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
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…
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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…
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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…
5 min read
Why Should You Only Work with a SEBI Registered Investment Advisor?
When it comes to making financial decisions, selecting the right professional to guide you is crucial.…
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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…
6 min read
Fund Manager vs. Wealth Manager vs. Financial Planner: Who They Are and Who You Really Need
India’s economy is growing fast. The average income is rising, but most people still don’t know…
2 min read
60% of Urban Indian’s Financial Goals are Being Crushed By Unexpected Expenses
“Hold fast to dreams, for if dreams die, life is a broken-winged bird that cannot fly.”…
5 min read
What is the Role of a Financial Advisor in Your Life?
“There is no such thing as a self-made man. You will reach your goals only with…
3 min read
The Role of a Financial Advisor in Retirement Planning
By the textbook definition, ‘retirement’ is a stage in life when a person decides to quit…
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…
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Mutual Fund Taxation in India (FY 2024-25): What Investors Need to Know
Mutual funds continue to be one of the most popular investment options for individuals and institutions…
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.
