Financial Planning

In Glogpedia

by 14rgiese
Last updated 6 years ago

Discipline:
Social Studies
Subject:
Economics
Grade:
11

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Financial Planning

Financial Planning

Budgeting

Financial planning is, orshould be part ofeveryones life. Planning includes SMART goals, which is an acronym forSpecificMeasurableAttainableRealisticTime bound.

Budgeting means to be smart about spending your money. When you budget your money, you end up saving, and therefore having more money to spend on important things.

Investing

Investing is a very importanttool to help plan for your future.If you invest early, you can makea lot of money, which can helpyour retirement funds. When youinvest, make sure you diversifyyour money to help prevent fromlosses.

Credit Cards

Credit cards can have quite a big toll on your life if you don't use them wisely. To use credit wisely you need to use it here and there to gain a good credit score. Pay off your debt right away, and pay more than the minimum payment.

Keeping your money safe

To keep your money safeyou need to go throughsome basic things that seem overly simple, butare a big deal. Protect yourPIN number, make sure yousign the checks you aredepositing as deposit only, and if fraud comes, report itright away.

Insurance

Insurance is all aboutsharing the risk of doingcertain things, and incasean accident happens insomething, you're protectedand can have financial helpwhen you don't have enoughmoney to pay for all of thecosts. Insure everything youhave, that is of major importance of course.

Careers

Your career is what decideswhat you will do for the rest of your life. You need to love what you're doing, and it needs to have the right benefits for you, and your family. You could also start your own business. When it comes to careers, just do what you love to do, and try to make a little money along the way.


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