Should We Understand the Basic Principles of Financial Planning?

[Suba]

Financial planning can be imagined as a map that is a reference point where we can achieve a more established and stable financial goal. Then we apply it in various activities such as controlling expenses, saving and investing.
A mature financial plan will make it easier for us to make decisions, especially those related to money or cash flow,

Here are some basic principles of financial planning that every individual must understand:
First. Our income must be greater than our expenses
Second. Prioritize active income before passive income.
Third. Saving and investing
Fourth. The psychology of money.

 

[Augusta]

It is really needed to enable you forecast future cash flow needs, enabling businesses to secure additional funding or adjust their spending plans if necessary

 

[Kera]

Everyone should just have the basic knowledge of financial planning. It really helps to understand how to manage finances.

 

[magnus2022]

Financial planning can be imagined as a map that is a reference point where we can achieve a more established and stable financial goal. Then we apply it in various activities such as controlling expenses, saving and investing.
A mature financial plan will make it easier for us to make decisions, especially those related to money or cash flow,

Here are some basic principles of financial planning that every individual must understand:
First. Our income must be greater than our expenses
Second. Prioritize active income before passive income.
Third. Saving and investing
Fourth. The psychology of money.

I think you have to put this idea into a book because the ideas is real and can improve a lot of people's finamcial conditions. When the expenditure is higher than income, the possibility of breaking through financial challenges is very difficult or impossible.

 

[Springtime]

Having basic financial planning skills is important for both businesses and personal use. You need to know how to balance income and expenses, savings and investment.

 

[Augusta]

Planning and processing will help you Understand the principles of financial planning. You will know the holistic lifecycle of a client's financial need

 

[Starmix]

It's important to know the importance of money. Once you gain mastery of it you'll be surprised how your money works for you and not you to work hard for the money.

 

[Augusta]

You will know the holistic lifecycle of a client's financial needs – what they need to plan for when, and how to execute against a plan.