CASE STUDY ON PLANNING FINANCE

ABSTRACT
A financial plan is a comprehensive evaluation of an individual's current
pay and future financial state by using current known variables to predict
future income, asset values and withdrawal plans. This often includes
a budget which organizes an individual's finances and sometimes
includes a series of steps or specific goals for spending and saving in
the future. This plan allocates future income to various types
of expenses, such as rent or utilities, and also reserves some income for
short-term and long-term savings. A financial plan is sometimes referred
to as an investment plan, but in personal finance, a financial plan can
focus on other specific areas such as risk management, estates, college,
or retirement.

INTRODUCITON

Financial planning is the practice of putting together a plan for your

future, specifically around how you will manage your finances and
prepare for all of the potential costs and issues that may arise. The
process involves evaluating your current financial situation, identifying
your goals and then developing and implementing relevant
recommendations.

Financial planning is holistic and broad, and it can encompass a variety

of services, which we detail below. Rather than focusing on a single
aspect of your finances, it views clients as real people with a variety of
goals and responsibilities. It then addresses a number of financial
realities to figure out how to best enable people to make the most of their
lives.

Financial planning is not the same as asset management. Asset

management generally refers to managing investments for a client. This
includes choosing the stocks, bonds, mutual funds and other
investments in which a client should invest their money.

However, the same professionals who offer asset management services

can also offer financial planning. A financial planner is effectively one
type of financial advisor. Advisors can earn certifications focused on
financial planning, the most notable of which is “certified financial
planner (CFP).”

Importance of financial planning

The importance of personal financial planning in India cannot be ignored. It is not just about
increasing your savings and reducing your expenses. Financial planning is a lot more than that.
This includes achieving your future goals, such as:

1. Wealth Creation.

2. Retirement Plan.

3. Child’s education.

4. Saving tax.

Why Financial planning is crucial?

1. To tackle inflation.

2. To create a contingency fund.

3. Understanding money psychology.

4.

PURPOSE OF PLANNING FINANCE

Finance Planning is nowadays is very important for everyone and it help

you to:

1. Increase you savings

It may be possible to save money without having a financial plan. But it may
not be the most efficient way to go about it. When you create a financial plan,
you get a good deal of insights into your income and expenses. You can track
and cut down your costs consciously. This automatically increases your
savings in the long run.

2. Enjoy a better standards of living

Most people assume that they would have to sacrifice their standard of living if
their monthly bills and EMI repayments are to be addressed. On the contrary,
with a good financial plan, you would not need to compromise your lifestyle. It
is possible to achieve your goals while living in relative comfort.

3. Be prepared for emergencies

Creating an emergency fund is a critical aspect of financial planning. Here,
you need to ensure that you have a fund that is equal to at least 6 months of
your monthly salary. This way, you don’t have to worry about procuring funds
in case of a family emergency or a job loss. The emergency fund can help you
pay for varied expenses on time.
 4. Attain peace of mind
With adequate funds at hand, you can cover your monthly expenses, invest
for your future goals and splurge a little for yourself and your family, without
worry. Financial planning helps you manage your money efficiently and enjoy
peace of mind. Don’t worry if you have not yet reached this stage. If you are
on the path of financial planning, the destination of financial peace is not very
far away.

SOFTWARE USED
POWER BI
Power BI provides cloud-based BI (business intelligence) services, known as "Power
BI Services", along with a desktop based interface, called "Power BI Desktop". It
offers data warehouse capabilities including data preparation, data discovery and
interactive dashboards. 00
.
In March 2016, Microsoft released an additional service called Power BI Embedded
on its Azure cloud platform. One main differentiator of the product is the ability to
load custom visualizations. It also offer you Power Query Editor in which you can
transform your data and remove errors from your data to contains more accurate
information and insights from the dataset.

THINGS WE COVER IN DASHBOARD:

CONCLUSION: