Personal Financial Planning

What is financial planning?
Financial planning is a comprehensive process of designing a budget, adhering to it and thereby maintaining/assisting to maintain a remarkable financial status.
What is Budgeting?
Budget is an itemized summary of probable expenditures and income for the given period of, giving out a systematic plan for meeting expenses.  

Days fly and years roll by. Very soon you become old and retire from official duties. But what is the status of your financial planning for retirement? Commencing your financial planning for retirement at the right time and abiding by the plan is very important for your peaceful retired life.