Why you should keep a record of your finances

Posted 2022-10-05 13:29:40

22K

First of all, personal financial planning is the most important tool not only for the investor, but also for every person who wants to see a complete picture of his current financial situation and quickly achieve his goals.

With the help of personal financial planning, you can avoid difficult financial situations and "holes" in the budget, as well as minimize the stress associated with money issues.

In general, without personal financial planning, it is impossible to achieve an important goal for most people – gaining financial freedom. Financial freedom in its most popular definition is the availability of such capital that will provide passive income for the desired lifestyle.

Personal financial planning consists of several stages, each of which we will analyze in this course:

formulation of financial objectives;
accounting and analysis of current income and expenses;
budget planning;
control over the implementation of the budget and the achievement of financial goals.

Financial freedom is...

The availability of such capital that will provide passive income sufficient for the desired lifestyle!

Having studied all the stages of financial planning, you will be able to understand:

In what quantity and on what you spend your money.
For what purposes and to what extent it is necessary to postpone.
How much income is needed to achieve the goals.
How to plan future expenses and protect the budget from unplanned expenses.

Briefly about the main thing

Personal financial planning is a tool that provides a complete vision of current finances and the rapid achievement of goals.
Personal financial planning helps to avoid difficult financial situations and "holes" in the budget, as well as minimize the stress associated with financial issues.