Financial planning is the process of setting and achieving financial goals through a systematic approach that includes analysing an individual's or a family's current financial situation, developing strategies to achieve specific financial objectives, and regularly reviewing and adjusting the plan to ensure it remains aligned with changing circumstances and goals.

The process of financial planning typically involves several key steps:

Financial planning is typically conducted by financial planners or financial advisors who have expertise in various aspects of personal finance, and it is tailored to the unique needs, goals, and circumstances of the individual or family seeking financial planning services. A well-designed financial plan can provide a roadmap for achieving financial goals, managing risks, and building long-term financial security.