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“Most people don’t plan to fail. They simply fail to plan.”
National Endowment for Financial Education
What is Financial Planning?
- Financial planning is an ongoing, thinking process.
- A financial plan must be written down.
- A good financial plan distinguishes between needs and wants.
- A financial plan allows us to make conscious choices with our money.
- Financial planning is a process involving several steps: Reflect on your dreams, Set goals, Track expenses and income, Analyze information, Create a plan, Implement the plan, and Monitor and modify the plan.
- A financial plan should include goals for savings.
- A financial plan will help you to live within your means.
- A financial plan will help avoid overuse of credit.
“If you don’t know where you are going, any road will take you there.”
National Endowment for Financial Education
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