8874404
Descrição
Mapa Mental por lucy blackman, atualizado more than 1 year ago
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Criado por lucy blackman
mais de 7 anos atrás
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TOPIC 1 - 1.7 CONTINGENCY PLANNING
- An individuals personal financial plans evolve as the persons
circumstances change. for example when someone leaves
home, gets a job, gets married or has a child.
- Most of the time these events can be planned for. However, some can be a surprise
so these need to be considered/included in a financial plan.
- Most of the time these events can be planned for. However, some can be a surprise
so these need to be considered/included in a financial plan.
- Contigency planning means to attempt to plan or take into account unexpected events.
- FAVOURABLE EVENTS
- Getting a job
- Having an increase in income/promotion
- Winning the lottery
- Paying off a personal loan
- An increase in saving or
the value of an asses such
as your house
- Getting a job
- UNFAVOURABLE EVENTS
- Losing a job
- Unemployment is a problem for someone who already
owes money as it will be harder to pay off debts.
- Unemployment is a problem for someone who already
owes money as it will be harder to pay off debts.
- Rate of income tax increasing
- Becoming ill and having to stop work
- Unexpected car repair costs
- Losing a job
- When interest rates fell, it made loans cheaper. however,
banks changed their lendings policies so it was harder for
first time buyers so get a loan.
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