Upon completion of this course you should be able to develop

Upon completion of this course you should be able to develop a personal financial plan to help you achieve your short-term, intermediate, and long-term goals.  Short term goals should be achievable within 1 year, while intermediate goals will take 2-5 years, and long-term goals probably won’t be reached for 5 years or more.  Each of us has dreams that can be turned into reality with sound planning and personal effort.  This project will help you design a workable, realistic, and flexible plan to make your financial dreams come true.Phase 1 Short-Term GoalsYou will create a workable budget using your current income and expenses to help you meet short-term goals such as reducing/paying off credit debt, finding ways to trim your monthly expenses, see where you spend your money each month, open up funds to begin savings/investment accounts, etc.  Remember, your financial plan is unique for your particular circumstances and personal financial goals.  You will complete worksheets to determine your spending patterns, create a workable budget, and make you aware of how realistic your one-year goals really are.Phase 2 Intermediate GoalsYou will need to consider any life style changes that may occur after you have achieved your short-term goals.  Determine how these changes will affect your income/expenses, insurance needs, credit needs, and savings/investment planning over the next 2-5 years.  You will develop an action plan for incorporating these changes into your financial planning and list the action steps you will take to complete this phase.Phase 3 Long-Term GoalsIn this phase you will be setting financial plans to help you achieve goals that will not be reached for 5 years or more.  Setting and achieving the short-term and intermediate goals you set in the previous phases will be the basis for your achievement of these goals.  You will need to consider such issues as retirement, college education expenses, opening your own business, or being able to afford such luxuries as a second vacation home.  You will develop an action plan for achieving these goals and analyze the potential for risk affects.*IT HAS TO BE AT LEAST 5 PAGES*