Financial planning is the process of estimating the capital required and the process of framing financial policies in relation to investment and administration of funds of an enterprise.
IMPORTANCE OF FINANCIAL PLANNING -
- It helps in making balance of funds of inflow and outflow so the stability is maintained.
- Financial planning is also one type of future planning.
- Simple to buy.
- Simple to execute.
- Easy to use in daily basis.
- Easy to use in emergency time.