Financial planning involves setting up a future plan for managing personal finances. It is a process in which you consider your present and future income, along with current and future costs, to chalk out the funds you will need for your future.

Financial planning process can be exhaustive and not restricted to the   following steps:

1. Gauging current financial situation
2. Establishing clear goals 
3. Estimating cost of future goals
4. Determining ways to fund the future goals

Financial planning generally encompasses aspects such as

1. Investment planning
2. Tax planning
3. Retirement planning
4. Planning for specific goals
5. Budgeting 

Read on about articles that help you be a better financial planner in this category on Finity blog