Finanical Planning

In: Business and Management

Submitted By queeniaworld
Words 709
Pages 3
BA101
Grantham University
Financial Planning
Financial planning is simply planning for the future of a business to ensure there will be positive cash flow in the years to come. Everybody can benefit from using a financial planner simply by getting all of your ducks in a row. Business is the number one people around that have financial planners. A Financial Planner will talk to you about your goals and finances. They'll then put together a personalized plan based on the building blocks to wealth. However, they bring the right knowledge, expertise and guidance to identify and help you achieve your specific lifestyle goals. It means you'll also be partnered with a qualified professional who's committed to helping you realize your financial possibilities. Once you've outlined your goals and the timelines within which you want or need to reach them, you can figure out how much you'll need to save to attain them. In addition to your earnings, savings and investments are essential to increasing your wealth. For instant, putting your money in an account that accrues interest means you can take advantage of compounding. Compounding occurs when the interest you earn is added to the balance in your account, creating a larger base upon which future contributions and interest can grow. So it can be a powerful force, especially over long periods of time. It's probably why Albert Einstein once said, "Compounding is the most powerful force in the universe.” Not only but also, my grandma used to always say she wanted her own house built but just didn’t have the money at the time. Every week she worked she put back money that she didn’t have to spend on important things until she save enough to buy her own land then years later she had save enough to get her own house built but she just didn’t just up and do it she had to financial save for it.
Financial planning is important…...

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