Financial Essay

1399 words - 6 pages

Personal Finance Plan

Yuan Liu
May 1st 2013

Project Name: Personal finance plan

Planer: Yuan Liu

Address: 807 Walters Street APT 147, Lake
Charles, LA, USA

Zip code: 70607

Cell phone: (843)743-4884

CONTENTS
Plan Summary 4-5

Chapter 1 Personal Condition and Finance Goal
Section 1.1 Basic Information 6

Section 1.2 Finance Status 6

Section 1.3 Finance Goal 8

Chapter 2 Personal Finance Status analysis
Section 2.1 Family Assets ...view middle of the document...

2. Reasonable arrangement insurance and investment for retirement

Financial Management Principles:
In the financial management process should follow the basic principles: balance the account, steady investment, risk diversification, and reasonable protection.

Financial Position:
1. Weak cash savings
2. Strong solvency, financial condition is very safe
3. Financial assets structure if irrational: the liquidity assets ratio is too small, less investment benefits.

Financial Management Strategy:
It can be expected, my family remain relatively stable living and working conditions, so the strategy of fiscal prudence should combined with family members’ financial position and risk appetite:

1. Plan the consumer spending legitimately, improve the ratio of current assets.

2. On the investment part, adjust the investment strategy, reduce the amount of the fund will be vote, and add different period, different liquidity and yield financial products.

3. On risk management and insurance part, adjust the original insurance product. Increase the insurance of accidents and major disease, and control the insurance premiums on about 10% annual income.

Chapter 1 Personal Condition and Finance Goal

Section 1.1 Basic information
Name 1: Yuan Liu 
Gender: Male
Age: 26
Marital Status: Single but have couple
Job: Business

Name 2: Wen Li
Gender: Female
Age: 26
Marital Statue: Single but have couple
Job: Officer Management

Section 1.2 Finance Status
Base on the members’information, the financial plan will start:
1. The day to day income and expenditure
Yuan Liu’s monthly disposable income is 5000 Chinese yuan, and Wen Li’s monthly disposable income is 2000 Chinese yuan, they are actual income after deductions of tax, social security. Accordingly, there is monthly income and expenditure table (Table 1); the annual income and expenditure will be shown on Table 2.
2. Household assets and liabilities
Household assests and liabilities are shown in Table 3

TABLE 1: MONTHLY INCOME AND EXPENDITURE
UNIT: Chinese yuan
|INCOME |AMOUNT |EXPENDITURE |AMOUNT |
|MONTHLY INCOME |7000 |BASIC LIVING EXPENDITURE |ENERGY |650 |
| | | |TRANSPORTATION |150 |
| | | |MEDICAL |300 |
| | | |FOOD |1000 |
| | | |ENTERTAINMENT |500 |
|ONTHER INCOME ...

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