Financial planning is the process of creating a comprehensive strategy to manage an individual’s or family’s financial resources in order to achieve specific life goals and objectives. This involves evaluating current financial situations, setting short-term and long-term financial goals, and developing a plan to reach those goals through budgeting, savings, investments, and risk management. Financial planning typically considers various aspects, including income, expenses, debt management, retirement savings, tax strategies, and estate planning. It aims to ensure that individuals can meet their financial needs and make informed decisions about their money over time. Effective financial planning helps individuals allocate their resources wisely, prepare for unexpected financial challenges, and work towards financial independence and security.
Investors worldwide brace themselves for a flurry of dividend payments as the end of August approaches. Missing out on potential earnings is a risk as key companies set looming ex-dividend…