Personal Finance
5 min read
Who is a SEBI Registered Investment Advisor?
Imagine you’re feeling unwell—you’d go to a doctor, right? Or if your car breaks down, you’d…
5 min read
5 Key Steps to Plan a Financially Secure Life
In a world of constant change and uncertainty, achieving financial security is a common aspiration for…
5 min read
Financial Well-Being vs. Financial Wellness: What’s the Difference?
Financial Well-Being focuses on long-term financial stability, while Financial Wellness emphasizes immediate financial health and day-to-day…
5 min read
Introduction to Behavioural Finance: Decoding the Psychology of Financial Decision-Making
Behavioral finance explores how psychology and biases impact financial decision-making.
3 min read
How Not to Plan Your Finances: Common Pitfalls to Avoid
Financial planning is a cornerstone of achieving long-term financial security and stability. However, not all financial…
3 min read
Documents Required for Surrendering a Life Insurance Policy
Surrendering a life insurance policy with the Life Insurance Corporation (LIC) of India involves a structured…
8 min read
What are the Pros and Cons of Loan Refinancing?
Unlock the intricacies of loan refinancing in India to make well-informed financial choices with our comprehensive…
8 min read
How to Invest in ETF in India: A Comprehensive Guide
Exchange Traded Funds (ETFs) are quickly becoming one of the most popular investment choices in India,…
3 min read
Don’t Start 2025 Without Answering These 5 Financial Questions
The end of the year is a natural time for reflection and planning. We think about…
3 min read
Optimise Your Investments with the Mutual Fund Portfolio Overlap Tool
Investing in mutual funds is a popular strategy for diversifying one’s portfolio and achieving financial goals.…
7 min read
How to Save for a House: Mastering the Art of Saving
So, you’re all set to embark on the exciting journey of buying your dream home, huh?…
3 min read
What Are Top Financial Challenges India’s Face in Today’s World?
Financial security has become a common concern for many in a world where economic uncertainty is…
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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.
