What is Financial Planning?
Financial planning is the process of meeting your life goals through the proper management of your finances. With every one of the countless steps that make up a life, there are choices. Choices that often lead to new goals. Buying a home, saving for a child’s education or planning for retirement, are all good examples. The step-by-step Financial Planning Process helps you to reach your goals by gaining perspective on where you are now and defining where you may want or need to be in the future. It provides direction and meaning to all your financial decisions, defining each in context with the other, how they are all part of a whole. In this way, financial planning should help you adapt more easily to life changes and keep you on track. Once the process is understood, it is a simple matter to see how just about anyone can benefit from some level of financial planning.
Financial planning is a process which helps you prepare your resources to meet your financial expectations. Through this self-help service, you can organize and structure different strategies to achieve your short- and long-term personal and financial goals. You may also share your data with a qualified MEMBERS Financial Services representative for more personalized assistance.
Financial planning was designed to teach students how to create a financially independent life teaching them skills such as budgeting, check writing, balancing a checkbook, credit, etc using tools such as online banking, calculators and Quicken. • When will my son/daughter begin to meet with a Student Financial Planner? Traditionally, financial planning starts when a student gets employed. Our experience has shown that students tend to do better when actually managing real money as opposed to simulations.
Financial planning is designed to produce a structured action plan to allow you to achieve your financial and personal goals. It is a stringent process conducted in keeping with your needs and one which takes into account all of the factors that are likely to have an impact on your financial standing.
