1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
What Happens When a Parent Dies While You’re Young?
Many years ago, I came home from college one afternoon to find that my father had…
2 min read
Navigating P2P Lending in India: A Guide to Smart Investments
Peer-to-peer (P2P) lending has emerged as a popular alternative investment avenue in India, offering individuals the…
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…
Without a Home of My Own
Early in our lives, my husband and I had decided one thing: we would not live…
One on One with a Font Engineer
Kalapi Gajjar-Bordawekar has been working with fonts for about a decade. He is a typeface designer…
5 min read
Benefit of opting for the Old Tax Regime
When it comes to personal tax planning, taxpayers are often in a dilemma to decide whether…
Is It Too Late to Course-Correct My Finances in My 50s?
Dear Qualified Financial Advisor, Like what you're reading? Get our latest, straight to your inbox. Subscribe…
4 min read
Received a Notice under Section 143(1)? Here’s what it means
Receiving a notice under Section 143(1) is a routine part of the income tax return process.…
5 min read
Why Do You Need a Safe Deposit Locker?
There are things you can lose and not care much about. But there are some things…
6 min read
TCS Applicability on Foreign Remittance
TCS on foreign remittance ensures tax compliance while transferring money abroad, impacting both individuals and businesses.
4 min read
Term Insurance against Home Loan
Are you contemplating the best way to secure your home and ensure your family’s financial stability?…
4 min read
Simple Steps to Apply for Refund Re-issue
Introduction It is officially that time of the year when office WhatsApp groups are overflowing with…
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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.
