Planning is the process of making a proper lay down procedure of doing things and following them to achieved the expected objectives or targets.It is both general and specific, longterm and short term.
The personal financial planning is a proper financial management to achieve your goals.
Mary Ann Pafa defines Personal financial management as applying the corporate theories and techiques of money management to your personal finances.
Some people live their life like tomorrow will never come, and when tomorrow comes it meet them unprepared. Most of the time the reason they neglect financial planning is that there income is low, procastination and lack of financial discipline.
There is a wise saying that “he who does not plan actually plans to fail.” So there bear some of this cost – unfulfilled life and career, loss of opportunity in life, bitter Retirement life,unfulfilled destiny and exposure to financial risks.
These are some of the importance of the need to have personal financial planning.
(a) To meet financial goals and obligation
(b) A good financial plans will help you to retire in comfort.
(c) It help you to achieve financial freedom
(d) It help you to make a rational financial decisions.
(e) To take advantage of financial opportunity.
The personal financial planning is a proper financial management to achieve your goals.
Mary Ann Pafa defines Personal financial management as applying the corporate theories and techiques of money management to your personal finances.
Some people live their life like tomorrow will never come, and when tomorrow comes it meet them unprepared. Most of the time the reason they neglect financial planning is that there income is low, procastination and lack of financial discipline.
There is a wise saying that “he who does not plan actually plans to fail.” So there bear some of this cost – unfulfilled life and career, loss of opportunity in life, bitter Retirement life,unfulfilled destiny and exposure to financial risks.
These are some of the importance of the need to have personal financial planning.
(a) To meet financial goals and obligation
(b) A good financial plans will help you to retire in comfort.
(c) It help you to achieve financial freedom
(d) It help you to make a rational financial decisions.
(e) To take advantage of financial opportunity.
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