#  >  > Business, Marketing, Advertising, Finance >  >  > Business Management & Administration >  >  > Finance >  >  How to create our own financial plan?

## Bhavya

Written Financial plans are organized strategies for maintaining financial health and financial goals. Maintaining a financial plan help us to control our financial situation. 
It can enhance our life quality by reducing the money-related problems and future needs. maintaining our own financial plan is a good practice.


Can someone tell me what are the process to develop a personal financial plan?

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## Moana

> Written Financial plans are organized strategies for maintaining financial health and financial goals. Maintaining a financial plan help us to control our financial situation. 
> It can enhance our life quality by reducing the money-related problems and future needs. maintaining our own financial plan is a good practice.
> 
> 
> Can someone tell me what are the process to develop a personal financial plan?


Yes, if you're dealing with a company (public or private) then you should probably maintain financial statements such as balance sheet, cash flow statement, financial statement position and a budget, of course, these are the main statements that are followed by every company. A so-called must even!
If it's for personal then you should probably maintain a trial balance which shows your Debit and Credit of the particular year you assume.

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## Bhavya

> Yes, if you're dealing with a company (public or private) then you should probably maintain financial statements such as balance sheet, cash flow statement, financial statement position and a budget, of course, these are the main statements that are followed by every company. A so-called must even!
> If it's for personal then you should probably maintain a trial balance which shows your Debit and Credit of the particular year you assume.


Thank you for this detail explanation. Can you give me a brief explanation of the trial balance?

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