I would like to share my Financial Action Plan which I carefully and painstakingly thought of! It is actually easy to think of any action plan but the challenge is how to execute and make them happen.I really do hope that these would become reality, but it is really up to me to turn these plans into reality. Wish me luck!
| ACTION PLAN |
| INCREASE INCOME |
| 1. Perform beyond expectations at work to receive better performance bonus and annual salary increases |
| 2. Aim to be promoted for the next 2 years |
| 3. Enhance skills on interest areas which can be a source of additional income: |
| a. Photography |
| b. Travel (as agent or organizer) |
| c. Events host/emcee |
| DECREASE LIVING EXPENSES |
| 1. Make use of public transportation instead of own car to reduce fuel expenses |
| DECREASE INDEBTEDNESS |
| 1. Stop taking advantage of installment offers from Credit Card companies |
| 2. Limit credit card owned to 2 only. |
| 3. Stop negative spending (spending before payday comes) |
| PROPOSED OPTIONS |
| REFERRALS/RECOMMENDED TRAINING |
| n/a |
| SETTING YOUR GOALS (Short & Long Term) |
| Be on a senior management role in 2 years time |
| Complete MBA by end of 2015 |
| Have zero credit card debts bty end of 2014 |
| Maintain savings worth at least 6 months of salary within 3-4 years time |
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