Financial Planning Online Course
What is Financial Freedom?
The main objective of many individuals, precisely if I say it’s for every individual in their life to attain financial privilege or may be able to say to gain financial freedom.
Financial freedom is the status of getting a sign of relief, In other words, having enough money to meet the regular day to day expenses without getting employed in Job. Passive income secures a steady money flow without getting employed.
There are many strategies, to achieve financial independence, which carries their own advantages and disadvantages. To attain retirement financial planning, it’s a very must to have a financial plan and budget, which will help you to understand the cash flow, how money is coming in and going out,
The financial planning advisor carries a great vision about the financial market and guides each investor to build a great investment portfolio for higher returns.
How to do financial planning and analysis?
Financial planning and analysis is a discipline toward achieving financial goals, which combines both financial and operational data of individuals or corporate to get in line with the business process and strategies of financial goals. This also helps to monitor analyze and manage working capital the funds needed to cater day to day short term obligations.
Financial planning software
Financial and Investment planning software is the utmost importance to keep traction of cash flow, which helps make budgeting easier and also to forecast the expenses to handle effectively. Harshal`s Web has compiled the list of best financial software’s currently available in the market along with more information to estimate and rely on best financial planning program and Investment portfolio management software
Mint, Emoney, Quicken, Personal Capital, Advicent, MoneyGuide Pro, Money tree and Turbo Tax
Free financial planning software
Free Financial planning software is made available to an investor who is beginners and is struggling to keep a track on the income versus expenditures. For such individuals, free financial planning software is a boon. In this digital era, many financial institutions and planning academics have put their mind to create innovative software perfectly featured to cater to financial planning services.
Best free and open-source financial planning software
Process of allocating and utilizing funds in a manner that individuals or business owners can gain financial objectives and goals. Irrespective of the Individuals planning stage whether he is planning for his/her retirement or some company-related acquisition etc, its critical to plan finances.
Business owners, financial planners encounter many challenges which are as follows:
Real-time results are not available: Latest information based on financial planning has a huge possibility of yielding good results to attain financial goals
Data errors: Limitations in arriving in the accuracy of financial figures due to inconsistency in data
Data scattered: Lack of data optimization as data are stored in different files and folders which degrades financial plan for a business.
Collaboration and communication: The financial situation of the business, depends upon great co-ordination between a team in a particular organization, without which it’s a challenge for financial planners of business owners to be accurate.
The above financial planning its overwhelming and amazing, however, there are many financial planning solutions present in the market to determine the current financial position of your company to meet business future goals. Every year company budget for expansion of business functions depends upon the performance of the company; hence it’s crucial for any company to have a quarterly review on company performance
Basic understanding of financial planning software and its benefits with features are as given below
- Gathers data which helps in clarifying and understanding financial goals
- Displays different investment options with profitable financial strategies
- Creates a clear action plan relevant to allocating funds and cutting down expenses
- Executes a newly created financial plan
- Review and optimize the financial plan
- Monitors results and generates reports
Below are around 8 free open-source financial planning software, which helps to consider customizing and deploying for current business with minimal investment.
1) Firefly – helps you to keep track of your expenses, income, budget, and everything related to your funds.
2) GNU cash – It’s easy to use, powerful and best financial planning software that allows you to track income and expenses, a stock with bank accounts
3) Skrooge – allows you to manage your personal finance with best tools used for entering, monitoring and analyzing your expenses
4) Kmymoney – Ensures to keep your finances incorrect order, very user-friendly software, even non-technical person can manage their finances efficiently.
5) Buddi – Buddi is a free and open-source personal finance and budgeting software for people with no finance background
6) Home bank: It’s easy to use help analyze finance and budget in-depth with powerful filtering tools and graphs
7) Money Manager EX
It’s cross-platform and easy to use software designed for small and medium business owners
8) Personal Capital
Helps you in having full control over your finances with 360-degree view of your money and see all accounts and investment in one place
Financial planning online course
It’s a remarkable achievement, Mitt Romney, Congressman Multi millionaire who paid effective tax rate which crosses roughly 14%. Which was next to impossible to believe, how someone made that amount of money and falls under the low bracket of tax rate compared to any American? That’s just because proper financial planning was executed for Tax planning and saving.
Financial planning and budgeting is perhaps the prominent step to land property income for financial freedom. The strategy goes very simple, more income invites more tax payables, but if it’s invested smartly then your money can work for you and at the same time assets will also be created with an exponential passive income which ultimately accumulates wealth for the future retirement plan.
In our opinion, anyone and everyone can execute these strategies to reach financial independence. Online financial planning academies have made below basic courses that will help beginners, individuals, entrepreneurs, investors, business owners, or Families (H.U.F) and other professionals to achieve financial goals.
How to generate passive income?
Understandings on the tax system to save tax
Investment plans which fetch higher Return on Investment
Stock holdings for a long term and short term gains
Reduce Property tax bills on their very next returns
Individual needs to focus on Accumulating assets in compare to Liabilities, as to get on and gather revenue-generating investments or assets until it overtakes the living liability expenses, also to gain enough liquidity in terms of cash flow which makes life easier to meet the day to day expenses for a lifetime.
To gain financial freedom its very important to take control on reducing regular expenses, which definitely will remove burden of unnecessary purchases and motivates to push basic needs first which leads “Simple living High thinking”.