Business Finance Homework Help

Assignment 5 Part 2. Create a 10-year financial plan. In a four (or more) page double-spaced report, answer the following questions. Use the information collected last week (in the pre-plan worksheet). The goal of this assignment is to explain what you want to accomplish over the next ten years, and how you will achieve these goals. Strong papers will use course vocabulary and concepts to support each answer.

What are your financial goals? Write out at least one short-term, one medium-term, and one long-term SMART goal. After each goal, explain why this goal is important to you. What makes you think you can achieve this goal? What realistic challenges do you foresee in reaching this goal?

How will you start saving for an emergency? How much money do you need to save to be able to pay for 6 months of living expenses. How will you make sure that you keep this saved money for emergencies?

What debts do you currently have? How much will you need to pay per month to pay off your debts within ten years of graduating college? Do you anticipate taking on any additional debts (such as a car loan or mortgage payment)? What will you do to make sure that you can make payments each month?

How will you invest your money? What type of investments do you anticipate making in the next ten years? How will you invest your money to save for retirement?

What anticipated expenses do you have for the next ten years? If you plan on going to graduate school, how much money will it cost and how will you pay for it? If you plan on having children or pets, what will you do to make sure you have enough money saved to pay for their expenses?

How will you monitor your credit score and credit report? What will you specifically look for to make sure your information is accurate? How often will you review these items?

If you need financial help, who will you turn to? What support systems are available to you if you need advice? What can you do to continuously educate yourself about financial wellness?

In the file is the assignment from last week to help with this weeks assignment