Financial Planning – A comprehensive approach to your personal finances

Every single financial decision you take affects other financial areas of your life.

How is your lifestyle, how you spend your money, how you manage your cashflows, how you invest your money, how you use your credit card, how you manage your loans. Even your income earning potential – how do you invest time and money in your career & learning, everything is connected.

Which goals are your prime concern and which ones can you delay? How you prioritise your goals and invest for them and how it impacts other goals?

Having a clear idea of where you are and where you want to go financially is an important first step. Financial planning is like a roadmap, a blueprint, to guide you on that path. As a popular quote goes – “Financial planning is like navigation. If you know where you are and where you want to go, navigation isn’t such a great problem. It’s when you don’t know the two points that its difficult.”

The awareness about financial planning is still very low. Majority people still think it as mere investment planning. But financial planning is much more holistic. It is about balancing your needs and wants of today with the needs and wants of tomorrow. It is also about preparing for those harsh bouncers that life may throw at you.

The first Wednesday of October every year is World Financial Planning Day. Take that first step to learn more about financial planning. Educate and empower yourself!

For further info, you can check out this basic video on financial planning – https://www.youtube.com/watch?v=TvXqNbi4pBw

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