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Abstract

This note provides an overview of the personal financial management process. A financial planning framework is presented and described, including setting personal goals, assessing current positions and creating financial action plans. The importance of establishing short- term reserves, having adequate protection, developing a retirement plan and establishing a portfolio strategy are discussed. The note can be used in an investment class which examines personal finance issues.

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Abstract

This note provides an overview of the personal financial management process. A financial planning framework is presented and described, including setting personal goals, assessing current positions and creating financial action plans. The importance of establishing short- term reserves, having adequate protection, developing a retirement plan and establishing a portfolio strategy are discussed. The note can be used in an investment class which examines personal finance issues.

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