1.3 Financial Planning
Learning Intentions
By the end of this section you should be able to do the following
1. Construct a personal financial life cycle to identify financial needs at different life stages
2. Draft a personal financial life cycle to think about planing for your own financial needs
3. Plan finances for different stages of your life
4. consider savings and expenditure
5. Consider estate planning
Videos
Key Words
Personal Life Cycle - This is a cycle that reflects the changes you go through during your life and helps you adjust your financial needs at each stage of the cycle
Will - This is a legal document containing instructions for what should be done with personal money and property after death