April is the first month of the new financial year. It is better we start planning regarding our finances now rather than at the end of the financial year. It is a good sign to move ahead with our finances in a planned way rather than haphazard way.
Financial planning is a process of managing our finances in order to achieve the financial goals. Before you start planning you should have financial goals. It is very important. We should know what the goals are, once that is clear the rest all are easy. Examples for financial goals are buying a property, buying a home, going on a vacation, visiting a relative in a foreign locale and so on. Let the goal be very specific, if the goal is very specific then I am sure the path that leads to it also can be easily figured out. Once the goal is set the planning becomes the next step. Continue reading