Why Financial Planning - Pillars of Financial Planning.

A plan might not necessarily get fulfilled but it gives you focus and direction. You are more likely to achieve your goals if you have them written in front of you rather then not having well thought out goals. Goals give direction. In addition your energy is not scattered any more.

Requirements or desires will always be more then your income. So prioritizing them helps and correct allocation, or near correct allocation of your income takes place.

Since energy is always highest from your teens onwards to around the age of 50 so financial planning and saving should also start early.

Pillars of Financial Planning

• Start as Early as you can
• Pay yourself First
• Start saving
• Reduce Debt

1. Income & Expenditure: A plan helps you to do correct allocation of your income and also helps in monitoring your expenditures. 
2. Financial Literacy: One gets more financially literate about different products and how they have performed over time. 
3. Builds Assets - Reduces Liabilities: Over time you can see how to allocate more to assets and reduce your liabilities. An Asset is anything that gives you money. A Liability is anything that takes money away from you.
4. Cash Flow: Helps in establishing a smoother cash flow.
5. Investment: A proper financial plan considers your personal circumstances, objectives and risk tolerance. It acts as a guide in helping choose the right types of investments to fit your needs, personality, and goals.
6. Protection:  A plan should be robust and ongoing. It helps in protecting you and your family from mishappenings. It helps in reducing loans and liabilities from high paying interest ones to low paying interest. It helps plan from retirement, children's education, children's marriage, vacations, Insurance, Purchases etc. 

Let us help you in having a customized financial plan to get you on track to meet your financial goals.