( Excerpts of the article of the same title written by Larissa Josephine C. Villa, Researcher of the Business World, from an Interview of Mr. Jose L. Cuisia, Jr . The article was published in a Special Supplement published by the Business World on June 21, 2005. )
Financial planning is the process of meeting one’s life goals through the proper management of finances. Life goals, which usually involve necessities of life, can include buying a home, saving for child’s education, planning for retirement or estate planning.
Undoubtedly, financial planning provides direction and meaning to one’s financial decisions. It allows anyone to understand how each financial decision affects other areas of his finances.