Financial planning is truly a process of understanding
yourself. It is about your wish, your hope, your dream and your willingness to
attain your goals.
To start planning your financial, first you must know where
you stand, what is your position and condition. This means we have to jot down
our assets, expenses, incomes etc. Those figures will tell us how healthy our
financial condition before we move to the next stages.
With fully awareness on our financial condition, we can list
down our dream, wish and hope that reflected in financial target. Here, we
speak not only numbers but also each other expectation (esp spouse) where
understanding of mutual benefit and nice-warm relationship are needed.
Agreed goals are translated into executable plans such as investing,
buying assets, starting a business and many other ways. Those action plans are
implemented and monitored. These reviews usually are conducted in yearly basis.
Once an
amount of money is sufficient for targeted goals, financial locking (parking)
is mandatory in order to avoid loss. If the plan is not meet the targeted
amount, there are some action plans that should be taken. Having a map of our
financial planning is could not be more important in this situation. Happy Planning everyone!
