A study on awareness of financial planning among professionals in Bangalore city

Financial Planning is the process of meeting life goals through proper management of finances. Financial planning is a process that a person goes through to find out where they are now (financially), determine where they want to be in the future, and what they are going to do to get there. Financial Planning provides direction and meaning to persons financial decisions. It allows understanding of how each financial decision a person makes affects other areas of their finances. The design of the study is descriptive research method. In addition both qualitative and quantitative methods were applied in data collection and analysis. The descriptive design is found to be suitable because it addresses major objectives and research questions proposed in the study adequately. The aim of this study was to find out To study changes in financial planning with change in age,Analyse the investment habits & to examine the factors influencing the investment decision. The results of the study indicated Earlier trend of saving was in terms of physical assets but it has started to shift now to financial instruments. Majority of the professionals are risk averse they do not want to take risk with their hard earned money, risk taking ability largely depend on the present financial situation and future flow of income rather than the age. The level of awareness about financial planning is good in doctors and professors than the lawyers and engineers . Therefore, it can be concluded that financial planning has an effect on the financial performance.