Personal financial management is the first step in drafting your financial plan. This entails collecting information on your personal financial statements, cash flow, assets, debts, liabilities, education and emergency fund provisions. The focus is on budgeting and the short to medium term-cash flow need and the effective management of your debt.

This information once analyzed will indicate if your living within your means, whether your emergency fund is sufficient and highlight all other demands on your cash flow. From here you can focus on optimizing your debt reduction, planning your financial management more efficiently to start achieving your longer termed financial goals.

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