Personal Financial plan

Personal Financial Plan

Have you been successful in setting up your plan?

Yes I have been successful in setting up my plan for future. This financial planning has been made on pragmatic approach keeping my current income and expenditure trends in mind and matching them with the future income and expenses which I will be expecting to earn. With the help of financial planning I have been able to analyze all my expenses clearly and chalk out any unnecessary expenses which are hindering my savings for future. Future is always uncertain and saving in advance helps in overcoming those uncertainties. With the help of this financial planning I have been able to conduct a full market research and was able to explain how the things are moving and their potential outlook. Financial crisis are bound to occur when financial market become hot. The effect of those crises makes an impact on the life of an individual. The value of the instruments also decline over the period of time, thus in order to mitigate the risks associated with the investments I have invested in variety of instruments so that just in case any of the instrument goes in to loss I should be having a back up in order to save some of my investment.

Has there been a change in your financial outlook for the future?

Yes there has been a change in the financial outlook for the future. My expenses have been reduced and I have been searching for the methods to improve the income which I will be earning in the future. I have broken down my expenditures on daily basis and I have been able to provide the justifications of all the expenses which I will be conducting in future. I was able to prioritize my expenses and revenues against my desire and needs for the future. The financial planning has been changed in a way that I have been using the products which are able to serve the purpose and fulfill my needs keeping aside the luxuries of life.

Have you found areas of your spending or saving which does not work for you or is not beneficial to your financial success?

Yes I have discovered those areas of funding which are not beneficial for me. I have reduced my fuel budget by moving towards alternative fuel which was of lower prices. I invested in mutual funds because they ...