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3 min read
Documents Required for Surrendering a Life Insurance Policy
Surrendering a life insurance policy with the Life Insurance Corporation (LIC) of India involves a structured…
6 min read
Form 16: Understanding Part A, Part B, their differences, and the key changes in Form 16 for FY 2024-25
For millions of salaried employees across India, Form 16 is not just a document, it’s a…
3 min read
How to Change Nominee in NPS
The National Pension System (NPS) allows subscribers to designate a nominee who will receive the accumulated…
8 min read
How to Get a Credit Card for the First Time
Just a decade ago, credit cards were a luxury, with stringent eligibility criteria making them accessible…
10 min read
Income Tax Slabs, Rates for FY2025-26, FY2024-25 Under the New Tax Regime and Old Tax Regime; Check How Much Tax You Have to Pay
Do you know which tax bracket you fall into for FY2024-25 or FY2025-26? You might feel…
6 min read
Income Tax on Income Earned Online in India
Unlock the secrets of navigating income tax on your online earnings in India with our comprehensive…
6 min read
Are Your Mutual Funds Portfolios Overlapping? Here’s How to Tell
Building a well-diversified mutual fund portfolio is key to reducing risk and maximising returns. But many…
4 min read
Top 3 Premium Credit Cards in India (2025): Best for Travel, Luxury & Rewards
Are you a frequent traveler, luxury shopper, or someone who enjoys the finer things in life?…
8 min read
3 best alternative to HDFC Infinia Credit Card (Metal edition)
While the HDFC Infinia is seen as a powerful credit card, it might be hard to…
7 min read
Understanding the dynamics of Individual Vs Family Floater Health Insurance
Meet the Kumar family: Mr. Kumar, aged 45 years, Mrs. Kumar, a youthful 42 years, and…
6 min read
Top 5 Elite Credit Cards in India for International Travel in 2025
For high-income individuals who frequently fly, stay at luxury hotels, or shop globally, elite-tier travel credit…
4 min read
How to Do Tax Harvesting for Mutual Fund Returns
Tax harvesting is a strategy used by investors to minimize their tax liabilities by offsetting gains…
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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.
