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Thread: How to create our own financial plan?

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    Bhavya's Avatar
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    How to create our own financial plan?

    Written Financial plans are organized strategies for maintaining financial health and financial goals. Maintaining a financial plan help us to control our financial situation.
    It can enhance our life quality by reducing the money-related problems and future needs. maintaining our own financial plan is a good practice.


    Can someone tell me what are the process to develop a personal financial plan?
    You're not going to master the rest of your life in one day. Don't stress. Master the day. Make this a daily reminder.

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    Quote Originally Posted by Bhavya View Post
    Written Financial plans are organized strategies for maintaining financial health and financial goals. Maintaining a financial plan help us to control our financial situation.
    It can enhance our life quality by reducing the money-related problems and future needs. maintaining our own financial plan is a good practice.


    Can someone tell me what are the process to develop a personal financial plan?
    Yes, if you're dealing with a company (public or private) then you should probably maintain financial statements such as balance sheet, cash flow statement, financial statement position and a budget, of course, these are the main statements that are followed by every company. A so-called must even!
    If it's for personal then you should probably maintain a trial balance which shows your Debit and Credit of the particular year you assume.
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    Quote Originally Posted by Moana View Post
    Yes, if you're dealing with a company (public or private) then you should probably maintain financial statements such as balance sheet, cash flow statement, financial statement position and a budget, of course, these are the main statements that are followed by every company. A so-called must even!
    If it's for personal then you should probably maintain a trial balance which shows your Debit and Credit of the particular year you assume.
    Thank you for this detail explanation. Can you give me a brief explanation of the trial balance?
    You're not going to master the rest of your life in one day. Don't stress. Master the day. Make this a daily reminder.

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