Financial Planning

Financial planning in personal finance involves creating a roadmap for managing your money to achieve your financial goals. This process includes assessing your current financial situation, identifying your short-term and long-term objectives—like saving for retirement, buying a home, or funding education—and developing strategies to reach those goals. It encompasses budgeting, saving, investing, and managing debt. Effective financial planning helps ensure you have the funds available for important life events and can maintain financial stability. Regularly reviewing and adjusting your plan is key to adapting to changes in your life and financial circumstances.