Personal Financial Planning: Perceptional Analysis

Abstract

Personal financial planning (PFP) refers to the management of the finances of an individual, in order to achieve financial goals and security. Present paper aimed to study perception about awareness and knowledge of PFP of salary earners on the basis of demographic variables such as gender, age, education and level of income. Primary data and suitable statistical techniques have been applied to draw findings. The result of the study suggests that approximately forty percent respondents have no idea about PFP, even though 45% respondents don’t consult to professionals for their financial decision. In addition to that majority of the respondents do not keep the records of financial transaction. Because of this, people may fail to take better and efficient financial decisions therefore there is a need to create awareness and literary programmes about personal financial planning.