What is Financial Planning

Financial planning is a process of creating blue print for achieving your life time financial goals, considering the investment options and the responsibilities that individual carry today. Having a financial plan for a family is like a journal or manual or like having a travel plan where all your important events, dates and the amount required is recorded and the strategy to achieve the goal is also recorded. Hence this will be an important manual for an individual for their life time.

In general individuals will resist for financial plan because of an illusion that it is for RICH or for people with IMMENSE income or only for those do not have loans. The suppositions are not true. Indeed Staying away from financial planning will make them deprived. Each and every individual on this earth must have a plan according to their income, life style and their financial goals.