financialtreat – will explain about Want to do Free Financial Planning? This is the solution! which you will find in the following article. let’s look at this article carefully!
In managing a financial budget or paying off certain types of debt, good financial planning is needed to avoid liquidity risk, which is a risk that causes us to be unable to meet payment obligations that are due in cash. And you can do financial planning for free.
The principles of corporate financial planning and personal financial planning are the same. That is, managing and managing finances as well as possible so that the desired goals can be achieved in the future. But if you are confused about how to plan money for free, read on for this info, OK!
Want to do financial planning for free? This is the solution!
In avoiding this liquidity risk, we need to implement financial planning, both in planning corporate finances and personal finances. However, do you know what financial planning is and how to implement it? Look at the discussion this time.
What is Financial Planning?
According to Certified Financial Planner, Financial Planning Standards Board Indonesia is a process to achieve one’s life goals through planned financial management. This means that financial planning or financial planning is a financial management process that is used to organize or manage finances in a planned manner. In order to achieve one’s life goals.
The purpose of this life can be in the form of getting married, owning a house, investing in children’s education, and so on. Therefore, to achieve these goals, one must have good and well-planned financial planning. Financial planning can be applied to both corporate financial planning and personal financial planning. This is because the principles in corporate financial planning and personal financial planning are the same.
That is, managing and managing finances as well as possible so that the desired goals can be achieved in the future. Here are the Five Tips, So that you are not confused in planning good finances, see the steps for making financial planning that are easy to implement below:
Define Your Financial Goals
The first step in making financial planning is to define specifically and clearly the life goals you want to achieve with the money you earn today. This financial goal can be in the form of your desire to own a house in the next 5 years, investment in children’s education, or capital to start a business.
Record Your Monthly Income and Expenses
The second step in making financial planning is to regularly record your monthly income and expenses. This is necessary so that you know how healthy your or the company’s financial condition is. In addition, by regularly recording monthly income and expenses, it will also be easier for you to make financial reports and financial planning in the future.
Prepare for an Emergency Fund
The third step in making financial planning is to prepare an emergency fund to be used in case of unexpected expenses. This emergency fund will be very useful in unforeseen conditions such as for hospital treatment costs, vehicle accidents, and so on. By setting up this emergency fund, you no longer need to take money from your financial budget for the goals you want to achieve.
Pay Loan Installments On Time
The fourth step in financial planning is to diligently pay loan installments on time. This needs to be done so that there is no interest expense that accumulates due to late payments. Regularly paying loan installments will also make your financial condition better, especially if the loan is used for potential business capital.
Start Saving and Investing
The next step you can try to make financial planning is to start saving and investing. You need to do this so that the assets you have today are more valuable and provide benefits in the future.
Apply and Monitor Your Financial Planning
After you have done all these steps, then apply and monitor your financial progress. Of course, it is necessary to plan finances well if the financial planning is dynamic, meaning that it can adapt to various situations and conditions that occur.
If there are problems or there are deficiencies in financial planning, then fix them immediately. Still confused about tidying up your business books now? There are also various ways and sometimes there are no fees, namely using a financial management application.
By using a personal finance application, it is hoped that you can manage finances more easily. Because as you know, financial management is quite difficult to do.
But fortunately, the help of increasingly sophisticated technology in this modern era This dern can help you in managing the income and expenditure of money. You can also avoid financial problems if you consistently manage finances through the application. here are some recommendations.
1. Money Lover
The first personal finance application that you can use on your smartphone is Money Lover. Through this application, you can manage income and expenses by various categories.
Starting from the needs of food, transportation, to entertainment. Money Lover will help you to manage your personal finances with 3 main features, namely budgets, savings, and events.
So, you can record certain savings or budgets that need to be achieved, in addition to recording income and expenses. In fact, you can connect this application with your bank account so that it is more practical.
Monefy can be a personal financial management application that you can use. This application can help you record your daily income and expenses with a wide selection of categories.
You can also create more than 1 account with different financial records as needed. Monefy also allows you to find out the percentage of expenses that can be viewed by day, month, or year.
3. Daily Financial Records
The next personal finance application that you can try to manage daily expenses is Daily Financial Records. Daily Financial Records allows you to perform expense calculations more easily.
You can also use different categories when keeping track of your daily expenses. In addition to calculating expenses, Daily Financial Records can help you record income, calculate differences, and make monthly financial reports.
4. My finances
The next application for managing personal finances is Finansialku which can be easily downloaded via smartphones. Finansialku is equipped with various interesting features so that it can help you in recording expenses, financial planning, financial consulting, learning about finance, and knowing financial products.
Unlike other financial management applications, Finansialku has a photo and location feature when you want to record transactions that have been made. You can also manage finances based on the amount of money in your account.
Then, if you have difficulty managing finances, you can ask for help from financial consulting available from the application. So, you can manage personal finances more effectively with the help of a financial consultant who has been tested by a CFP (Certified Financial Planner) certificate.
5. My Money
UangKu is an application for managing personal money that is easy and very practical to use. With the UangKu application, you can record expenses to create savings targets.
This is a personal finance application that beginners can use to manage their money. You will also get suggestions and money limits that must be spent every day so that the targets made can be achieved. This feature can definitely help you in controlling your finances well, you know.
6. Money Manager
Another personal finance application that you can use is Money Manager. Money Manager is an application that can not only help you to record expenses, but can also be used to record expenses with a debit card or credit card usage report.
Besides being easily accessible via a smartphone, you can also integrate this Money Manager application into a laptop/PC. So, you can manage finances more practically because you can edit expense records by day, month, or year according to your needs.
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Mint is an application that can help you manage your personal finances. With the Mint application, you can create multiple accounts according to their respective income and expense records.
Of course, you can record expenses with the various categories provided. In addition, Mint can remind you to pay bills, track financial goals, to do credit scoring effectively. So, you can manage your personal finances more wisely through this one application.
So that’s a little explanation about financial planning along with some tips that you can try to do financial planning for free. Good luck.