Personal Financial Planning is a systematic approach whereby an individual maximizes the existing financial resources through proper management of one's finances to best achieve his/her financial goals and objectives.
Financial planners are responsible for organizing the individual's finances, analyzing their credit and assets, and making recommendations on different savings and investment accounts. Personal financial planners are hired to assist individuals in organizing their financial accounts, developing an investment strategy and reviewing assets and liabilities to create a personal financial statement. Financial planners can also provide advice and guidance for estate planning, drafting a will, and setting up new checking and savings accounts for an individual and their families. They may also help with finding and selecting insurance premiums; creating a debt management plan; or provide assistance in financial planning for significant life changes such as marriage, or going to college.
