Question

what is the need of financial planning​

Answer 1

Answer:

Financial planning is important because it gives you a plan to achieve your financial goals in different life stages.

Explanation:

hope it is help you

Answer 2

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The amount of money you possess can increase or decrease depending on how you use it. There are many reasons why we should plan our finance. A few of them are listed below.

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• Financial planning has a positive impact on your future. For example, understanding the cost of higher education helps you arrange for it by saving.

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• It allows a person to become financially responsible.

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• It allows for habit formation such as more savings and less borrowings in the future

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• It provides an opportunity for families to speak about money matters.

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• It creates awareness in the community about the importance of savings.