2013 7:09:36 AM
0 Answers/Comments
Get an answer
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
Questions asked by the same visitor
Discuss the reasons for the changes in your goals and how you’ll need to adapt your financial plans as a result.
Weegy: Once your business is established and running well, you may be inclined to let things continue to run as they are. However, it's actually time to plan again. [ After the crucial early stages, you should regularly review your progress, identify how you can make the most of the market position you've established and decide where to take your business next. You will need to revisit and update your business plan with your new strategy in mind and make sure you introduce the developments you've noted. This guide takes you through this essential process, detailing the stages you should go through to assess how well your business is performing, highlighting your strengths and areas that could be improved and suggesting the actions you need to take to implement the improvements that you've identified. ] (More)
Question
Expert Answered
Asked 8/9/2013 7:55:01 AM
0 Answers/Comments
18,799,819 questions answered
Popular Conversations
definition of absurdity
12/20/2014 12:13:09 AM| 1 Answers
If your supervisor criticizes the way you handled a certain ...
Weegy: A. clarify how your way of handling it was best. User: You can perform your job well only if you A. ...
12/20/2014 12:00:56 AM| 1 Answers
Personal pronouns take different forms depending on whether they’re ...
Weegy: When we want to show that something belongs to somebody or something, we usually add 's to a singular noun and ...
12/20/2014 12:24:16 AM| 1 Answers
Subjects in sentences refer either to nouns or to A. adverbs. ...
Weegy: An adjective can come before or after a noun or pronoun in a sentence.
12/20/2014 12:23:55 AM| 1 Answers
Weegy Stuff
S
L
P
Points 1135 [Total 4979]| Ratings 0| Comments 1135| Invitations 0|Offline
S
L
Points 741 [Total 1432]| Ratings 1| Comments 731| Invitations 0|Offline
S
1
L
1
L
P
P
L
P
Points 691 [Total 14876]| Ratings 1| Comments 681| Invitations 0|Offline
S
Points 681 [Total 681]| Ratings 1| Comments 671| Invitations 0|Offline
S
P
C
L
P
L
1
Points 118 [Total 6437]| Ratings 1| Comments 108| Invitations 0|Offline
S
L
Points 80 [Total 1540]| Ratings 1| Comments 70| Invitations 0|Online
S
1
L
L
Points 33 [Total 6700]| Ratings 0| Comments 33| Invitations 0|Offline
S
Points 30 [Total 30]| Ratings 0| Comments 0| Invitations 3|Offline
S
Points 23 [Total 29]| Ratings 0| Comments 23| Invitations 0|Offline
S
Points 22 [Total 22]| Ratings 0| Comments 2| Invitations 2|Offline
Home | Contact | Blog | About | Terms | Privacy | Social | ©2014 Purple Inc.