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4 min read
Understanding the difference between short-term and long-term capital gains in India
Understanding short-term and long-term capital gains is crucial for complying with tax laws and filing your…
6 min read
5 Best Mid-Range Travel Credit Cards with Rewards and Airport Lounge Access for 2025
Travel whether for work, weekend breaks, or visiting family, has become a bigger part of our…
5 min read
How to Choose a Financial Advisor in India
Choosing a financial advisor is a difficult task. A right financial advisor can set your finances…
5 min read
How to File Income Tax Offline ?
Taxpayers have multiple options to file their taxes, such as through paper returns or electronically. Electronically,…
4 min read
How to invest in the US stock market from India
They say diversification is the only free lunch in investing. We all understand the importance of…
7 min read
How to Save for a House: Mastering the Art of Saving
So, you’re all set to embark on the exciting journey of buying your dream home, huh?…
4 min read
What is Financial Personality?
When it comes to managing money, everyone approaches financial decisions differently. Whether you’re a meticulous planner,…
4 min read
Liquid Funds Offer Better Returns than Bank Savings Accounts: Know All About Liquid Funds
When it comes to mutual fund investments, we often think that equity-oriented funds are our only…
5 min read
How Much Return Can You Expect from IPOs? An Average IPO Massively Underperforms Nifty 50 Returns, Shows Research
How have the IPOs historically performed for investors who bought at the offer price and held…
4 min read
Where to Invest Your Monthly Surplus?
There are times when you have some additional money every month and you may not be…
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…
5 min read
Belated Return or Revision : Your Last Chance to File or Revise ITR for the Year 2022-23
When discussing personal finance, one topic we can’t overlook is income tax filing—an annual ritual where…
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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.
