Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
8 min read
Just a decade ago, credit cards were a luxury, with stringent eligibility criteria making them accessible…
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This blog explores the socio-economic challenges, pricing trends, and policy interventions shaping Greater Mumbai’s housing affordability…
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The devastating effects of the COVID-19 pandemic left a trail of financial turmoil in its wake.…
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Building a well-diversified mutual fund portfolio is key to reducing risk and maximising returns. But many…
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Tax harvesting is a strategy used by investors to minimize their tax liabilities by offsetting gains…
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Meet the Kumar family: Mr. Kumar, aged 45 years, Mrs. Kumar, a youthful 42 years, and…
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Agricultural income is commonly viewed as entirely tax-free, but few complications are involved in its tax…
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Unlock the secrets of navigating income tax on your online earnings in India with our comprehensive…
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Do you know which tax bracket you fall into for FY2024-25 or FY2025-26? You might feel…
3 min read
Surrendering a life insurance policy with the Life Insurance Corporation (LIC) of India involves a structured…
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Behavioral finance explores how psychology and biases impact financial decision-making.
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HDFC Infinia has got a new competitor — the ICICI Emeralde Private Metal Card. Both are…
Identify the personality traits and behavioural patterns that shape your financial choices.
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.
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.
Financial planning is important because it provides clarity and control over your finances.
Having a financial plan helps you:
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.