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Benefits of Developing a Financial Plan

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    Part of the video series: Finance & Investment Tips

    From Quick Guide: Financial Freedom Insight

    Summary: The benefits of developing a financial plan include having confidence to move forward with investment strategies, and the potential for a more financially secure future. Formulate a financial plan to benefit all family members with advice from a registered financial consultant in this free video on finance and investment.

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    By Patrick Munro
    eHow Presenter

    Patrick Munro's affinity for investing and financial matters began more than 20 years ago with business education and service throughout the ranks of the banking, insurance and...read more

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    Video Transcript

    "This is Patrick Munro, discussing the benefits of developing a financial plan. A financial plan is an important entity that individuals should put together so that they'll have the confidence to move forward, and develop a strategy to increase their financial well-being. Many people fail to have a written financial plan; starting with a basic budget. That's where you start, and basically, what you can do is add your income and your expenses to that, and start with discretionary income to add to your financial portfolio for the betterment of your future. As your financial plan grows so does your income, and then you always rewrite your financial plan as your goals change and expand. This is very key for the family, and as the family grows as well so should your financial plan to benefit your family members. It's also key if you cannot do a financial plan to sit down with a dedicated financial planner who will help you do so. This is financial advisor Patrick Munro, discussing the benefits of a financial plan."

    eHow Article: Benefits of Developing a Financial Plan

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