Lo1-1: Analyze the process for making personal financial decisions. What is Personal Financial Planning?

Personal Financial Planning

1-

LO1-1:

Analyze the process for making personal financial decisions.

What is Personal Financial Planning? ….

The process of managing your money to achieve personal economic satisfaction.

Advantages of

1-

Personal Financial Planning

Increased effectiveness in obtaining, using, and protecting financial resources.

Increased control of one’s financial affairs by

avoiding excessive debt, bankruptcy, and

dependence on others. Improved personal relationships.

Enhanced freedom from financial worries obtained by looking to the future, anticipating expenses, and achieving personal economic goals.