Personal Finance
4 min read
Without a Home of My Own
Early in our lives, my husband and I had decided one thing: we would not live…
3 min read
How Emotional Investing Triggers Bad Financial Decisions
Traditional financial theory assumes that investors with access to complete market information make decisions based on…
3 min read
How Our Memories Shape the Way We Think about Money
The world as we know it as adults is often viewed through the prism of our…
3 min read
Who Do You Trust to Give You Financial Advice?
It appears that everyone is talking about personal finance — watching ads during a cricket game…
4 min read
Why We’re Bad at Sticking to a Budget
It’s almost the end of the month and your credit card bill lands in your inbox.…
4 min read
Saved Money, Will Travel
The Irish call it a Claddagh ring. It’s a pretty ring: two hands clasping a heart,…
3 min read
Liabilities: Overlooked, Misunderstood, and Mismanaged
What comes to mind when you think about liabilities? Is it visions of overdue bills, crushing…
3 min read
Does Movement on the Stock Market Make Us Anxious?
There’s a scene in The Wolf of Wall Street where Matthew McConaughey’s character gives Leonardo DiCaprio’s…
Discover your MoneySign®
Identify the personality traits and behavioural patterns that shape your financial choices.
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.
