0
Unfortunately the consequences of poor financial planning are often severe, especially for women. Suddenly retirement looms and you face the rest of your lifetime in relative poverty. The best advice is to start early when it comes to financial planning so you don't end up a bag lady feeding pigeons in the park. Financial Planning is not just about retirement however, its about planning for the unexpected and expected life changes you will face. It is different for each of us, but a good financial plan is tailored to the things you want to experience in life, say children and time out of the workforce is on the cards in a few years, you may want to understand that time out of the workforce means less money in retirement so putting away extra now, it could also be about putting money aside for college education, it should also involve making sure you have the correct insurances in place for your new family, wills and estate planning are an important component of an effective financial plan. An effective financial plan is not a one off, it has to live and breathe with your goals and challenges, it allows and plans for cash flow should the unexpected happen with your health or the death of a partner. Money management, cash flow changes, health challenges and retirement are all things we each go through, setting a financial plan in place means that although it will still be emotionally challenging you will be able to focus on getting through it and dealing with the situation instead of the additional worry of losing your house, your cash flow and wondering how on earth you will make ends meet. If you would like to know more pop over to www.financiallyfabulous.com, it also has some great free tips and ideas to help provide you with the guidance you need so you put together an effective financial plan and don't end up a damsel in distress. We want you to live Happily Ever After.
What else can I help you with?
What are the consequences of failure to planning?
In the business world, planning is to avoid the consequences of failure. Planning helps to have a focus, and solutions to possible issues that may arise. The consequences could be not having realistic goals, and not having the right people to help accomplish the goals.
Select the Risk Handling Strategy being described Planning for the potential consequences by putting a monitoring process in place?
Planning for the potential consequences by putting a monitoring process in place is Assuming the risk.
What is poor planning?
poorly planned- development not well thought out.
What are the consequences of poor Human Resource planning?
1. Poor HR Planning will result in labour shortages or/and surpluses. 2. The employees will be dissatisfied, demotivated and grievances will arise. 3. Poor hiring will increase costs (more expenses on training, rehiring etc) 4. Recruiting wrong people will result in errors during work, ineffectiveness, legal issues, customer loss/dissatisfaction, loss of reputation etc 5. High labour turnover 6. It will adversly impact on organization's bottom line. This will result in loss of competitiveness in the industry.
What are some of the potential consequences of not planning?
If you don't plan, you will not be prepared for the event, or any changes to the outcome you might be expecting.
What are the consequences of poor tourism planning?
One of the consequences of poor tourism planning is having no hotel in stay in. Another consequence could be not knowing what to do when you arrive at your destination.
Problems associated with poor financial planning?
poor financial performance in small scale bussiness
What are the consequences of having a lack of tourism planning or poor tourism planning?
The consequences of having a lack of tourism planning or poor tourism planning is that the tourism industry is unorganized, the tourist does not take the opportunity to travel, the numbers of tourists decrease. and profits decrease.
What is the causes of financial problem?
poor planning laziness ignorance
What are the consequences of poor planning and poor controlling in businesses?
the consequences of poor planning and poor controlling in the businesses 1. retrenchments of jobs 2. economic melt down 3. insolvency 4.bankraptancy 5. recession 6.the escalation of crime due to job loss
Why did federigo become poor?
Federigo became poor due to his excessive spending habits and lack of financial planning. He squandered his wealth on lavish items and hospitality, which eventually depleted his resources and led to his financial downfall.
Name some of the affects poor planning and organisation of tasks can have on enterprise success?
Planning and organization are two important factors that contribute to the success of an enterprise. Hence poor planning will result in loss of financial reward, loss of clients and opportunities that might have come their way.
What are the financial consequences of ecstasy?
The financial consequences of ecstasy can be quite dire. Just blaze pot.
What is improvident?
Improvident refers to a lack of foresight or planning, often resulting in wastefulness or poor decision-making regarding resources. It describes actions or behaviors that do not consider future consequences, leading to financial or practical difficulties. An improvident person may spend recklessly or neglect to prepare for future needs.
What does a certified financial planner actually do?
Financial Planners are the ones who deal in resolving financial issues by making a financial plan like cash flow management, education planning, retirement planning, investment planning, estate planning, tax planning, insurance planning, risk management, and business succession planning for business owners. A financial planner must already finished his/her CFP certification program so he/she can practice his/her skills and knowledge in the field of financial planning.
What is the first step in the financial planning process?
The first step in the financial planning process is to determine your current financial situation.
Where can one go to get a certified financial planning consultant?
Certified Financial Planning consultants are widely available at many brokerage firms and financial planning agencies such as Financial Planners Respond or Smart Money.
