FINANCIAL PLANNING – SECRET TO BECOME RICH..! PART-2
In the last session we discuss about what is financial planning why it is necessary. In this session we are going to discuss parts of the financial planning . First thing first .. in the financial planning two words are most likely used with expenses Discretionary expenses Non-discretionary expenses What is a 'Discretionary Expense' A discretionary expense is a cost that is not essential for the operation of a home or a business. For example, a business may allow employees to charge certain meal and entertainment costs to the company to promote goodwill with employees. In the home, discretionary expenses are most often defined as things that are "wants" rather than "needs." What is a 'NON-Discretionary Expense' They are the expenses is cost a essential for operations for the home and business. Foe example, repayment of home loan installment,salary of employees,food and like that. They are the all mandatory exp