Wednesday, April 13, 2011

Financial Planning

The key is: S.M.A.R.T.

S - Sepcific
M - Measurable
A - Achievable
R - Realistic
T - Time-bound

Mind-Body Financial Fitness
  • Take responsibility of your own future and develop discipline and commitment needed in making plans for every stage of life including retirement, long-term medical care and succession plan. SPECIFIC (What, Why and How).
  • "If you cant measure it, you cant manage it"
  • Plan in exact terms, how much money you want to have. Measurable
  • Be physically aware of your financial position at all times - check each component of your financial situation i,e loans, credit cards and monthly income and expenses. Knowing your financial landscape ensures and ACHIEVABLE financial goal is set.
Begin Financial Circuit Training
  • go to series of ecercises to ensure total financial fitness is achieve. Knowing your financial position in itself is insufficient. You need to know how to control your finance.
  • "make it, Keep it, Grow it", rather than "Make it and Spent it"
  • Minimise consumption and getting the most value of everything they purchase - control your expenses.
  • Be REALISTIC about financial goal.
Do it Now!
  • Financial goal must be TIME-BOUND.
  • Know exactly when you want to achive your goal.
  • Putting an end on your goal provides you  with clear target to work towards achieving.
  • Start taking action without any procrastination
  • Set a SMART financial goal today and begin your journey towards becoming financially fit.