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7 min read
New ITR filing due date: When is the last date to file ITR, belated ITR, revised ITR for FY 2024-25 (AY 2025-26)?
Taxpayers across India are gearing up to file their income tax returns (ITRs) for the financial…
4 min read
Tax Planning Tips for Different Age Groups
Tax planning is an integral aspect of an individual’s personal finance, helping individuals reduce their tax…
3 min read
Common Mistakes to Avoid When Buying Health Insurance in India
Essential health insurance safeguards against high medical expenses, ensuring affordable access to quality healthcare.
8 min read
3 best alternative to HDFC Infinia Credit Card (Metal edition)
While the HDFC Infinia is seen as a powerful credit card, it might be hard to…
5 min read
Income From House Property & Its Taxation
Owning a house is a significant achievement that comes with various tax benefits under the Income…
2 min read
Exploring the Landscape of Altcoins
This blog explores the diverse landscape of altcoins, their various types and practical applications, and their…
4 min read
Equity Markets Vs. Alternative Investments: Unraveling the Mysteries of Superior Returns in India
This blog will explore and contrast investing in India's equity markets and alternative investments, with a…
5 min read
SPIVA Report – Unveiling the Active vs. Passive Debate
The ongoing debate between active and passive funds has become a staple in the financial world.…
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…
3 min read
Navigating Tax Implications of P2P Lending in India
Peer-to-Peer (P2P) lending, also known as social lending, is gaining significant traction in India as a…
4 min read
Unleash the Power of Your Credit Card Benefits
This guide encapsulates strategic credit card use for maximum benefits, focusing on understanding rewards, smart spending,…
5 min read
Things to Consider Before Filing Revised Income Tax Return
Introduction With all the hubbub around filing income tax returns before the 31st of July, 2024,…
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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.
