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6 min read
How to save tax for salary above ₹15 lakh
Earning over ₹15 lakh a year is a significant milestone. It reflects your hard work, dedication,…
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…
2 min read
How to Calculate NPS Returns?
The National Pension System (NPS) is a market-linked retirement savings scheme that allows individuals to accumulate…
4 min read
How to diversify your portfolio in today’s highly volatile market?
Diversification is the practice of spreading your investments around so that your exposure to any one…
4 min read
Top 3 beginner credit cards in 2025: Lifetime-free credit cards with cashbacks, reward points, lounge access, and more
Whether you're looking to build credit or simply want value on everyday spends, these cards keep…
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…
4 min read
Gifts and Their Tax Implications
In India, exchanging gifts is a common way to express love and gratitude within our culture.…
3 min read
The Importance of a Financial Plan Before Taking a Loan
“Debt is a prolific servant but a terrible master.” Like what you're reading? Get our latest,…
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.…
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,…
3 min read
Here’s the Impact Buying a Home Has on Your Financial Health
Buying a home is the biggest and probably the costliest financial decision we make in our…
7 min read
3 best reward credit cards for daily use in 2025
With the right credit card, your everyday transactions can translate into real, high-value benefits—free flight tickets,…
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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.
