Everyone has different goals in life. It might be buying some expensive items or having great holidays. It might be education planning to lavish marriages. But very few people can attend the goals as expected due to lack of financial planning. Proper financial planning will help to attain the financial freedom.
Why You Require Financial Planning
✓ Help you allocate the money properly among monthly expenditure and monthly saving.
✓ Controlled expenses will help to leak out money which later on impact on financial health.
✓ More accumulation of money through proper planning
✓ At the time of crisis, proper financial planning leads to better cash flows which ultimately saves from the situation.
Steps Towards Financial Planning
✓ Goal Setting
✓ Understanding the effect of every financial decision
✓ Regular Re-valuation of the planning
✓ Start as soon as possible
✓ Expect normal, no unrealistic expectation
✓ Always have long-term view.
Myths About Financial Planning
✓ Start financial planning once in crisis
✓ Always postpone it for the next time which don’t comes
✓ Only rich people require financial planner
✓ Start financial planning without having a long term view.
✓ Getting advice form relatives and family members. Not professionals.
✓ Investment and financial planning are same things.