Managing my money
Managing my money

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Managing my money

1.3.1 Applying the financial planning model

To make sure that your financial decisions are well managed, you should start to apply the financial planning model to financial decision making.

Think of a recent financial decision that you’ve taken and analyse your own process of financial planning. Try to remember each stage of your decision and have a go at analysing the stages in terms of the financial planning model. The decision could be something to do with moving house, buying a car, changing jobs, borrowing money for a project.

Figure 5 Assess, decide, act, review – the four golden rules

You’ll apply the financial planning model to your own financial circumstances as you work through the course to help you build your financial plan and complete your fact find.

If you were to make a similar financial decision right now, would you approach it differently?

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