1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
5 min read
Comprehensive Guide to Exchange-Traded Funds (ETFs): What You Need to Know
Exchange-Traded Funds (ETFs) have become increasingly popular investment vehicles in recent years, offering a hybrid between…
4 min read
Why It Helps to Know Your Investment Horizon
The investment horizon — sometimes called the investor’s time horizon — is a fairly simple concept.…
3 min read
What is a Financial Planning Centre?
Your financial future is a vital part of your life. It encompasses your dreams, your security,…
5 min read
Understanding Tax benefits of owning 2nd home
Homeownership is always a matter of pride, specifically in the Indian context where family traditions have…
4 min read
What It Takes for Successful Retirement Planning?
Retirement planning is not just a financial necessity; it is a fundamental aspect of securing your…
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
3 Things to Consider Before You Rush Into Investments
Investing is often seen as a gateway to financial growth and freedom. The promise of multiplying…
3 min read
Fund Transfer Mechanisms in P2P Lending Platforms
Central to the functioning of P2P lending platforms is the seamless transfer of funds between lenders…
3 min read
Manual vs. Automatic Lending in India’s P2P Lending Market
Peer-to-Peer (P2P) lending is gaining significant traction in India, offering a unique opportunity for both borrowers…
3 min read
What is Lifestyle Inflation?
Ramesh Rao, a 60-year-old retired IT professional, lives in Bengaluru with his wife, Meera. Their children,…
4 min read
Understanding Personal Inflation Rate: The Ultimate Guide
Gain comprehensive insights into calculating and comprehending your personal inflation rate in India with this ultimate…
4 min read
Closing a Loan: Key Things to Keep in Mind
When it comes to personal finance, loans are often a necessity for major purchases or investments,…
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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.
