1. Often, People fail to track their savings,investments and loans.This create a lot of confusions.Tracking personal finance will remove confusions.
2.Managing surplus money is a task.Financial analysis can reveal the risk behaviour of a client.This helps investment planning.
3.Debt is part of personal finance.Managing debt is crucial for financial freedom.
4.Financial ratios estimate financial stability of an individual.
5.Time horizon for goals must be calculated.
Getting a Personal financial analysis report is useful for making a family budget and managing cash flow.It improves skills for money management and reduce overspending. So,Personal financial analysis is considered as the foundation for reaching financial freedom.