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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…
7 min read
5 types of credit cards in India in 2025: Find out which one suits you best
Before saying yes to any credit card offer, know exactly what kind of card it is.…
2 min read
Cold Wallet vs. Hot Wallet: Understanding the Key Differences
When storing cryptocurrencies, choosing the right type of wallet is crucial. There are two primary types:…
2 min read
What is Tier 1 NPS?
NPS is divided into Tier 1 and Tier 2 accounts, each serving different investment purposes. Tier…
4 min read
Why Will Drafting is the Most Important Piece in Your Financial Planning Jigsaw!
Discover the importance of drafting a will as a pivotal aspect of financial planning, ensuring that…
5 min read
5 Hidden Credit Card Charges That You Should Know About
Credit cards can be powerful financial tools when used strategically. However, hidden fees can accumulate rapidly,…
9 min read
How to Choose the Right Retirement Investments for Your Goals?
Are you wondering how to choose the right retirement investments for your goals?
4 min read
The Importance of Will Drafting: A Crucial Step Towards Financial Prudence
Understand the significance of will drafting as an essential measure towards achieving financial prudence.
4 min read
Understanding Different Terms Related to Loans: A Comprehensive Guide
Navigating the world of loans can be complex, especially with the numerous terms and concepts involved.…
3 min read
Claim Settlement Ratio: Is It Enough to Judge a Policy?
Source: IRDAI Annual Report, FY22, Public Disclosures of Insurer’s NL-37 Claims Data. Like what you're reading?…
7 min read
How to save tax for salary above ₹20 lakh for FY 2025-26
A salary above ₹20 lakhs opens up a wide range of tax planning options.
5 min read
Tax Season : Aligning Insurance Choices with Holistic Financial Wellbeing
As we approach tax season, it is imperative to consider the critical link between tax planning,…
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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.
