Personal Financial Planning

The ability to easily convert financial assets into cash

• Solvency

• Liquidity

• Accessibility

• None of the above

Financial Success is primarily the result of setting long term goals and developing a plan to achieve them

• True

• False

What is the first step in building a financial portfolio for yoourself

• Estimate your income and expenses

• Determine your current financial situation

• Decide what you want your job to be in the future

• create a financial excel sheet

The process of managing your money to achieve personal economic satisfaction. arranging to spend, save, and invest money to live comfortably, have financial security, and achieve goals

A formalized report that summarizes your current financial situation, analyzes your financial needs, and recommends future financial activities

• Balance Sheet

• Cash Flow Statement

• Budget

• Financial plan

A rise in the general level of prices

Types of financial goals

• short-term goals: within next year

• Intermediate goals: two to seven years

• Long-term goals: more than seven years

• None of the above

Acronym of SMART Goals

the things you want to accomplish.

• Mission

• Goals

• Target

• Strategy

The original amount of money on deposit.

• Principal

• Premium

• Capital

• Returns