1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
5 min read
Maximizing Tax Benefits on Medical Expenditures: Understanding Sections 80D, 80DD, and 80DDB
Introduction As individuals, we are all too familiar with the ever-increasing costs of medical expenses. Whether…
7 min read
Considering NPS Vatsalya for Your Child’s Future? Explore the Pros and Cons Before Investing
Considering NPS Vatsalya for your child's financial future? This pension tool helps build long-term wealth and…
3 min read
Tax Season and Financial Mis-Selling: What You Need to Know
Every year, as the financial year draws to a close, there’s one ritual most taxpayers perform—calculating…
How to Calculate NPS Returns?
The National Pension System (NPS) is a market-linked retirement savings scheme that allows individuals to accumulate…
4 min read
Safeguarding your future: Decoding Term Insurance Vs Personal Accident Insurance
Introduction Life’s unpredictability often brings unexpected emergencies. While we can’t control these events, having the safety…
4 min read
Navigating Income Tax & Taxation on Gifts Received in India
Understand taxable income basics and the taxation on gifts received. Navigate with confidence, ensuring compliance and…
4 min read
The Benefits of Financial Well-Being for Businesses and Employees in India: A Comprehensive Guide
Explore the mutual benefits of financial well-being for businesses and employees in India, from increased productivity…
3 min read
How to Gradually Minimise Your Principal Amount
When taking out a loan, the principal and interest components are crucial factors to consider. Lenders…
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…
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
The Basics of Financial Well-Being: What Does It Really Mean?
Unlock the true meaning of financial well-being as we delve into its key components, from budgeting…
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).
Discover your MoneySign®
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.
