Financial planning is an on-going and dynamic process and it’s unlikely that your financial condition will remain same throughout your life. You need to assess your financial decisions periodically as changed personal, economic and social factors will require you to alter your decisions to fit into your new situation.
As you progress through the different phases of your life, you financial needs will be reflected and financial process will serve as a tool to let you adjust to these changes. Monitoring your plans will help you prioritize your decisions and make necessary adjustments that will bring your financial needs and goals in line with your current life situation.