Can I make a personal finance plan myself?
Some personal finance packages,
magazines and self-help books can help you with your own financial planning.
However, you may decide to seek the assistance of a personal financial
consultant - expert if:
- you need the expertise that you do not have in
certain areas of your finances. For example, a personal financial consultant
can help you to assess the level of risk in the investment portfolio and review
the allocation of funds;
- you do not have enough time to edit your own
financial plan yourself;
- you know that you need to improve your current
financial position, but you do not know where to start;
- you believe that a personal financial consultant
- expert could improve your plan and strategy for the current management of
- an immediate or unexpected life event occurs,
such as inheritance or major illness;
- you want to get an expert opinion on a financial
plan that you have developed yourself.
What is financial planning?
Financial planning is the process
of ensuring your life goals through the proper management of your finances.
Financial planning helps you to anticipate all financial needs that will emerge
in the future. The objective of financial planning is to provide sufficient
amounts of money in the right hands and at the right moment in the future in
order to ensure that individual goals are achieved.
How can I plan for the future if I do not have enough resources today?
Create a budget. Find out how
much you actually spend each month. There are fixed costs, such as rent, loan
repayments, etc., which are present every month and we can not change anything
in this regard. Variable items, such as food, clothing and entertainment, are
often those we do not think of. The solution is to create a balance sheet and
control the inflows and outflows of your assets.
Why should I disclose so many personal information?
Think about visiting a doctor?
Without complete and completely accurate information, your doctor can not
prescribe the best treatment. The same applies to financial planning. To get
the best solution for your "financial health" you need to disclose
all the details.