Importance of Financial Planning The Importance of Financial Planning: Your Path to Financial Success Financial planning is extremely important in your personal finance journey. In fact, your financial journey begins with a sound financial plan, it is the first step . Whatever are your financial goals - be it buying your first house, saving for your children’s education, or ensure a comfortable retirement - a well-crafted financial plan is the roadmap to meet these goals. In this blog, we will look at the essential aspects of an effective financial planning process that will put you on the path to achieving your financial goals . What is Financial Planning? Financial planning is the process of setting your financial goals, evaluating your current financial position - analyzing your income, expenses, savings, and investments, and taking steps toward the financial goals. In short, it’s about preparing a framework for your financial decisions . An effective financial plan...
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