A financial plan acts as a guide as you go through life’s journey. Essentially, it helps you be in control of your income, expenses and investments such that you can manage your money and achieve your goals. Financial planning is the process which provides you a framework for achieving your life goals in a systematic and planned way by avoiding shocks and surprises.
If you take a closer look at the above examples, you’ll find that there is one factor that connects all of them: money. You need to have an adequate amount of money to fulfil your goals and desires. More importantly, you need to have money at the right point in time.