Financial Blueprint
A step for Financial Planning
Part of the interrelated steps of Financial Planning is the analyze our Financial Blueprint. This is where we identify our monthly Income, Expenses, and Savings, including the number of years we are working.
Why do we need to know this?
- Using the given values, we can identify the minimum and maximum projected savings we can achieve based on the number of years we are working.
Minimum Savings
This is the least amount your actual savings should be. Having a lower savings amount results to inconsistency which reflects your financial stability. If your present savings amount is in between the minimum and maximum values means that you are consistent with your saving habbits.
Maximum Savings
This is the amount your actual savings should be around to achieve higher financial stability. Having a savings amount that is higher that this value shows that you have an impressive saving habbits which of course reflects your financial stability.