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Financial Planning Assignment Help

Students pursuing specialized degree courses in economics need professional financial planning assignment help. To assist them, MyAssignmenthelp.expert has introduced finance assignment help tutoring services for the students of Australia, the UK, and the USA. If you need guidance in financial planning or personal finance management assignment, you can refer to our Ph.D. qualified guides for the best assistance. Personal finance or personal finance planning is one of the three main areas of finance (the other two being corporate financial planning and public financial planning). It refers to the management a person needs to obtain, budget, save, and spend monetary resources over time, keeping in mind various factors like financial risks and future life events.

Personal Financial Planning Assignment Writing Service On Various Areas

According to the Financial Planning Standards Board, there are five major areas of personal financial planning. They are:

1. Cash flow management

Cash flow management is concerned with the financial position of a person. It considers the cash inflows and the cash outflows and determines whether the total outflow is equal to the inflow. In other words, whether the income generated by a person is adequate to meet his monthly expenses is the primary concern of cash flow management. Cash flow analysis also takes into account whether a person is spending more than what he is earning. The net worth is calculated by adding all the assets of a person and then subtracting all the liabilities from the assets at a given moment. We can also have a monthly balance sheet, following the same method. This cash flow management helps an individual note the financial solvency and set financial goals. This is the primary domain that requires personal finance planning and business decisions.

Achieving positive cash flow is essential. A positive cash flow occurs when the total amount of income from all the sources exceeds the full amount required; the outgoing cash flow is greater than the flow of the incoming money. If you have negative cash balances, you need to either cut costs or increase your income level. Here is a typical cash flow statement example of how to do personal finance planning:

       Cash Flow Statement for the month ending December 31st, 2013

Income

Expenses

Earned: 10,000

 

 

 

Investment:5000

 

 

Other:

Pension: 2500

 

Social Security:2500

 

Fixed Expenses:

Savings: 7500

 

 

Variable Expenses:

Necessary : 12,500

 

 

 

 

 

You can refer to our finance planning assignment help for a detailed study of cash flow analysis.

Risk Management

Risk management takes into account unforeseen acts in the future. Some of the significant risk areas are death, disability, loss of property, health, etc. Complete financial planning helps you to cover all the potential areas of personal risk. The specialized financial planners will provide impeccable financial planning help to you. However, there are several risk areas where a separate insurance cover is required. For example, only 20 percent of the homes at risk for floods are covered by insurance in the US. Most of the insurance companies do not provide flood protection cover. Some insurance companies offer high-value insurance cover for expensive homes. After hurricane Katrina, some regions made flood insurance for high-risk areas compulsory for getting bank mortgages. Personal insurance has become extremely important in recent years. Many athletes, celebrities, business owners require separate insurance plans to protect themselves adequately. Our specialized finance accounting assignment help can enrich you with a detailed analysis of risk management.

Investment Planning

Another critical area of personal finance planning is investment planning or financial planning. It refers to the planning for the accumulation of adequate wealth to make large purchases. Significant instances of asset accumulation include the purchase of a car, house, luxury items, etc. In addition, life events like marriages, starting a family, etc., are also a part of personal finance planning, which requires a financial planner’s help.

Achieving these goals require reasonable anticipation of how much these acquisitions would cost in the future. A particular problem that arises with savings is that the savings that a person is likely to have would no longer be good for the future due to inflation. So suppose a person saves 10,000 dollars in anticipation of a future purchase, then at the time of that purchase, the purchasing power of 10,000 dollars would no longer be the same. Or in other words, 10,000 dollars would not be able to buy the same amount of items you can buy at present as such mere savings would not be good. Therefore, a person needs to make some investments that would pay him high rates of return. Therefore a person needs to consult a financial planner who would use a combination of asset earmarking and savings to be invested in various investment options. The investment portfolio or the collection of investments that a person holds needs to counter the effects of inflation.

In other words, the return on these investments should be such that they would be higher than the rate of inflation. A financial planner usually helps an individual to make up his investment portfolio. However, it should be remembered that investments are subjected to market risks. As such, investments should always be made, considering his present cash flow analysis, an individual's financial goals, risk tolerance, and cash flow statement example. We have another interesting article on risk management in a corporate context for students requiring finance assignment help.

Tax planning

Thoughtful planning for taxes is required to optimize the tax policies and the benefits of tax rebates and discounts which governments offer. Our financial planning assignment help tutors discuss these tax planning and provisions in detail. Typically the income tax constitutes the single largest item on the list of taxes for working individuals. Tax management is therefore essential for individuals to get the maximum benefit from paying taxes. It is regarded as the most crucial aspect which requires personal finance management. Managing taxes is not a question of if you will pay taxes, but when and how much. Governments throughout the world give tax rebates and deductions for various reasons. Further, most governments follow a progressive tax structure. The cash flow analysis and the cash flow statement can give you a brief idea about the possible tax planning of the respective individual.

In the United States, for instance, both the federal government and state governments tax working adults. The income which can be taxed after deduction is called a taxable income, while the total income, which includes both taxable income and deductibles, is called gross income. A person in the USA is qualified for tax deductions if

  1. He has non-working dependants like wife or children
  2. If any other individual does not support the dependant
  3. If a couple of files tax returns separately
  4. If the person is a widow or a widower.

Apart from these personal deductions, there are a couple of itemized deductions. They are:

  1. Medical expenses above 10 percent of annual gross expense
  2. State, local and foreign taxes
  3. Charities
  4. House mortgage interest
  5. Losses on non-business income due to casualty etc.

