Summary of Personal Finance Basics
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Summary of Personal Finance Basics
Personal finance uses the process of personal financial planning to help you develop a spending plan around your lifestyle and financial goals. It helps you set realistic goals and budget to meet them while managing your savings and investments.
With this in mind, we’d like you to think about crafting a personal financial action plan, perhaps using the ideas explored earlier.
Practical Ideas I Can Start with Today
- List my financial goals, the date I want to accomplish each goal, and the dollar amount of each goal.
- Match each of my short, medium, and long-term financial goals with a specific portion of my savings or investments.
- Determine how much I should save to meet my goals.
- See how I can allocate my assets. Use this calculator.
What you have learned
- Setting Personal Financial Goals
- Setting Short-Term, Intermediate-Term, and Long-Term Financial Goals
- Keeping It Simple--Building a Financial Action Plan
- Savings and Investments in Personal Finance
- How Small Changes Can Add Up to Big Savings