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Essay Available:
Pages:
1 page/≈275 words
Sources:
5 Sources
Level:
MLA
Subject:
Business & Marketing
Type:
Speech Presentation
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 4.32
Topic:

Financial Planning: The American Institute of CPAs (Speech Presentation Sample)

Instructions:

Speech to a group of students in financial planning. The sample consists of advice to a group of students on ways to manage their finances.

source..
Content:
Student’s Name:
Instructor’s Name:
Course:
Date:
Importance of Financial Planning
Good afternoon students. A survey conducted by the American Institute of CPAs in 2015 revealed that 57% of college students considered their financial skills to be either good or excellent. How do you rate your financial skills? Are your financial skills good, excellent or poor? An interesting finding was that only 39% of the surveyed college students had a budget! Budgeting is the most crucial phase in financial planning. If you want to live a comfortable and successful life then you should learn the important skill planning your finances (Batie). Financial planning helps you to achieve your financial goals and objectives by making it easier for you to monitor your financial decisions.
Most of you are not worried about how they are going to buy a house of or save for retirement simply because they believe that it is too early to begin planning for such things. However, it is never too early to start planning for the future for those who dream of having a good life. Why should you start planning for your finances as early as now? Financial planning helps to increase your cash flow and monitor your spending pattern (Kvantas). During my time in college, many of my friends could account for how they spent the money that they received from their parents or earned through part-time jobs. This is because they did not monitor their spending patterns. How does financial planning increase your cash flow? Your cash flow is increased when you employ measures such as careful budgeting and spending.
Financial planning is also important because it helps you to build a strong capital base (Gulledge). Many people leave college without having any capital base and they have to struggle to make ends meet. You should aspire to leave college with a strong capital base so that you do not end up depending on other people for your financial needs. A strong financial base can be achieved by thinking about investments that can improve your financial position. Proper financial planning will help you in selecting the right investment policy which will enable you to reach the set financial goals.
Another benefit of financial planning is that it helps you identify and prepare for risks (“Benefits Of Financial Planning | Lets’s Make A Plan.”). Risks are unexpected occasions that can bring about financial distress. An example of an unforeseen risk that can happen to anybody is the sudden death of a family member. Financial planning can help you prepare for financial distress that is likely to arise during such times through provisions of life insurance. Another risk that most of you can rela...
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