Friday, May 29, 2009

Financial Planning
We've all heard this term before: Financial planning. It pays to do some homework and have proper financial planning these days, as we will always have uncertain days ahead of us. What is proper financial planning and what is not? Hence the role of a good financial planner will come in, to assist in money management.

Hubby and I have always believed in proper financial planning. We have always believed that with wise spending and proper investments, eventually we would see our money grow. Whether it will be our retirement plan or for some other financial reasons, it pays to have some sound knowledge in financial planning. Nobody wants to be stuck with debts their whole life, right? So over the past several years already, we've consulted people who have in return, assisted us in making some money making decisions. We've also made some investments in unit trusts, got ourselves some policies and coverage.

A friend of ours came over the other night, and shared with some information which we were seeking. Hubby and I have been doing some research on our own, to try to find ways to make our money work for us. With the interest rates in banks so bloody low, it only makes money sense to seek for other alternatives to park some money elsewhere and make it work for us.

While on the topic of savings, our friend offered to do a quick financial study on the both of us, just to see where we stand and how we're doing with our finances. I can't remember the actual name of the study already, but it's basically some questions and figures, which the programme will then generate out a gross layout of our finances (debts, liquid assets, surplus etc).

It was quite interesting to do such a study, as we haven't really done it before. Even though it may not be 100% accurate (as some figures were rounded up to make it easier for calculation purposes, and for some we can't really remember the exact figures), it does give us a rough idea on how we fare in our finances and whether or not we're on the right track (which by the way, we're doing ok ;D).

This year, hubby and I are looking into a plan. And we hope to be able to see it materialise by the end of this year, or early next year.


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