Liability Planning
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Home Loan EMI vs. Renting: Which is the Better Choice?
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The Importance of a Financial Plan Before Taking a Loan
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Home Loan Balance Transfer: Factors To Be Considered
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Navigating Tax Implications of P2P Lending in India
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Maximising Investment Success: The Power of Diversifying Your Portfolio
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Understanding Fixed and Variable Income Investments: Where Does P2P Lending Fit?
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Manual vs. Automatic Lending in India’s P2P Lending Market
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How to Restructure Your Loan: Understating Loan Restructuring
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How to Gradually Minimise Your Principal Amount
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How to Get Out of Debt Trap by Managing Your Finances Well
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Understanding Credit Scores and Their Importance in Personal Loans
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Fund Transfer Mechanisms in P2P Lending Platforms
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Frequently Asked Questions
What is financial planning?
Financial planning is the process of evaluating your current finances and making a plan to map your journey to financial well-being.
It involves looking at all aspects of your financial life - income, savings, debt, investments, etc.
The aim is to understand where you stand today financially and then chart a course to get you where you want to be in the long run.
Financial planning provides direction and structure to your finances. It helps you intentionally move toward financial wellness.
The plan equips you to prepare for expected life events like retirement as well as unexpected events.
In short, financial planning bridges your present circumstances to your desired financial future. It gives you a path to follow.
What are the benefits of working with a financial advisor?
Working with a financial advisor can provide an invaluable perspective on your current situation. With the help of a financial advisor, you can assess your finances holistically - debts, assets, income streams, and more. With this comprehensive understanding, the advisor helps craft strategies tailored to your needs.
A financial plan crafted by a qualified advisor grants you agency over your financial life. It transforms vague anxiety about the future into proactive preparation. With expert guidance, you can map out actionable steps to strengthen your finances over time.
Why is financial planning important?
Financial planning is important because it provides clarity and control over your finances.
Having a financial plan helps you:
- Understand where you stand financially today
- Map out specific steps to improve your financial situation
- Prepare for major life events like marriage, child’s education, retirement etc.
- Budget effectively and evaluate your investment portfolio
- Strategic Tax Planning & Filing
- Manage and reduce debt
- Being financially ready for emergencies
- Creating a will to preserve your legacy
In short, financial planning is essential for financial stability and peace of mind. It gives your finances direction and purpose. With proper planning, you can take charge of your money and build financial security.
