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People have different styles when it comes to handling their money. List the two things that affect your personal beliefs and opinions about financial planning. How well do you feel you manage your money? Can you spot areas for improvement in your money management style, and if so, where/how? I think values and attitudes affect how anyone or person handles money I feel like I handle my money well I spend it on my child all the time so I think that is money well spent but at times I feel like I over spend on him I don’t really have any bills but I take care of me and my child.I could definetly spot areas for improvement in my money I feel like I could cut back a little and not spend so much all at
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The economy is unpredictable and can affect your personal financial planning. List one factor in economic conditions that may affect your financial future. How could you reduce the impact of that factor on your finances? One factor that would affect my financial future would have to be being without a job and this would reduce the impact on my finances because I would have to set up a budget to maintain the exspenses of the household such as paying bills on time, food, and clothing because I still have a baby in diapers so I would have to buy diapers and wipes and I have one on the way so I would really have to be on a strict budget if I were to loose my …show more content…
Step Five in the five-step financial planning process discusses the importance of regularly reevaluating and revising your plan because personal circumstances often change. List two life changes that may require you to update your financial plan. Have you recently experienced a change that requires you to reevaluate your financial plan? If so, what was it and how have you accommodated it? (Please share only what you are comfortable sharing) One life change that may require me to update my financial plan would have to be marriage and the second life change would have to be the birth of another child. Yes I have recently experienced a change that requires me to reevaluate my plan which is my pregnancy I am currently 5 months pregnant so my fianancial plan will change a lot and has.I have accommodated it by limiting my budget by setting aside funds for the things the baby will need such as the baby bed, car seat and so
The economy is unpredictable and can affect your personal financial planning. List one factor in economic conditions that may affect your financial future. How could you reduce the impact of that factor on your finances? One factor that would affect my financial future would have to be being without a job and this would reduce the impact on my finances because I would have to set up a budget to maintain the exspenses of the household such as paying bills on time, food, and clothing because I still have a baby in diapers so I would have to buy diapers and wipes and I have one on the way so I would really have to be on a strict budget if I were to loose my …show more content…
Step Five in the five-step financial planning process discusses the importance of regularly reevaluating and revising your plan because personal circumstances often change. List two life changes that may require you to update your financial plan. Have you recently experienced a change that requires you to reevaluate your financial plan? If so, what was it and how have you accommodated it? (Please share only what you are comfortable sharing) One life change that may require me to update my financial plan would have to be marriage and the second life change would have to be the birth of another child. Yes I have recently experienced a change that requires me to reevaluate my plan which is my pregnancy I am currently 5 months pregnant so my fianancial plan will change a lot and has.I have accommodated it by limiting my budget by setting aside funds for the things the baby will need such as the baby bed, car seat and so