FPSC Presentation-Focus_On_Your_Finances_0

FPSC - A Financial Planning Tool Kit for Canadians Aged 15-25 Focus On Your Finances Second Edition Welcome to Focus on Your Finances a financial

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Unformatted text preview: A Financial Planning Tool Kit for Canadians Aged 15-25 Focus On Your Finances- Second Edition - Welcome to Focus on Your Finances , a financial planning tool kit for Canadian youth. You’ve taken an important step towards planning your financial future just by picking up this guide. We hope you’ll find the information provided in these pages interesting and useful. Have you been thinking about buying a car? Are there interesting places you want to travel to? Is the next step in your education or career just around the corner? What about buying your own home – is that part of your longer-term plan? Have you given any thought to how you’re going to pay for these things? By now, you understand the basics. If you want something, you need money to pay for it. But the way in which you obtain money, and use it, is important. As you go through life, you’ll need to know how to make money, save it, and spend it wisely – think of it as a balancing act between paying for what you need and saving for what you want. Learn early how to handle money and the new car, trip around the world, university education or new home all become attainable goals. Financial planning is a process that helps you move from where you are now financially to where you want to be. You decide what’s important to you by setting short-, medium- and long-term goals. These could include financing a post-secondary education, buying a car, paying for a wedding or purchasing a home. This resource will take you through the basics of developing and implementing a financial plan. It will explain why financial planning is relevant to you now and how to make your money really work for you. Introduction Unit Page What is Financial Planning?...................................................................1 Goal Setting.............................................................................................2 Money & Savings.....................................................................................6 Where are You Now?..............................................................................8 Cash Flow................................................................................................9 Budgeting...............................................................................................11 Credit.....................................................................................................12 Investing................................................................................................14 Income Tax............................................................................................16 Seeking Professional Advice.................................................................18 Major Life Events & Money..................................................................19 Post-Secondary Education....................................................................21 Want More Info?...................................................................................26Want More Info?...
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This note was uploaded on 10/16/2011 for the course ADMS 3541 taught by Professor Staff during the Fall '10 term at York University.

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FPSC - A Financial Planning Tool Kit for Canadians Aged 15-25 Focus On Your Finances Second Edition Welcome to Focus on Your Finances a financial

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