Personal Finance
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
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
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…
4 min read
Key Financial Lessons from History to Protect Your Money in 2025
The global economy has faced multiple financial crises—each one offering valuable lessons. From India’s 1991 Balance…
3 min read
7 Out of 10 Indians Dream of Owning Their a House
Owning a home is a quintessential part of the Indian dream. A recent study reveals that…
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
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…
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
Mastering Tax Season: Essential Preparation for ITR Filing
As the tax filing season approaches, it’s crucial to prepare for filing your Income Tax Return…
3 min read
Flexi-Cap Funds vs. Sector Funds: Which One Should You Choose?
Investing in mutual funds can be confusing, especially when deciding between flexi-cap funds and sector funds.…
5 min read
Performance of India’s Nifty 50 Constituents in 2024: Last year in Review
2024 has been quite a rollercoaster for India’s stock market. Investors saw big winners and surprising…
5 min read
What is Fund of Funds? Know the Types, Advantages and Disadvantages of FOFs
Investors looking for diversification often come across the term Fund of Funds (FoF). But what is…
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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.
