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When people hear the term, financial planning, they often confuse it with investment planning, portfolio management or tax planning. Some are immediately put off, as they simply do not have time to plan. They think of the process as complex and time-consuming; in fact, most believe they should think of a financial plan once they have enough wealth. There are many such myths about financial planning and its important to understand what financial planning really is. Any decision about money impacts your overall finances. In fact, deciding not to invest or not to plan is also a decision. Any decision that you take about money and that has an impact on your overall financial situation is financial planning. The irony is that most people do financial planning unknowingly and in an unstructured manner, whether it is buying Insurance policies, or stocks, or investing in real estate or taking a loan. These decisions are generally taken in isolation, with no relation to each other, and without considering the impact of one decision on the other. So, why not do it in a structured manner? Financial planning is the process of utilizing your financial resources in the best possible manner to achieve your financial goals. Financial planning is not the same as investment planning or taking advice from a chartered accountant or a banker. Financial planning encompasses several areas of personal finance such as: cash Flow and debt management risk management and Insurance planning asset allocation & investment planning taxation planning retirement planning estate planning (transfer of wealth, Wills, power of attorney and trusts) Leonardo da Vinci said “simplicity is the ultimate sophistication" And this book is an attempt to make financial planning and personal finance simple for everyone.