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6 min read
What is HRA? Latest HRA calculation, how to claim HRA exemption for FY 2024-25
The House Rent Allowance (HRA) is an allowance that an employer offers...
4 min read
Will and estate planning: How to smoothly transfer your legacy
Estate planning might sound like something only the high-net-worth individuals or ultra-high-net-worth...
3 min read
Engaging with finance through crosswords
Learning about finance doesn’t have to be dull. It can be engaging,...
3 min read
What is 100 minus age asset allocation strategy?
Financial advisors often treat asset allocation as the cornerstone of any solid...
6 min read
Asset allocation : Why macroeconomics matters
While building a personal finance plan, one of the biggest decisions you’ll...
4 min read
Hedge funds vs. Mutual funds : Know the differences
Hedge funds and mutual funds might look similar at first—they both pool...
4 min read
3 Key Features of Hedge Funds: Selective Access, High Reward, Less Transparency
Hedge funds often come wrapped in a layer of mystery. Whenever you...
4 min read
36 unauthorised bungalows demolished in Pune: Why homebuyers should consult real estate advisors before purchasing property
Imagine building your dream home—putting in all your savings, planning every corner,...
3 min read
Asset Allocation vs. Diversification: Differences and Importance
If you’ve ever explored the world of investing, you’ve likely encountered the...
5 min read
Best Home Loan Lenders in India 2025
In India, buying a home is a dream for all, but it...
7 min read
Top 5 lifetime free credit cards in 2025: Find credit cards with zero annual fee
If you want a credit card that gives you rewards without charging...
6 min read
ITR filing for FY 2024-25: What is income tax return filing, who needs to file ITR, and what are the benefits of filing ITR?
Understanding the basics of ITR is essential. What is income tax return?...
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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.
