Financial Planning Concept: Financial planning ensures households or individuals have adequate resources to meet current and future expenses by streamlining income, expenses, assets, and liabilities.
Need for Financial Planning: It bridges the gap between available financial products and client needs, requiring expertise to align products with specific financial situations.
Role of Financial Planner: Financial planners identify client needs and goals, ensuring they are achieved through tailored financial strategies.
Time and Expertise: Personal financial management demands time and specialized skills, which financial planners provide to manage income, expenses, and investments effectively.
Goal Setting: Financial planning involves setting specific, measurable, realistic, and time-bound goals to guide financial decisions.
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