What is Personal financial Planning

Personal financial Planning (वित्तीय योजना)

Today we will talk about what finance planning is and we will talk about it today because finance planning is a subject which very few people in our country understand and even if they do, it is only limited to the high income group or some middle class people whereas its Our lower middle class and even poor people are in greatest need.

What is personal finance and planning and you will also know what you can do with financial planning.
Personal finance is a process in which you manage your income and expenses. It talks about how you can invest your savings and reduce financial risk.

So let us know and understand what is financial planning. The basic principle of financial planning is to achieve financial freedom quickly through savings and investment. In this way, you cannot achieve any goal in your life without planning. In this way, when Unless you make your financial goal and do not prepare any planning to fulfill it, you can never be financially independent and certain in your life. Financial planning means reducing your financial risk. And organize or manage your money in such a way that you can achieve your financial goal in a short time and accordingly you can make an effective financial plan for yourself.

What is personal finance and planning? यानी (पर्सनल फाइनेंस और प्लानिंग क्या है? )

Personal finance is a subject which is directly related to our personal financial situation. In this we learn how to manage our money, save, plan and set financial goals and advance our employment.

Now you must have understood how important personal finance is for our personal economic improvement. 

Now let us understand this with an example:-

If your monthly income is ₹ 40,000, then you will have to divide it into two parts i.e. Spending and Saving and its ratio should be 13:70 in which 30% of your income will be for savings and 70%. Must be for expense
You have to decide how much money you can spend and how much you can save. You can invest according to your income so that your financial condition can improve and this can also include small investments. Such as depositing money in a bank or investing money in mutual funds. In personal finance, it can also be seen that what kind of expenses and activities we have and how we are managing them. Default on time so that excess interest is not accrued.
The purpose of personal finance is to improve our financial life, achieve our goals and be prepared for tomorrow.

What are the five areas of personal finance?

Now we will talk about the five most important areas of personal finance which compete with all the puzzles of personal finance.

1. Make sure to make a budget (बजट जरूर बनाए)

The most important thing is to save first. Your first step should be to create a professional savings account. This allows you to track yourself and your expenses. This allows you to clearly see where your money comes from and where it goes.

2. Learn to save यानी (बचत करना सीखो)

You should open a separate savings account for your savings in which you can deposit money regularly

3. Continue your investment यानी (अपने निवेश जारी रखें)

As important as it is for you to save your money, it is equally important for you to invest your money in time.

4. Pay attention to debit management यानी (कर्ज प्रबंध पर जरा ध्यान दें)

Loan is a common thing for all of us but taking loan can often be a risky step. Before taking loan, we should check from where we can get loan at low interest and save us from high interest loan. Needed

5. Make necessary afford for financial security यानी (वित्तीय सुरक्षा के लिए जरूरी प्रयास करें)

Financial security is also an important part of personal finance. You should also pay attention to financial security policy and life insurance.

Benefit of a financial plan यानी ( वित्तीय योजना के लाभ)

    1. A financial plan involves a thorough examination of your income and expenses.

    1. Every time your person here can improve your understanding of the situation

    1. It can set important short and long term financial goals

    1. It can keep you person from suffering and away from troubles and can reduce the stress and anxiety you have experienced in the past.

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