1 / 1

Financial Planning - Definition, Importance/Benefits

Read full blog here-Financial Planning- Definition and Benefits

BFC
Download Presentation

Financial Planning - Definition, Importance/Benefits

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Financial Planning - Definition, Importance/Benefits Clarity about finances is arguably one of the essential factors behind overall financial success. This is why each individual must understand their financial commitments in relation to their income and act on a Financial Plan compatible with them. Continue reading to learn the ins and outs of Financial Planning and Investing. What is Financial Planning? In simple terms, Financial Planning is the process of following a strategically outlined roadmap for achieving one’s financial goals. Please don’t mistake it for shuffling your finances and making space for additional investments; that’s too narrow an approach. It will help if you think the bigger picture. Narrow down your life goals and establish financial milestones that complement those goals. Financial Planning really boils down to setting balanced financial milestones and following through by taking informed decisions. Key Elements of a Financial Plan Let’s have a look at the key elements that constitute a balanced Financial Plan. • • • • Outlining Financial Goals Expenditure Budgeting Assessing the Risk Profile Asset Allocation The Importance/Benefits of Planning Your Finances • • • • It Helps One Stay Prepared for Emergencies It Facilitates Smoother Transition It Helps Save Tax It Practically Guarantees Peace Of Mind So there you have it, Read full blog here-Financial Planning- Definition, Importance/Benefits. Let us know your thoughts about this post by leaving a reply in the comments section. Also,please check out our post on –7 Simple Principles for Building Wealth.

More Related