Personal Finance
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…
4 min read
The Benefits of Financial Well-Being for Businesses and Employees in India: A Comprehensive Guide
Explore the mutual benefits of financial well-being for businesses and employees in India, from increased productivity…
4 min read
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…
4 min read
Why HRs Must Address Employee Financial Wellbeing Now
The burden of financial stress weighs heavily on many employees, impacting their financial wellbeing. This persistent…
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…
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…
5 min read
Family, Finance, and the Future: Your Roadmap to Inheritance Planning
Navigate the intricate intersection of family dynamics, financial legacy, and future planning with our expert guidance.
3 min read
Increasing Contribution Calculator: How Annual Investment Increases Affect Wealth Accumulation Over Time
When it comes to wealth accumulation, consistently increasing your investment contributions can have a significant impact.…
3 min read
Understanding Trusts: A Comprehensive Guide to Managing Your Assets
Disclaimer: Formation of a trust and transfer of property into the same should not be done…
3 min read
Why Should You Evaluate Your Existing Portfolio Before Making a New Investment?
More often than not, I have received calls from investors asking me to add a new…
3 min read
Protecting Yourself from Personal Loan Scams: A Detailed Insight into Recognizing and Avoiding Fraud
This blog explores the surge in loan fraud in India, leading to massive losses, and offers…
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…
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.
