No one can predict what is going to happen in our future which makes it absolutely necessary to have a strong, sound plan where to put your money. A key component of managing your personal or corporate money is financial planning. Setting financial goals, evaluating your existing financial condition, developing a plan to reach those goals, and routinely reviewing and revising your plan as necessary are all steps in this process. Financial planning acts as a guide for you as you travel along your journey of financial management. Whether it's purchasing a home, setting up money for retirement, covering the cost of education, or establishing a business, financial planning helps you lay out your needs clearly and prioritize your financial goals.