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Personal Financial Plan in Creating Term Paper
Pages:1 (308 words)
Sources:1
Subject:Finance
Topic:Personal Finance
Document Type:Term Paper
Document:#30672189
Check also if they have the lowest possible interest rates on loans, mortgage or credit cards. A married individual should also determine their future financial goal which is time bound and measurable: when to pay debt; establish educational funds for the children; or payoff the mortgage. Then, the individual should design a plan to reach his established goals and take that plan into action. Keep tract of income and debts, make sure to be in the budget or have enough emergency fund for uncontrolled events. Lastly, monitor the set plan. Keep tract of the progress in reaching the financial goals monthly or quarterly, update the net worth statement at the same time and be ready to make adjustments if the individual deviates from the plan.
Bibliography
http://financialplan.about.com/od/personalfinancebasics/ss/FinancialPlan_5.htm
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