Personal Finance
4 min read
How To Master Financial Planning During Major Life Stages
Life’s transitions are pivotal moments that shape our journey, affecting both our financial well-being and emotional…
5 min read
5 Horsemen of Solid Personal Financial Planning
Throughout history one question has been consistently pondered upon- what constitutes a well-lived life? While the…
4 min read
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…
3 min read
Here’s the Impact Buying a Home Has on Your Financial Health
Buying a home is the biggest and probably the costliest financial decision we make in our…
4 min read
Rights of Banking Consumers and how they can raise their concerns
In the month of October, 2023, the Reserve Bank of India (RBI) penalised two of the…
3 min read
PPF pre-mature withdrawal rules eased. Depositors to pay lesser penalty on pre-mature withdrawal
The Public Provident Fund (PPF) is a mainstay of long-term investment in India. There are several…
6 min read
The Role of Emotional and Cognitive Shortcuts in Financial Decision-Making
Discover how emotional and cognitive shortcuts impact your financial decisions, and learn to navigate them for…
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…
5 min read
How to Secure Your Family’s Future with Succession Planning?
Secure your family's legacy and peace of mind through effective succession planning.
4 min read
Financial Well-Being for Kids & Teens: A Teaching Guide
Empower future generations with financial literacy through this essential guide to teaching kids and teens about…
4 min read
“Benefits of Financial Well-Being for Businesses & Employees: A Guide”
Unlock the advantages of prioritizing financial well-being for both businesses and employees with this comprehensive guide.
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…
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.