To compute tax, a person needs to find out the tax bracket within which the income falls. If the income falls in multiple tax brackets, a person needs to find out the various taxable incomes according to all the possible tax brackets and then add them to get total taxable income. So, proper financial planning is required.

How to compute taxes: Calculating income tax is an essential part of finance assignments. Our finance planning assignment help and finance assignment help services include various examples to understand the concept. Suppose we have a person earning 300,000 dollars a year, and we have the following tax brackets:

Taxable income ($)

Tax bracket (%)

0 – 8500

10

8500- 34,500

15

34,500- 83,600

15

83,600- 174,400

28

174,400- 379,150

33

The 300,000 dollars would be taxed at different rates for different chunks of money the person is making. In the above tax structure, $300,000 will fall under all five tax brackets.

So divide the money into different chunks of taxable incomes. For 300,000 dollar income, the various taxable chunks would be:

  1. $ 8500
  2. $ 26,000 (34,500-8500)
  3. $ 49,100 (83,600- 34,500)
  4. $ 90,800 (174,400- 83,600)
  5. $ 125,600 (300,00-174,400)

To calculate the various tax slabs within which your taxable income can fall, multiply the taxable income with the percentage of taxes of that income bracket.

So,

8500 x .1 = $ 850

26,000 x .15 = $ 3900

49,100 x .25 = $ 12, 275

90,800 x .28 = $ 25,424

125,600 x .33 = $ 41,448

Total taxable income = $ 83,897

But this is the base rate. The taxable person will enjoy several deductions based on the tax laws of the country. So if the person has children or is paying interest on something or has governmental bonds and securities, deductions will occur. This will have to be calculated according to the appropriate tax laws. This is a basic example of how income tax can be calculated. If you need detailed explanations with additional examples, subscribe to our financial planning assignment help. From the most eminent financial planners, they will provide the best and unique support to help you compose your finance planning assignment without any hassle.

Estate Planning

It involves planning for the disposition of a person's assets when he dies. Typically, there is a tax due to the state or federal government at the time of a person's death. Estate planning, therefore, requires careful liquidation of property for the benefit of the family and relatives. Failing to do so can sometimes result in the liquidation of the property by the government, which may not include the family of that person. Our financial planning assignment help discusses estate planning intensely.

Significance Of Finance Planning Assignment Help

Students lack the skills needed to accomplish these assignments from scratch. Therefore, MyAssignmenthelp.expert has launched financial assignment help and planning assignment help services to provide extensive guidance to the students. This assistance by Ph.D.-qualified subject specialists is known for its impeccable quality. Our service will support conducting a concise and transparent cash flow analysis, an integral part of these assignments. Followed by lucid cash flow statement examples and cash flow statements, it will make these topics crystal clear to you. Our financial planning help also provides a comprehensive case study to understand and deduce future economic conditions. So, don't wait any further and refer to our finance planning assignment help and finance assignment help services to clear your confusion and secure excellent grades. 

How To Get Best Finance Planning Assignment Help From MyAssignmenthelp?

Finance assignment help on various subjects like finance and accounting, marketing, economics, and statistics is now provided by a world-renowned assignment help provider, MyAssignmenthelp.expert. Along with Australia and the South Asian sub-continent, it also offers proficient help in the USA, UK, Canada, and other English-speaking countries. Our professional assignment guides are competent enough to provide quality help to students at affordable rates. Our domain expertise is varied, and we provide a plethora of other services apart from assignment related assistance. They include custom essay help, dissertation writing services, and case study help. In addition, we have many high-quality free assignment samples uploaded on our website, which can be consulted by those needing reference or assignment help for their unfinished papers. You can now get financial planning assignment help on any subject of your choice through just three simple steps. By subscribing to our service, you are assured of:

  • 24x7 customer care support to resolve your queries.
  • 100 percent guidance so you can create a 100% plagiarism-free solution
  • Reasonable prices for our proficient academic aid
  • On-time assistancemuch before the stated deadline, which allows you to proofread your assignment.

So, wait no more and contact our academic maestros to receive the best finance planning assignment help. You can also reach us for dissertation writing services, research paper, and term paper writing services and get the much-needed assistance to create flawlessly written papers without any fuss.

Frequently Asked Question Financial Planning Assignment

Q.1. What Are The Elements Of Financial Planning?

The core elements of financial planning are:

  • Sales forecast
  • Balance sheet
  • Profit and loss statement
  • Cash flow statement
  • Personnel plan
  • Business ratios and break-even analysis

2. Can I Pay Someone To Help Me ToWrite My Financial Planning Assignment?

You can quickly get quality enhanced financial planning assignments at a reasonable price. MyAssignmenthelp.expert is famous for offering top class assistance with financial planning assignments to students at the best market price. There are also lots of offers and discounts that can get your eye wide open.

Here are a few of the offers among many of them:

  • Combo offer ($20 bonus +25% discount)
  • Bulk in mode offer
  • First-time user discount
  • Seasonal offers
  • Referral bonus
  • Loyalty programs

Q.3. Can I Choose A Tutor For Guidance With My Finance Planning Assignment?

When you place your order with the required details at MyAssignmenthelp.expert for tutoring, the most suitable finance subject specialists will be assigned to you as per your subject. The assigned tutor will have in-depth knowledge of the subject and have years of experience in that particular field. MyAssignmenthelp.expert always looks for giving you the best support and thus carefully selects the tutor who can assist you the best way possible and help you secure good grades.

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