Financial planning is the process of organizing income, expenses, and investments to ensure long-term security and stability. By calculating expenses, saving for the future, and preparing for unexpected events, individuals can create a balanced approach to meeting both current needs and retirement goals. Key benefits of financial planning include readiness for emergencies, enhanced control over spending, and a clear path toward financial goals. Effective planning provides peace of mind, helps avoid debt, and allows individuals to enjoy the rewards of their hard work in retirement without financial stress.

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