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Personal Financial Planning

Personal Financial Planning with Fidelity

Personal Financial Planning

At the core of the products and services offered by Fidelity Bank (Bahamas) Limited is Personal Financial Planning, with accountability to a Financial Coach. This core service entails using the following Financial Planning ‘Smart Steps:


1. Set your goals (in order of priority & with a time frame).


2. Prepare your monthly budget (a spending, giving, savings/investing plan) to:

             - Fund short, medium, long and longer term goals;

             - Fund basic urgent needs;

             - Fund loan, credit card & other debt payments;

             - Fund gifts, donations, tithes, etc.;

             - Fund savings and investments


3. Prepare a weekly time allocation plan (a time table of activities and pursuits to assist you in working towards your goals).


4. Develop an ACTION PLAN (a list of DOs, DEFERs and DON’Ts based on your goals and  budget forms) with the help of a Financial Coach (or mentor) who will keep you accountable.


5. Reduce and consolidate debt using a Debt$aver Loan (to provide more money for savings and to fund your goals).


6. Establish an Asue Savings Account & Fixed Deposits to fund your goals, i.e.:

         - Save to fund short term and medium term goals

         - Save to fund emergencies and annual expenses

         - Save and invest to fund long term goals (especially retirement)


7. Only borrow to buy something which increases in value or to increase cash flow for saving (e.g. Debt Consolidation Loan or an Automobile Loan so you can go to and from your job).


8. Contribute to a Retirement Fund (to supplement National Insurance).


9. Prepare an Estate Plan (Term Life Insurance and a Will or Trust).


10. Invest to fund your long term goals (e.g. a Lot Loan for Real Estate).


This service is FREE to customers and non-customers alike. If you are ready to schedule an appointment, call any Fidelity branch. Complete and download the below forms and bring them with you to your appointment.