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4 min read
What is Financial Personality?
When it comes to managing money, everyone approaches financial decisions differently. Whether you’re a meticulous planner,…
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…
3 min read
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…
4 min read
The Weight of Money On Your Mind: How Finances Affect Your Well-being
Money is known to be the great enabler that puts the life you desire within reach.…
4 min read
Investing in Mutual Funds vs. Stocks: Which is Right for You?
The world of investing can seem daunting, especially for beginners. Deciding between mutual funds vs. stocks…
4 min read
SEBI’s Mutual Fund Categorisation Guide That Every Investors Should Understand
In 2017, the Securities and Exchange Board of India (SEBI) introduced new guidelines to categorise and…
3 min read
10 Best Tax-Friendly Habits to Adopt for a Sound Financial Future
Navigate India's complex financial landscape with our ten tax-friendly habits, setting the stage for wealth preservation,…
4 min read
7 Key Factors That Affect Your Term Insurance Premium
Term insurance is a vital component of a sound financial plan. It provides financial security to…
3 min read
A Comprehensive Guide to Personal Liability Protection for Safeguarding Your Assets
This post provides insights into personal liability, outlining strategies and real-life examples to secure your assets.
The Financial Realities of the Soft Life
The daily grind. The hustle culture. The nine to five. Like what you're reading? Get our…
9 min read
5 Key Retirement Planning Strategies for Every Age
Whether you're just starting your career or nearing retirement age, this article outlines 5...
7 min read
Capital Gains on Sale of Property: What Homeowners Need to Know
In India, we love to buy properties, and often these purchases are partly funded by the…
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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.
