Every individual aspires to become financially independent in their lives. Personal finance is that part of one’s strategy which will give one much-needed light in the journey to being rich. The mantra of personal finance begins right in childhood when you get pocket money to meet your expenses but some of us as smart kids used to save some amount for a later date so that we can buy a new cricket ball or bat or go to our favourite restaurant. In simple words, this is where we unknowingly start to manage our finances. We grow in body, mind, education and keep on sharpening our various skills like science, mathematics, sports, etc but it is a sad aspect for our education system that doesn’t teach us personal finance or in other words- financial planning. As a result, when we complete educations and take up a job, we are suddenly faced with a large sum of money and a bigger duty to manage our lives in a fixed salary at the end of every month. Initially, this does not seem like a task but this is a task, a big task.! Those who understand in the beginning would go on to create wealth and become rich early in their life and attain financial freedom which is very important for a peaceful life. Those who don’t agree with it might very well become broke and ultimately remain poor for a big part of their lives as they are most likely to follow a lifestyle of spending more & saving less. In the worst case, they may also get into a debt trap which has led many people to life-threatening points. Hence, we can not afford to not pay attention to financial planning. Now, what is financial planning & how are we supposed to go about it? It is as simple as understanding yourself. You need to know what are your aspirations in life, what are your needs, and what are your wants. You should make a clear-cut plan of how you want to get ahead in your life with your finances. Robert Kiyosaki has written in his book Rich Dad Poor Dad – “ We don’t become rich by spending more, we become rich by keeping more. Rich people buy assets, poor & middle-class people buy liabilities which they think are assets.” These are one of the greatest words of wisdom, I have come across. Financial planning means differentiating between assets that give return and assets that give liabilities. It also means restricting yourself from creating liabilities beyond your abilities to repay. Any time is a good time to start planning your finances. Even if you have lost many years since your first paycheck, it is truly advisable to start it now, start it right away. In case, you have yet not contacted a qualified financial planner, you must think about it and do yourself this favour which will help you become rich.