Financial Planning Guidelines | What is Financial planning?
Financial planning Financial planning is vital to ensure you are making the most of your money. It can help you create a budget, save for retirement, and make intelligent investments. Everyone pays close attention to their finances. In creating a financial plan using specific parameters, all the components of financial planning are present! Financial Planning Guidelines Here are some guidelines to help you with your financial planning: Create a budget Developing a budget is an essential step in financial planning. By creating a budget, you can gain insight into how much money you're earning and spending each month and identify areas where you can save money. Calculate your total income and expenses each month to start creating a budget. Income sources may include salary, investments, side hustles, and more. Track every penny you spend, including significant expenses like rent, car payments, and utilities. Once you have a complete list of your income and expenses, compa