Most young professionals find
money management to be a
challenging task as they enter
into a world where they have to
find independence in all aspects
of life. "Taking Control of Your
Money" focuses on the
step-by-step process of
organizing personal financial
goals and finding ways to
achieve them.
This
simple process is also called
Financial Planning. Regardless of
the individual's level of income,
financial planning helps young
professionals develop a personal
plan that guides them on how to
allocate future income.
A
personal financial plan helps young
professionals set personal goals,
organize their finances, develop a
clear vision of what they want to do
with their money, determine what
they will do in case of unforeseen
obstacles and eventually arrive at
their pre-determined target at the
time expected or sometime around the
same. Financial planning is not a
new concept; it is a practice that
has been used informally by
individuals, however most of the
time it has been stumbled upon, the
hard way.
The
most important part of financial
planning is setting aside funds for
emergency. Other aspects of
financial planning such as
investment planning, insurance
planning, retirement planning etc.
are usually achieved as time and
money allows and as young
professionals continue to find
independence in the way they handle
their finances.
The author hopes to be able to
supplement the money management
knowledge that young professionals
obtained during their formal
education and provide them with a
simple guide that can be used first
as they start to develop their
careers but also, well into the late
years of their careers.
