Financial Goal planning refers to setting financial goals and developing plans to achieve them. Financial goals such as children’s marriage, buying a house, or a car are high-value goals. You must plan and invest your money to achieve these goals over a longer period of time. Financial goal planning helps you decide where to put your money. You can select the best investments based on your risk appetite and stay on track to achieve your financial goals.
Financial goal planning helps you to get more organised with your money. For example, you would have to cut down on excessive spending to achieve a financial goal such as saving for your children’s higher education.