1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
The WazirX Hack: A Detailed Account and Response Measures
On July 18, 2024, the Indian crypto exchange WazirX faced one of the most significant security…
3 min read
Transparency and Accountability in Peer-to-Peer Lending: The Role of NBFC-P2Ps
Peer-to-Peer (P2P) lending has emerged as a popular alternative to traditional banking, offering individuals and businesses…
3 min read
Top 5 Tax-Saving ELSS Mutual Funds in February 2025
Are you looking for ways to reduce your taxes? We often tend to buy random investment…
3 min read
Decoding Economic Trends: What They Mean for Your Personal Finances
Uncover the impact of economic trends on your personal finance and harness this knowledge for informed,…
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…
4 min read
The Importance of Emergency Funds and How to Build One
In the world of personal finance, there’s one piece of advice that financial experts agree on…
3 min read
Planning to pause your SIP during a market crash? Think again!
While systematic investment plans (SIPs) continue to be one of the best ways to grow wealth…
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…
3 min read
Maximising Investment Success: The Power of Diversifying Your Portfolio
Investing involves making strategic decisions to achieve your financial goals while managing risk. One of the…
2 min read
AMFI Unveils Three Game-Changing Initiatives to Make Mutual Fund Investing More Accessible
The Association of Mutual Funds in India (AMFI) has rolled out three new initiatives—Chhoti SIP, Tarun…
A Cheeky Look into Everyone’s Festive Spending
Buy a box of 24 carat gold-leaf mithai. The guilt won’t be about the calories. Like…
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…
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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.
