Page 20 - DMGT515_PERSONAL_FINANCIAL_PLANNING

Unit 1: Basics of Personal Financial Planning

3. Discuss the benefits of personal financial planning. Notes
4. List down the major advantages of personal financial planning.
5. What are the various steps involved in personal financial planning?
6. Define “Financial Planner”. What are the functions of a financial planner?

7. What is a Financial Plan? Who can formulate a financial plan?
8. What are the inputs and output of a financial planning process?
9. “It is always better to hire a financial planner or advisor for managing your finances.”
Discuss.
10. What are the objectives behind hiring a financial planner?
11. What are the characteristics of good financial plan?

Answers: Self Assessment

1. Certified Financial Planner 2. Economic satisfaction

3. Personal financial plan 4. your appetite for risk.
5. Financial planning 6. True
7. False 8. False

1.10 Further Readings

Books Chandra, P. Financial Management - Theory and Practice, New Delhi, Tata McGraw-
Hill Publishing Company Ltd., 2002, p. 3.
Sudhindra Bhat, Financial Management, New Delhi, Excel Books, 2008
Van Horne, J.C. and Wachowicz, Jr, J.M., Fundamentals of Financial Management,
New Delhi, Prentice Hall of India Pvt. Ltd., 1996. p. 2.

Online link http://www.fei.org/

LOVELY PROFESSIONAL UNIVERSITY 15