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5 min read
How to File Income Tax Return Online Using Form 16?
Introduction If you are new to filing your own ITR request, chances are that you have…
2 min read
New Income Tax Slabs, Rates After Budget 2025 But Don’t Calculate Your Taxes Based On Them While Filing ITR In FY24-25
Finance Minister Nirmala Sitharaman unveiled the Union Budget 2025-26 on February 1,2025 introducing a revised income…
4 min read
Home loan interest rate cut: Reduce EMI or home loan tenure, which option will save you more?
Since the recent repo rate cut of 50 basis points by the RBI, several banks have…
6 min read
RBI Cuts Repo Rate by 25 Basis Points to 6.25%: How Will This Impact Your Personal Finance?
The Reserve Bank of India (RBI) uses the repo rate to regulate the flow of money…
3 min read
Retirement Funds or Equity Funds: What’s better?
Planning for a secure and comfortable retirement is a crucial financial goal for most people. With…
3 min read
Understanding Per Capita Income: How It’s Calculated and What It Indicates
This article explores the concept of Per Capita Income, its calculation, and its significance in assessing…
2 min read
60% of Urban Indian’s Financial Goals are Being Crushed By Unexpected Expenses
“Hold fast to dreams, for if dreams die, life is a broken-winged bird that cannot fly.”…
5 min read
Investing in unlisted shares? Here are the risks that every retail investors should know about
Unlisted shares are tempting, but investing in them is full of risk and danger.
5 min read
The Consequences of Not Filing Income Tax Returns (ITR)
This blog highlights the importance and consequences of timely Income Tax Return (ITR) filing, focusing on…
4 min read
4 Biggest Disadvantages Of Not Having A Financial Advisor
It is heartening to know that lately more and more people are becoming genuinely concerned about…
2 min read
Organise Your Financial Documents with DocuLocker!
Let’s be honest—managing financial documents can feel overwhelming. Tax returns in one folder, insurance papers in…
3 min read
What is 100 minus age asset allocation strategy?
Financial advisors often treat asset allocation as the cornerstone of any solid investment strategy. While it…
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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.
