Financial plan refers to the evaluation of the organization’s current and future financial state based on the current variables to predict the future asset values, cash flow, and withdrawal plans. In another term, financial planning is the strategy developed by the organization for budgeting or investing. Financial Planning Standards Board, provides six major areas of personal financial planning which includes:
Cash Flow Management: It refers to the evaluation of the person financial status. Its entire focus is to determine the monthly cash flow of the individual. It checks out whether the cash inflow is equal to the cash outflow. It also checks if there is instability in the expenditure and income of the person. It helps individual to note financial solvency and help them to manage their expenses and set financial goals.
Risk Management: It help to make the financial plan for the future unforeseen areas like disability, death, loss of property, health, etc. An expert financial planner can assist you to cover all potential areas of personal risk with an impeccable financial planning help.
Investment Planning: It refers to the personal financial planning for the accumulation of assets such as the purchase of the car, house, luxury items, etc. It also includes events like marriage, starting a family, etc.
Tax Planning: It refers to the plan that makes optimum utilization of the taxes policies and enjoy benefits from tax rebates and discounts under government tax policies.
Income tax: The tax payable person enjoys several benefits under the government policies (specific to every country).
Estate Planning: It refers to the planning of the persons’ asset when he dies.
Financial Planning Assignment Help provides an in-depth understanding to the students in all the six key areas of personal financial planning. Our online writers in USA have years of experience in doing homework and assignments. They are proficient in explaining and solving the same problem in a different ways.
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