MANAGEMENT

Detailed explanation-1: -Ensuring excess availability of funds at the right time is not an objective of financial planning.

Detailed explanation-2: -It’s not a financial goal till you can afford to save for it. Think about it. Unless you can save a set minimum amount (depending on where the amount is invested) that will realistically get you to the goal, it can’t be called a financial goal. Just like your expenses, financial goals should also be “affordable”.

Detailed explanation-3: -Financial goals comprise earning, saving, investing and spending in proportions that match your short-term, medium-term or long-term plans.