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4 min read
How to Plan Your Income and Expenses After Marriage?
As you and your spouse bring your lives together, your finances will play a key role…
4 min read
National Pension System(NPS): An effective Retirement vehicle
India's NPS is a government-backed retirement scheme with flexibility, tax benefits, and diverse investment options for…
3 min read
Why Investing in Thematic Mutual Funds is Not the Right Strategy
Investing in mutual funds has long been a favored strategy for those seeking diversified exposure to…
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,…
6 min read
Deduction and Exemptions from Income Tax
Tax planning is essential for effectively managing your finances. Income tax laws offer several deductions and…
4 min read
RBI Strengthens Guidelines for P2P Lending Platforms
The Reserve Bank of India (RBI) recently issued a revised circular on August 16, 2024, introducing…
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…
4 min read
Benefit of opting for the New Tax Regime
Taxpayers are often confused when it comes to choosing between the new tax regime and the…
3 min read
Are Cryptocurrencies Taxed in India? Understand the Rates, TDS and How to Calculate Tax on Crypto in India
Cryptocurrencies have gained popularity as a new form of digital asset due to their decentralised and…
7 min read
Top 5 lifetime free credit cards in 2025: Find credit cards with zero annual fee
If you want a credit card that gives you rewards without charging any yearly fee, this…
3 min read
Does NPS Come Under 80C Deductions? What are Tax Application on NPS
One of the key benefits of investing in the National Pension System (NPS) is its tax-saving…
4 min read
Home Loan EMI vs. Renting: Which is the Better Choice?
If you’re in your 30s or early 40s, you might have been pondering whether it’s better…
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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.
