Financial planning for families is not an easy task. There are many expenses to take care of and it takes a lot of effort. You also have other things like retirement planning, college tuition fees and loan payments. It is a fact that Parents are delaying retirement to see their kids through university. However, a little bit of care and goal setting can make financial planning for families a bit easier. First of all, you will need to think about the future financial needs in a very realistic manner. For example, you should be ready with a corpus amount for your child when he/she is ready for college. Another factor to look out for is the financial areas in which you are vulnerable. If you have a family history of cancer, then taking a family cover for critical illness is suggested. In spite of all the planning, there will be emergencies which you cannot foresee. For such emergencies, you should allocate an emergency fund. Planning in such manner means that, you will hedge against risk and never be in a precarious situation. This will take you family forward in life. After all, finances are the core to all things in the modern day.