You may have come across the term "financial planning" in some investment that u made in past. Furthermore you may have decided to get down to prepare your own financial plan but the ebullience soon blew over as you pan down your clueless thoughts.
Here we (financial planners) come into the picture.
Personal financial planning is one of the most important aspects of personal finance.Financial planning is the process of meeting your life goals through the proper management of your finances. The process involves gathering relevant financial information(your asset and liabilities), setting life goals, examining your current financial status and coming up with a strategy or plan for how you can meet your goals given your current situation and future plans.
Financial planning is the process of meeting your life goals through the proper management of your finances. Life goals can include buying a home, saving for your child’s education or planning for retirement.
The financial planning process consists of six steps that help you take a "big picture" look at where you are financially. Using these six steps, you can work out where you are now, what you may need in the future and what you must do to reach your goals.
The process involves gathering relevant financial information, setting life goals, examining your current financial status and coming up with a strategy or plan for how you can meet your goals given your current situation and future plans.
In order to move forward with a solid personal plan, you'll need a clear picture of your current finances.
· Do you have a clear picture of your goals and dreams?
· What benefits do you receive from your employer?
· How do you track your current income and expenses?
indiana.abhi@gmail.com
