Personal Finance
4 min read
Leveraging Derivatives for Personal Wealth Management – Pros and Cons
Leverage allows traders to amplify their exposure to an underlying asset without needing to commit the…
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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…
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Why Financial Planning Is the Key to Unlocking Your Peace of Mind: Here’s How
In today’s fast-paced and ever-changing world, achieving peace of mind can feel like an elusive goal.…
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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.…
4 min read
Six Myths Around Women and Money
Each year, March month becomes a whole month of celebration for women in every field. Being…
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?…
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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 Can You Be Financially Ready for the Arrival of a Child?
The arrival of a child is one of the most significant milestones in life, bringing immense…
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5 Horsemen of Solid Personal Financial Planning
Throughout history one question has been consistently pondered upon- what constitutes a well-lived life? While the…
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5 Signs It’s Time to Refinance Your Loan
Financial responsibilities come in many forms, and loans are a common part of life for many…
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The Weight of Money On Your Mind: How Finances Affect Your Well-being
Money is known to be the great enabler that puts the life you desire within reach.…
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4 Biggest Disadvantages Of Not Having A Financial Advisor
It is heartening to know that lately more and more people are becoming genuinely concerned about…
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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.
