What is Financial Planning?

What is Financial Planning?

It is a process that everybody should follow in order to get the most out of life.

Financial Planning starts by working out what’s most important to you in life – ie your goals. Whether it’s moving to a bigger house, retiring abroad or providing your children with a house or funding their education, planning your retirement or setting up a business, you’ll need to do some Planning if you’re going to achieve them. By working out how much you will need,  you can start to plan your finances to work out how to get where you want to be.

Financial Planning is a process:
  1. Establish your goals in life
  2. Work out what assets and liabilities you have
  3. Evaluate your financial status
  4. Work out a plan
  5. Implement your plan
  6. Monitor your plan & make necessary adjustments by reviews
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