Personal Financial Plan

Financial plan is a document which analyzes a person current income status. As the plan develop, the history of past decision plays a part on how the person will continue to handle today income status. There is a possibility of making changes to any form financial status. The individual has to be willing to make the necessary changes. Financial responsibility is a place where a lot people would like to be and often failed to reach that point. Everyone likes the finer things in life, but refuses to save for later. We want quick gratification by pushing the limit of our finances. My personal finance became important to me at the of 30. In my mid 20s became vigilant of the way money was being spent and how it may affect my daily live. The goal

One would advise to get a financial planner, expert has point out finding a good FP can be daunting (Dowdy,2015). Anyone who has been dealing with finance cannot predict every aspect of the finance world. Some people from the current generation believes investing is harder than maintaining a diet (Dowdy,2015). An investor not only has to find a good FP at the same time there has to be a need to be informed about the in and out investment, which is the basic understand of stock market. The agent has to be a Certified Financial Planner the person must pass strenuous exams to get their certification and adhere to laws established by the government body when providing financial planing, meaning they have to put your interests above their own with the financial advice. If you are looking for specific investment advice, consider a registered investment advisor, an advisor who is registered with the Securities and Exchange Commission or a state's securities agency and must also adhere to the fiduciary standard

Homeownership is a way for an individual to prove he/she has made it. It showed the person has the finances, a good job and good credit. On the other hand, real estate has not been the perfect dream. In the last 6-8 years, the housing market crashed and the dream became a night mare. Today, expert found in the new poll, there are apparent differences between men and women, young and old, and renters and homeowners, with the former in each example less concerned about ownership than the latter. Just 54 percent of African Americans, who suffered disproportionately heavy losses during the foreclosure crisis, now say homeownership is very much a part of the American Dream, among the lowest of any demographic group, according to the Post-Miller poll (Haynes,2015). The dream is still alive and a person has to stay within their current income. According to financial expert a home should not exceed 30% percent of income. Anyone who chooses to go beyond the range is putting themselves at risk. A home supposed to be shelter such has an apartment. If a family does not have the capability to buy a home, renting can be just as economical and financially