What is Financial Planning?

Financial planning  is an essential tool that allows individuals to manage their finances in a more organized, efficient and sustainable way. It involves a set of measures that form a layer of protection for people’s financial health, allowing them to meet basic day-to-day needs and achieve goals and dreams in the medium and long term. 

Here are some important features of financial planning:

• 1. ** Identification of Present and Future Needs **: Financial planning helps you understand current and future needs, allowing you to make informed decisions about how to allocate your resources.

• 2. ** Daily Compass **: Serves as a daily guide to avoid wasting resources and ensure you are on the right path to achieving your goals.

• 3. ** Discipline, Patience and Resilience **: Successful financial planning requires discipline to follow the plan, patience to wait for results and resilience to deal with unforeseen events.

• 4. ** Financial Goals **: Financial planning helps you set clear goals, such as saving for a trip, buying a car or purchasing a property.

• 5. ** Avoid Debts and Stratospheric Interest **: With good planning, you can avoid difficult situations, such as accumulated debts or high interest.

• 6. ** Quality of Life **: By achieving your financial goals, you improve your well-being and quality of life.

Conclusion

Remember that financial planning must be adapted to your personal circumstances, considering your income, expenses, goals and risks. Be organized, stay focused on your goals and seek knowledge to make informed decisions about your finances.