Topic 1 - 1.3 Flexible financial planning

Financial planning means planning future expenditure and deciding how this will be financed. How people decide to finance this expenditure will depend on their anticipated future income, their attitudes to saving, borrowing and other financia products. 

Many people use their monthly current account statement in order to make sure they know what direct debits and standing orders are going out of their accounts. They can then ensure that enough money is put into the account in order to meet these payments. They can get a good idea of what money they have left over to pay for things like food shopping or clothes

However…