Cash Flow ManagementCash flow management is a very important aspect of financial planning. It is a vital component of the financial planning process. financial planners before making a comprehensive plan for their clients ask them about their income and expenditure. This cash flow analysis alone can be a wake-up call as many people are aware of their income but few track their expenditures. This results in people having a wrong impression of having more money than there really is, resulting in some missed opportunities for savings and investing. A financial planner tries to keep a track of their client’s savings so that financial goals are met by creating financial resources by investing in savings.
Insurance PlanningInsurance planning provides that major risks for the clients are covered. Insurance covers only financial loss which is caused by various risks. As part of this, the planner needs to plan for:
- Life Insurance cover
- Medical Insurance cover
- Disability Insurance cover
- General insurance cover