Financial Planning
About Financial Planning
Financial Pyramid
Financial Goals

Steps for setting Financial Goals:

Write your goals and be specific:

When you write your financial goals it will help you to visualize them. It should be specific and realistic.

Identify your time-specific goals:

Short -Term Goals: The goals which you want to achieve within 1 year. For example: your child’s play school admission.

Medium–Term Goals: You want to achieve these goals within 5 years. For example: your child’s school admission.

Long–Term Goals: Goals that you want to achieve after 5 years. For example: Retirement, Child’s Education and Marriage.


After listing your Financial Goals, it’s time to number them according to your priority.

Analysis of your Current Financial Situation:

Cash Flow Statement

It will give you the full information of your income and expenditure.

Net Worth

Net Worth is an overall statement of your assets and liabilities.

Net Worth = Asset – Liabilities

Importance of Cash Flow Statement and Net Worth in Financial Planning

Both the Cash Flow and Net worth Statements will give you a real picture of your present situation and help you make realistic financial goals. Update it regularly. These two vital documents do not replace each other; but they are supportive documents to each other.


In financial planning, budgeting plays a very vital and important part. Budgeting will give you the exact picture of your expenses and spending habits. This will help you to plan your expenses and spending habits more efficiently. If you do not know where you are spending your money just keep a track on your spending habits on a monthly basis. This sounds ridiculous, but believe us, this will definitely help you to reduce your unnecessary spending.

Proper usage of credit card:

It’s an unique tool for cash free purchase payment for interest-free grace period with redemption points.

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