Personal Finance
2 min read
Organise Your Financial Documents with DocuLocker!
Let’s be honest—managing financial documents can feel overwhelming. Tax returns in one folder, insurance papers in…
4 min read
High time Personal Finance is taught as a subject in school!
We are in constant awe of kids these days being so ‘tech-savvy’ and better than us…
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How to Plan Your Income and Expenses After Marriage?
As you and your spouse bring your lives together, your finances will play a key role…
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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,…
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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…
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How Financial Planning Can Help you?
When it comes to dreaming about a life well lived, personal finance can’t be ignored. Think about…
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What is Lifestyle Inflation?
Ramesh Rao, a 60-year-old retired IT professional, lives in Bengaluru with his wife, Meera. Their children,…
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What is a Financial Planning Centre?
Your financial future is a vital part of your life. It encompasses your dreams, your security,…
5 min read
Why Do You Need a Safe Deposit Locker?
There are things you can lose and not care much about. But there are some things…
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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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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…
2 min read
How Will the Budget 2024 Affect Your Gold Investments?
The Union Budget 2024 brings significant changes to the taxation of gold investments, which could impact…
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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.
