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6 min read
Tax planning for salaried Individuals – Beginners guide
This guide empowers salaried individuals with essential tax planning knowledge to effectively manage taxes and maximize…
3 min read
Emergency Funds: Why You Need One and How to Build It
Discover the value of an emergency fund as your personal financial buffer, empowering you to handle…
3 min read
Demystifying Travel Insurance: Separating Fact from Fiction
Unravel the truth about travel insurance with us as we debunk common myths and misconceptions, helping…
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,…
A Quick Breakdown of What a Depreciating Rupee Means for You
In everyday transactions of late, you might’ve noticed a gradual spike in the price of fuel,…
7 Ways to Achieve Financial Freedom
If I had a dime for every bad financial decision I made during my initial years…
5 min read
Home Loan Rate Drop: How Much Can You Save on Your Home Loan Interest Now?
If you’re repaying a home loan, there’s good news. The Reserve Bank of India (RBI) has…
5 min read
Decoding Income Tax Rules for Non-Resident Indians (NRIs)
Your trusted guide for unraveling the complexities of Income Tax Rules for Non-Resident Indians (NRIs).
6 min read
Why Should You Invest in Gold: Gold Prices, History and future
There’s one metal that is historic, timeless and valuable. Yet not rare like diamond, or cheap…
Back to Basics with a Money Jar
For a freelance travel writer, there’s never enough travel. Assignments and hosted trips are all well…
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…
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…
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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.
