Developing a Financial Plan

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Presentation transcript:

Developing a Financial Plan Personal Finance Developing a Financial Plan

Steps in Financial Plan Development Determine current financial position Develop financial goals Gather additional information Identify a course of action No need for students to take any notes on this slide.

Develop Financial Goals Financial Attitude Needs vs. Want Types of goals Guidelines Developing Financial Goals –

Influential Factors Opportunity cost Economic factors

Identify a Course of Action Costs vs. Benefits Goal achievement Review & revise