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5 min read
Tax Filing: Understanding Key Terminologies
Filing your Income Tax Return (ITR) in India can feel confusing at first. There are a…
5 min read
Important Terminologies Related to Income from House Property: Here’s What You Need to Know
Owning your dream house is not about just a place to call home but it also…
3 min read
How to Create a Financially Smart New Year Resolution Plan
The New Year is the perfect time to hit refresh and think about how to take…
5 min read
How to Secure Your Family’s Future with Succession Planning?
Secure your family's legacy and peace of mind through effective succession planning.
4 min read
What Do I Need to Know Before Taking On a Home Loan?
Dear Qualified Financial Advisor, Like what you're reading? Get our latest, straight to your inbox. Subscribe…
5 min read
ETF vs. Actively Managed Mutual Funds: Which is the Better Option for Your Investment Strategy?
Over the last couple of years, one of the most debated topics among investors is active…
7 min read
How to Start an Investment Portfolio: A Step-by-Step Guide
Learn how to start your investment portfolio with our comprehensive step-by-step guide. Learn how to start…
9 min read
Decoding Taxation on Capital Gains
Gain insights into the intricacies of capital gains taxation and navigate the complexities of maximizing financial…
3 min read
How to Maximise Tax Benefits With Rental Income
Ever wondered if investing in rental properties could be a wise financial decision? While the potential…
4 min read
What It Takes for Successful Retirement Planning?
Retirement planning is not just a financial necessity; it is a fundamental aspect of securing your…
6 min read
How to choose your first credit card in 2025
Credit cards have quietly become a part of everyday life. What was once seen as a…
3 min read
What is Arbitrage Fund?
Investors often seek safe and consistent options for parking their money, especially in volatile markets. One…
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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.
