why do you need financial plan
TRANSCRIPT
Why do you need a financial plan?
The changing socio-economic environment makes it mandatory
for everyone to have a sound financial plan.
A strong financial plan will make sure that you are financially prepared to deal with unexpected events and a stormy market.
I have told you already that you
should have a strong financial plan!
Regular financial planning can help give us peace of mind and protect us from unforeseen, unfavorable situations.
Budgeting
Cutting Expenses
Getting Out of Debt
Saving for Retirement
Insurance
Financial planning covers a wide variety of money topics including :
More details
Since time is limited, I just focus on the budget topic in this powerpoint!
Creating a budget may not sound like the most exciting thing in the world to do, but it is vital in keeping your financial house in order.
Before you begin to create your budget it is important to realize that in order to be successful you have to provide as much detailed information as possible.
The end result will be able to show where your money is coming from, how much is there and where it is all going.
More information, click here.
Saving for tomorrow, tomorrow
Interesting video related to
the topic
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No. Words Definitions
1 fi·nan·cial adj. relating to money or how money is managed
2 man·da·to·ry adj. describes something that must be done, or is demanded by law
3 in·sur·ance n. a contract where you pay a little money at a time so you can be compensated later, especially in the case of a disaster
4 un·ex·pect·ed adj. without warning or announcement
5 ex·pense n. something that makes you spend money
No. Words Definitions
6 re·tire·ment n. the period in someone's life after they have stopped working because they reached a particular age
7 de·tailed
adj. giving a lot of information with many details
8 pos·si·ble
adj. able to be done or achieved, or able to exist
9 sound adj. secure, restful and uninterrupted
10 un·fa·vor·a·ble
adj. negative and showing that you do not like something
adj. relating to money or how money is managedfinancial
If you are short on cash, you might say
you have a financial proplem.
adj. describes something that must be done, or is demanded by lawmandatory
A mandatory action is
something that is required,
obligatory, or compulsory. Like letting your Great Aunt Edna pinch
your cheeks.
n. a contract where you pay a little money at a time so you can be compensated later, especially in the case of a disaster
insurance
Many people consider insurance
to be making a kind of bet that bad things will
happen: that's a good bet to make, because nobody is
lucky forever.
adj. without warning or announcementunexpected
Well, a fancy love story! This
really is an unexpected
couple!
n. something that makes you spend moneyexpense
We went on holiday at my
father's expense.
It is me who paid
for it!
n. the period in someone's life after they have stopped working because they reached a particular age
retirement
No way, I'm still full of energy. I want to keep working. If I didn't love what I do, I'd stay busy doing something
else.
Have you ever considered
taking a retirement?
adj. giving a lot of information with many detailsdetailed
A witness gave a detailed description
of the man.
You can use possible to talk about anything that might happen. possible
If you work really hard for a
test, and you show you know the material, it’s
possible that you’ll get an A.
Sound can also mean "solid or good." Sound advice is good advice.sound
Sound investments are
secure.
adj. negative and showing that you do not like somethingunfavorable
He always talks about her in an unfavourable
way.
Explanations of the words : Longman dictionarywww.Vocabulary.comhttp://dictionary.cambridge.orgPronunciations:http://dictionary.cambridge.org/
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