1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
4 min read
Rights of Banking Consumers and how they can raise their concerns
In the month of October, 2023, the Reserve Bank of India (RBI) penalised two of the…
4 min read
Understanding Hybrid Mutual Funds: Exploring Types and Benefits
Explore the versatility of Hybrid Mutual Funds, from their diverse categories to the benefits they bring…
What Are Financial Advisors Planning For?
All of us have financial goals that we’re working towards — and they’re usually incredibly personal. Our…
5 min read
How to Report Capital Gains Correctly in Your ITR
Filing your ITR seems complicated especially when you have income from capital gains. However, with a…
6 min read
How to File Income Tax Returns for Previous Years?
Introduction Did you miss filing your ITR last year or the year before? If the answer…
3 min read
Why Should You Evaluate Your Existing Portfolio Before Making a New Investment?
More often than not, I have received calls from investors asking me to add a new…
How Do You Ask for the Raise You Deserve?
It’s easy to fall into a financial rut in any profession – but especially so in…
2 min read
From Clay Tablets to Plastic: The Evolutionary Journey of Credit Cards
This blog post traces the evolution of credit cards from ancient civilizations to the modern-day plastic…
3 min read
Understanding Trusts: A Comprehensive Guide to Managing Your Assets
Disclaimer: Formation of a trust and transfer of property into the same should not be done…
3 min read
Mitigating Liability Risks: Strategies for Individuals and Families
This post details strategies and examples on managing liability risks and protecting assets, emphasizing the role…
9 min read
Decoding Taxation on Capital Gains
Gain insights into the intricacies of capital gains taxation and navigate the complexities of maximizing financial…
4 min read
The Importance of Will Drafting: A Crucial Step Towards Financial Prudence
Understand the significance of will drafting as an essential measure towards achieving financial prudence.
Discover your MoneySign®
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.
