Plan today to secure your tomorrow.
Objective of financial planning “Provide peace of mind” “Preserve your wealth”
In today’s world with consumerism is at speed and inflation at all time high, so it has become more important than ever to save. In fact just saving is not enough, investing wisely is key to success for meeting you short term and long term goals. Market today offers lots of good instruments and we have to find out proper one.
Your money+ your values +your plan = your ultimate net worth
Financial planning helps you understand the implications of each financial decision you make. Its a guesswork process for managing your finance portfolio. Its about more than money.
Everyone has different goals, so it’s important to have a different plan for every individuals, that works for you and your financial situation, both now and in the future.
Why is money so important in our life? Its simply, Because value of everything is measured in monetary terms. Now a days our social relations are also influenced by money worth. i.e. rich persons get more respect in society.
Checklist
Follow them to protect your finances against uncertainty.
Want t be rich, Have a plan
Worries about rising inflation?
Wisely planning organizing investing directing and controlling of your resources, makes you rich.
Your financial journey is influenced domestic and global changes.
In general usage, financial planning is a comprehensive evaluation of a current payouts, saving and future financial state requirements. This often includes a budget which organizes corporates’ funds and includes a series of specific goals for spending and saving in the future.
Vision and objectives of a company plays vital role in creating financial planning.
Task of determining how a business will afford to achieve its wants. It works for your financial situation, both now and in the future.
Basic sense for financial planning is same for individual and corporate point of view.
What steps need to be taken to ensure that the objectives set are achievable from a financial point of view.
Financial planning helps you understand the implications of each financial decision you make.
It’s important to have a unique plan as everyone has different goals in their lives. Financial plans don't have a specific theme.
The process of estimating a person's or company's financial needs for the future and effective investing of the means to achieve them.
Financial planning involves deciding which investment activities would be most appropriate to give maximum return at affordable risk.
Adaptability and stability of financial plan
Financial planning has to be updated when financial changes occur in the context of economic circumstances.
Uncertainty is an inseparable element in investment management. As all things being equal it is less in short term financial planning as compared with the long term financial planning because it is easy to predict market trends in short range and also more easily amendable in case of unfavorable change in economy.
Be realistic in your future expectations and Set measurable financial goals
Financial planning is a lifelong process— cannot change your situation overnight. Remember that events beyond your control, such as inflation or changes in the interest rates and stock market, will affect your financial planning outcomes. Everyone wants to be "comfortable" in retirement, but what do you mean by comfortable and good? Measure your requirements and Clear goals are easier to attain.
A good financial plan can alert for ensure a smooth transition and financial stability, throughout financial phases, such as changes in spending, savings, asset allocation and so on.