Financial Planning for Families

Guiding you to prepare a simple financial plan, and help implementing the plan to secure your family’s financial future.

4.30 (18 reviews)
Udemy
platform
English
language
Productivity
category
Financial Planning for Families
152
students
3.5 hours
content
Sep 2023
last update
$44.99
regular price

What you will learn

Upon completion, without anyone's support, you will be able to prepare a financial plan which will help you achieve all your family’s future financial needs.

You will identify future financial needs / goals of your family.

You will be able to calculate the future cost of your every financial needs, funds required for children's higher education, marriage and for your retirement.

You will learn about different types of investments and will be able to develop your own investment plan to accumulate funds to reach your goals.

You will be able to calculate the adequate insurance coverage amount you need to cover yourself to protect your family adequately.

You will learn how to buy high coverage amount life insurance at the lowest cost.

You will be prepared to handle any predictable and unpredictable events of your life.

You will learn about Mutual Funds and its benefits.

You will learn Systematic Investment Plan (SIP) to create wealth by investing very small amounts periodically in an auto pilot mode for long term.

Use SIP to accumulate funds for your comfortable retirement life.

You will understand the Time value of money and start your investments immediately.

Description

Everyone wants to have a comfortable financial future and be able to meet their family’s future financial needs / goals. Without any doubt everyone hopes for that. But how many of them plan and work towards the same? It is unfortunate that how many of them, first of all know how to prepare a financial plan and work towards the same?

Schools and Colleges provide them excellent education to earn good amount of money, but nowhere it is taught how to manage their money to live well today and plan for their family’s good financial future.

Personal Financial Planning solves this problem. It helps you and your family to live well today and ensure your family’s good financial future.

Financial Planning is based on the fact that every individual has certain basic financial needs to meet at various stages of life such as getting married, buying assets, creating funds for children’s higher education, daughter’s wedding, and for a comfortable retirement life.

To have a financial plan, you don’t have to be mega-rich or to be old and approaching retirement. It does not matter how much you earn or what your age is.

Financial planning enables you to develop strategies to achieve all your financial needs / goals and deal with unforeseen needs that may arise in life.

The best part is that it ensures right amount of money is available at the right point of time in the future to achieve life goals.

The flow of this course is designed for easy learning and clear understanding through step by step simple approach. It is like learning a, b,c, d…., no fuss.

I have prepared a Financial Planning booklet in pdf format, and the charts in excel sheets for you to complete your Financial Planning for your family.

Content

1-Welcome to Financial Planning

1a-Introduction to Financial Planning
1b-Course Contents
1c-About me

2-Why do we need to plan for our future?

2a-Why do we need to plan for our future?
2b-Are you ready to face your future financial requirements?

3-Financial Planning Process

3a-Effect of Inflation
3b-Financial Planning Process
3c-Financial Planning Process-Step1
3d-Financial Planning Process-Step2
3e-Financial Planning Process-Step3
3f-Financial Planning Process-Step4
3g-Financial Planning Process-Step5
3h-Fill your Financial Goals Worksheet
3i-Find out your Networth

4-Basics of Money Management

4a-Understanding and Overcoming Life Style Inflation
4b-Implement Pay Yourself First Strategy
4c-Ideal Flow of Money
4d-Implement Your Monthly Budget
4e-Understand and Use the Strategy of Needs and Wants
4f-Happy Living formula 50-30-20

5-Basic Concepts of Investing

5a-Difference between Savings and Investing
5b-Common Types of Investments
5c-Look always at Real Rate of Return
5d-Two ways of making money
5e-Liabilities are not always bad

6-Financial Planning for your Family

6a-Creating a Model Financial Plan for a Family

7-Life Insurance Planning

7a-How much Life Insurance Cover you really need?
7b-Calculating Adequate Life Insurance Cover Amount
7c-What is Endowment Insurance Plan and how much it costs?
7d-What is Term Insurance Plan and how much it costs?
7e-How a family can survive in case of any unfortunate happens?

8-Health Insurance Planning

8a-Health Insurance Planning

9-Emergency Fund Planning

9a-Why every family need to have Emergency Fund?
9b-How big your emergency fund should be?
9c-How to build an Emergency Fund?
9d-Where to keep your Emergency Fund?

10-Plan for Wealth Creation

10a-Principles of Long Term Wealth Creation
10b-Portfolio Creation & Asset Allocation
10c-Choosing the right mix of investments
10d-Role of Mutual Funds in Wealth Creation
10e-Making use of Systematic Investment Plan (SIP)
10f-Calculating the monthly investment amount needed to create Rs.1 Crore

11-Children Education Planning

11a-Calculating the monthly investment amount needed to create Education Fund

12-Daughter's Marriage Planning

12a-Calculating the monthly investment amount needed to create Marriage Fund
12b-Making use of Gold Mutual Funds

13-Retirement Fund Planning

13a-Calculating the monthly investment amount needed to Create Retirement Fund
13b-Making use of Systematic Withdrawal Plan (SWP) to Create Monthly Pension
13c-Understand the Time Value of Money
13d-The Cost of Waiting to Invest

14a-Completing Financial Planning for Your Family

14a-Completing Financial Planning for Your Family

Reviews

Deepika
March 1, 2024
The course is clearly directed towards a male being the bread earner and it distracts me from time to time. And do we only need planning for daughter’s wedding? What does daughter’s wedding implies here? Dowry? Few questions and thoughts at start of the course. Could have been better if it was not so male eccentric.

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Related Topics

4047578
udemy ID
5/13/2021
course created date
5/23/2021
course indexed date
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