Everyone does financial planning in their life. It is about how consciously, systematically and effectively they do it. If you make your budget that is part of financial planning. It is important that you should know to make a financial plan that suits you for your economic well being. Think how much time one is spending to generate income, compare it with how much time is spend to mange that income so that it creates wealth for future needs. One may have a vague idea of you financial goals, like your kids education, foreign tour etc, but a plan is essential, like when to achieve it, how much is needed to save for it taking inflation into consideration, available investment avenues and their expected returns etc. This is the crux of financial planning. It is an important life skill. You can find help at website Learnandinvest. Everything around is in financial terms, shunning away from learning the basics or pretend to cover ignorance will do harm. It is worth the time to know something about tax planning, retirement planning, investment planning and insurance planning. If you have any questions in financial planning I can answer them in this forum.