Question

short note on Importance of financial planning.​

Answer 1

Answer:

hey mate,

financial planning is important because.

1 .income - managing income help u understand how much money u will need for tax payments ,or other monthly expenditures and savings

2. Family security- proving for our family financial security is an important part of the financial planning process.

3.capital- an increase in cash flow can lead to an increase in capital . allowing you to consider investment to improve our overall financial well-being.

4. investment- a proper financial plan consider your personalobjective , circumstances, and risk of tolerance. it help in guide to choose the right type of investment.

5. Financial understanding- Better financial understanding can be achieved when measurable financial goals are set.

I hope it helps u..