Financial Planning For Future

Financial Planning

financial planning means planning (Plan) to meet all kinds of finances of your life, that is, financial needs,

And if you say it in simple words,

"The scheme (Planning) to meet the financial needs is called financial planning"

Now they try to understand even a little Financial Needs,

1.what kind of financial needs are?

2.why they need to be planned?

Money Requirements (Financial Needs),

e.g.

Regular Income for Daily Needs – Regular Income for Regular Expenses,
Security of Income – Protection of income so that we continue to get regular income(income for post retirement)
Emergency Funds – need FUND (money) for any emergency situation or event, such as economic tragedy (Financial Crisis), illness, accident, etc.,
Short Term and Long Term Life Goal - your own home, your car, good education of children, and their marriage, visiting the country or abroad, and much more,

Thus financial needs may vary from individual to all of us, but money-related needs are certainly required by all,

Meeting one's wealth requirement (Financial Needs) for every person is a goal of his life, which is also linked to his personal success (Personal Success),

Now, you must have a similar Financial Needs, and this financial need always motivates us to work and make money, and that is why we all work continuously from the beginning of our career to retirement so that we can meet all these financial needs. ,

But Important question is:

Do we all succeed in completing the financial need?

– So the answer is " No",

Only 5% of people achieve economic success, and the remaining 95% fail, and are caught up in a Rat Race,

why is making Financial Plan important ?

I don't need to tell you how important planning is for success in any work, there is a saying in English about the importance of planning – Being Prepared is half the battle won, that is, if the preparation is good, half the victory in the battle is already decided,

So our economic success in this way depends a lot on whether we have a financial plan at all,

To achieve economic success, having a financial plan becomes very important.

Benefits of Financial Plan

In addition, when it comes to the benefits of financial planning, there are many benefits of financial planning, such as –

1.Financial planning allows us to control our unnecessary expenses, and thus increase our cash flow income positively,

2.Maintain a proper balance between your income and expenses,

3.With the help of a financial plan, we can invest our savings money better and better, investments that have the least risk and get maximum benefits, which are sufficient to meet our economic goals,

4.Financial plans help us complete proper tax planning, retirement planning, and all financial goals, big and small,

5.With the help of a financial plan, we can provide an economic security to our family and children's future with the cover of a proper sum assured so that the family members do not have to seek financial assistance from anyone else in case of any calamity,

We all want to invest best, so investing according to financial planning can make it easier for us to choose the best investment options.

About

Hi , This is Pramod Choudhary from Nagaur Rajasthan India. I an student and I would like to share my positive thinking with everyone that's my passion . Thank you

Financial Planning For Future || Investment ||

Financial Planning For Future

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