The constant and subtle thought on such important pointers is required for financial planning:

1. Time Period: Financial planning needs to be rigorous and an attempt to meet one's financial responsibilities is an ongoing process, whether it be for the daily needs or an advance preparation for some kind of contingency event such as medical issues. Time and again, it has been warned that salaried-class individuals should park their six-eight months of salary in liquid investment havens that would suffice their financial requirements in case of any exigency such as job loss etc.

Financial dreams signify one's desire to attain some assets in future course of time such as buy a house, car etc. However, preparation for the same has to be done much in advance. And, should be done with the disposable income left after meeting one's financial responsibilities at hand.

2. Interdependent: Financial planning to meet financial responsibilities and financial dreams targets are interdependent. One wrong decision in either of the direction could adversely affect the economic well being of the individual. For instance, without sufficient cash flow at hand,if a person takes a home loan, in the long run he would fail to pay the EMI's for the loan and would also not be able to meet his daily financial responsibilities because of the burden of the loan.

3. Ongoing Effort: Financial responsibilities call for ongoing efforts to meet them. However, for achievement of financial dreams, funds could be accumulated over a period of time.

4. Planning: Planning for any task generally leads to a safe place. Similarly, planning is crucial for financial commitments as well as dreams. The planning for financial dreams needs to be systematic and requires consideration of several financial parameters.

5. Size: Financial responsibilities though are high in number are low in magnitude that is financially less costly whereas the magnitude of financial dreams is usually high.

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