Money Management Skills Season 1 Episode 12

Ep 12. Putting Your Financial Plan Together

  • TV-PG
  • December 15, 2014
  • 35 min

Money Management Skills is a show that aims to teach viewers the necessary skills to properly manage their finances. In season 1 episode 12, titled "Putting Your Financial Plan Together," the focus is on creating a comprehensive financial plan that will help viewers reach their financial goals.

The episode begins by emphasizing the importance of having a financial plan in place. A financial plan not only helps individuals reach their goals, but it also provides a sense of security and peace of mind knowing that they are on the right track. The host then proceeds to explain the different components of a financial plan, including setting goals, creating a budget, and saving for retirement.

The first step in creating a financial plan is setting specific and measurable financial goals. The host explains that goals can be short-term or long-term, and can range from paying off debt to saving for a down payment on a house. It's important to have goals that are achievable and realistic, as this will help to stay motivated and on track.

The next component of a financial plan is creating a budget. The host explains that a budget is a plan for how an individual will spend their money. It's important to track income and expenses to see where money is being spent and to identify areas where expenses can be reduced. The host provides tips on creating a budget that works, such as using budgeting software or apps, setting realistic spending limits, and reviewing the budget regularly.

The host then discusses the importance of saving for retirement. This includes discussing the various retirement options available, such as 401(k) plans and IRAs. The host explains the benefits of contributing to retirement accounts, such as tax advantages and compound interest, and provides tips on how to maximize savings.

Finally, the host emphasizes the importance of regularly reviewing and updating a financial plan. Life changes, such as a new job or the birth of a child, can impact financial goals and plans. It's important to stay flexible and make adjustments as needed to ensure that goals are still attainable.

Throughout the episode, the host provides real-life examples and engaging visuals to help viewers better understand the concepts being discussed. The overall tone of the show is informative and educational, with the goal of providing viewers with the necessary knowledge and skills to take control of their finances.

In conclusion, "Putting Your Financial Plan Together" is an important episode of Money Management Skills that emphasizes the importance of having a comprehensive financial plan in place. Viewers will learn the necessary steps to create a financial plan tailored to their specific goals, enabling them to make better financial decisions and achieve their desired outcomes.

Description
Watch Money Management Skills - Putting Your Financial Plan Together (s1 e12) Online - Watch online anytime: Buy, Rent
Money Management Skills, Season 1 Episode 12, is available to watch and stream on The Great Courses Signature Collection. You can also buy, rent Money Management Skills on demand at Apple TV Channels, Amazon, Hoopla online.
  • First Aired
    December 15, 2014
  • Content Rating
    TV-PG
  • Runtime
    35 min
  • Language
    English