Personal Financial Plan

I'm Aubrie, and I have created a financial plan personalized for you and your family. I understand both parents work, and your needs include rent, cell phone plans, insurance, and groceries. My plan covers that and your wants and goals, like eating out, family outings, buying a used car, and refinishing your kitchen floors. Let's dive into the options I have for you!

This is your personal financial plan.

Hello!

Many apps and websites are designed just for budgeting and organizing your money! A few I have researched and recommend are EveryDollar, a website that helps you budget each dollar to know where your money is going. Second, The Ramsey Budget Calculator which helps you assess parts of your personal budget and show how you can spend your money each month. Lastly, Nerd Wallet. Nerd Wallet teaches you how to invest in stocks and prepare for retirement.

Financial Tools

Budget

• I have created a realistic budget using EveryDollar and your current income. This budget pays for your needs and sets aside money for your wants, savings, and goals.

Investments

Investing is a great way to make more money. I recommend using Investopedia, a stock market simulator where you can learn to invest in companies while using virtual money. When you are feeling ready, you can invest in the Stock Market, Bonds, Savings accounts, Mutual Funds, and your company's 401k. Something vital for investing is Diversification. Diversification is investing in diverse companies and stocks to lower your risk of losing money.

Short-term CDs or Certificates of Deposit for six months to a year will create a higher interest rate on the money you have put away; in turn, you will receive more money than you put away.

Investing in the stock market is an effective way to grow money. Although it is risky, investing in the right stocks will help financially over a short period.

Short Term Goals

Short Term CD

Stock Market

These are some short-term invesmetn goals that can help grow your money.

Investing in your company's 401K is beneficial for reaching your retirement goals because it automatically sets aside money for a retirement account and can even help you retire early.

Real Estate is an excellent long-term investment because, over time, the value of your property or land is almost guaranteed to rise.

Long Term Goals

401K

Real Estate

Here are some long-term goals that will help you meet your financial needs.

This unit taught me much about investments, budgeting, and resourses! Investments suitable for short-term goals include the stock market and a short-term CD. I learned about both of these in this unit, which will benefit my future. Long-term investments I learned about are real estate and your company’s 401K. I now know the importance of investments and how I can use them to reach financial goals. I also learned about diversification and why it is essential. Now, I know that diversifying my investments lowers the risk of losing money. During this unit, I learned how to make a realistic budget. I previously didn’t know that there were so many things to budget. Now, I can split money realistically into different budget categories, which is very important when making my budget. There are many resources and websites designed for the purpose of budgeting, planning, and learning about investments. Some resources include Nerd Wallet, EveryDollar, and Investopedia. I have learned many important things during this unit and am very thankful for this new knowledge.

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