What is financial planning and its type?
Three main types of financial plans are cash flow plan, investment plan and insurance plan.
What is meant by financial planning?
Financial planning is the task of determining how a business will afford to achieve its strategic goals and objectives. Usually, a company creates a Financial Plan immediately after the vision and objectives have been set.
What is the need of financial planning and what are the requirements of it?
The importance of financial planning helps investors achieve their financial goals e.g. home purchase, children's higher education, children's marriage, retirement planning, estate planning etc. and long term financial security.
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