Financial plans and budgets can help you to be financially successful now and in the future. Effective financial management is an ongoing process that features a cycle of good management habits. When you're building a financial plan, one of your first steps should be to build a basic household budget. Budgeting and financial forecasting are financial planning techniques that help business personnel in the decision-making process. Financial planning is the task of determining how a business will afford to achieve its strategic. The Office of Budget and Financial Planning is responsible for managing the preparation and continuous monitoring of the university’s annual operating and capital budgets.