“To achieve what 1% of the world’s population has (Financial Freedom), you must be willing to do what only 1% dare to do. Hard work and perseverance of highest order.” – Manoj Arora

Are you living paycheck to paycheck & want to break this cycle? 


Do you want to be rich, but don’t know how? 


Do you want to go for vacations but don’t have enough money? 


Are you worried about your future, don’t know where it is going? 


Are you planning to retire early? Are you worried about your kid’s future? 


Personal Financial Planning is the answer to all your questions related to your financial goals & money. 

Why Personal Financial Planning is so important?


How Personal Financial Planning will help in achieving my financial goals?


These are the common questions that go through the mind of an individual when he/she listen the words, “Personal Finance” “Personal Financial Management” “Personal Financial Planning” in a true sense all are same. 


In this series of articles, you will know more about Personal Financial Planning and How Personal Financial Planning will help you in achieving your financial goals?


For most of my life, I wasn’t good with money. I made it & spend it. The money comes in & out. 

It’s nearly 8 out of 10 people live paycheck to paycheck. I am guessing that you can relate as well.

I was one of those 8 people, started working in 2016 after graduating as Mechanical Engineer. When I got my first salary in July’2016. It was an awesome moment. 


First time I felt so much responsible, I had a lot of plans. Within 2-3 days, I spent almost 90% of my salary on gifts for family, party with friends, movies etc.


Then one of my friend suggested me to save the remaining money for future. But when I looked into my salary account, I found there only 800 rupees which were not much in my opinion.


So I decided to save money from the next salary and spent those 800 rupees for movie with my friends.


In the next month, when salary credited, I bought a new Redmi Phone for myself on EMI. This was my debt and then this series of debt started. 


The commitment to myself to save money from next salary continued as “I will save money from next month” but that never happened until I started exploring about how money works & decided to manage my financial to reach my ultimate goal of financial freedom.


Then I started learning about money, How money works? What is Personal Financial Management? How Personal Financial Planning will help in achieving my financial goals?


Personal Financial Planning is very critical to achieve your financial goals because without a proper plan, you will spend your entire life slaving for money, always in debt.


This is bad enough, but the issue goes far deeper when your children watch you as parents slaving for money, always owing more than you earn from hard work, the children usually repeat this behaviour as an adult.


Personal Financial Planning is very important because, without it, your generation will most likely continue to live as slaves to money and unfulfilling lives.


Everyone wants to be rich. Whether you are earning 10K, 20K, 100K or 200K, it doesn’t necessary that you will be rich. This will be defined by your financial planning. 

Through this series of articles, I will share my learning with you about financial planning so that you will end up becoming rich in the long term.


Some people can do this (Personal Financial Planning) themselves (or so they believe), few consult a financial adviser to do this planning or prepare a map for them.


However, I am not a fan of approaching a financial adviser for this. You should be able to chart a plan for yourself and your family because you know, what is good for you & your family and what is not? What are their requirements or needs?


Your financial adviser is most likely eager to sell you a financial product that will earn him a good return. He will do the same for you and other clients, he may have.


Ultimately, everything is on your shoulder to secure the future of yourself and your family. 


Financial Planning is not rocket science. Only a little knowledge and a lot of discipline are required to secure your future and achieve your financial goals.


Personal Finance, Personal Financial Management or Personal Financial Planning is the process of planning & managing personal financial activities effectively.

It involves the management of personal financial resources by budgeting, planning, saving and spending of monetary resources over time taking into account various financial risks and future life events. 

It is also a process of determining ways to earn, save and spend money & the amount you need to earn, invest and spend.

It takes into account all the income sources, expanses, debts, savings, investments and protection required to live a secure life.


Managing finances is not an easy task. It is an elaborate process and can be successfully implemented over time. It requires patience and discipline and a tab on money spending pattern.


It all depends on your income, spending, living requirements, individual goals & desires and coming up with a plan to fulfill those needs within your financial constraints.


The personal financial planning is done keeping in mind the two main life events i.e. present & future.


Personal financial management or planning is very critical because, without it, you & your generation will most likely continue to live as slaves to money and unfulfilling lives.


Planning your finances is not rocket science, it’s just discipline that makes all the difference. Sound financial planning results in a hassle-free life today and a peaceful tomorrow. 

In the following articles, I will explain, “How will personal financial management help you in achieving your financial goals?” “What are the major benefits of personal financial planning?”

“It’s not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for.” – Robert Kiyosaki

Deepak Sharma

Hi! I’m Deepak Sharma, a Mechanical Engineering Graduate who finds his passion in blogging with a thought in mind for financial freedom. After working in the industry for almost 3+ years, I find my interest in finance. I started this blog to share my learning with those who shares the same dreams of financial independence and follow my passion.

This Post Has 6 Comments

  1. Niranjan

    Hi, i am niranjan kumar this way is important in financial planing .but what is the way of money investment.

    1. Deepak Sharma

      Hello! Niranjan,

      This is not just one article but a series of articles in which I will talk about every aspect of personal finance i.e saving, investment, debt, insaurance etc.
      So wait for upcoming articles and you will come to know, How to invest money in various options? What are the various options actually present for investing?

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