Financial planning, in the broadest sense, is an effort to manage all aspects of a person / family’s financial affairs.  Classically, that begins with planning family spending and extends through risk management (insurance), taxes, wealth accumulation, investing, and wealth distribution (retirement and estate planning). You can plan on how to save the money needed to accomplish short, medium and long term personal financial goals, such as buying a home, saving for college education, paying off credit card bills and whatever else the student may want to accomplish.

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