Q7 “Financial planning is an ongoing process, providing direction for achieving your goals through proper management of your financial situation. It takes a holistic view of your lifestyle, your needs...

Q7 “Financial planning is an ongoing process, providing direction for achieving your goals
through proper management of your financial situation. It takes a holistic view of your
lifestyle, your needs and your priorities. A financial plan is a tool to analyze your financial
situation and provide projections that can assist you in understanding your true situation and
whether you can achieve your goals”. Discuss the significance of financial planning and also
discuss about Bhartiya Model of Financial Planning?