The Financial Planning Process Essay Examples

The Financial Planning Process Strengths Bill and Jan may have real financial planning problems that they can offset with a better planning approach. However, this consideration would not be possible if they did not have any form of income they could budget their needs and wants on. Based on the $60,000 household they currently have, both Jan and Bill have the potential to budget in a better manner as they are not in deep debt. In such case, the income they bring in from their respective sources is above the average that lower middle class households have and, therefore, they have a better chance of settling their mortgage loans and servicing their car. However, while these are the considerations, the savings they have exceed $3000, but are lower than $4000, which is way above the $5000 they make in a month given the annual income of $60,000. In this case, it is strength to consider that, given the major budgets the two consider, they are able to secure above 50% in savings.