Financial Planning

To plan means charting your future course of actionadvance how much to spend, and what to spend on,
in advance and organizing activities and individual andbased on the funds at his/her disposal. This includes
group efforts to work towards the achievement oftax planning, investment planning, insurance planning,
goals. Financial planning involves the managing ofmortgage planning, retirement planning, and savings
financial affairs of a business or an individual.planning .There are a wide range of investment
Financial planning means creating and employing plansopportunities available to the public. People are often
to meet defined financial objectives. The firm mustconfused as to which is the best choice to suit their
decide in advance how it will arrange funds for itsbudget. The funds available must be prudently
working capital requirements and for investment ininvested. One has to consider the profitability,
long term assets. This process of estimating the fundliquidity, and safety of the various investment
requirements of a business and determining theopportunities before investing in them. Investment of
sources of funds are an important part of financialfunds in fixed assets has long term implications as the
planning. Financial planning takes into consideration thefunds would be blocked for a long duration and their
growth, performance, investments, and requirementsbenefits could not be realized in near future. The
of funds for the business for a given period of time.planning of an individual?s finance involves a careful
It provides a detailed plan of action for reducingstudy of the current economic conditions. This
uncertainty and for the proper direction of individualenables them to plan their financial matters efficiently
and group efforts.and achieve their financial goals successfully.
For an individual, financial planning means deciding in