1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
2 min read
Who Should Invest in NPS Balanced Life Cycle Fund?
The National Pension System (NPS) offers different investment strategies to help individuals plan for their retirement.…
2 min read
60% of Urban Indian’s Financial Goals are Being Crushed By Unexpected Expenses
“Hold fast to dreams, for if dreams die, life is a broken-winged bird that cannot fly.”…
3 min read
PMS or Mutual Funds: Where Does an Unfair Advantage Lie?
When it comes to wealth creation, investors often find themselves choosing between Portfolio Management Services (PMS)…
What is NPS in Salary?
The National Pension System (NPS) is a voluntary retirement savings scheme introduced by the Government of…
5 min read
Performance of India’s Nifty 50 Constituents in 2024: Last year in Review
2024 has been quite a rollercoaster for India’s stock market. Investors saw big winners and surprising…
3 min read
What is Term Insurance Scoring and Ranking Model?
Selecting the right term insurance plan is a critical step in securing your family’s financial future.…
Cold Wallets: The Gold Standard of Crypto Security
The cryptocurrency market continues to expand, bringing increased security concerns for investors. With cyber threats on…
3 min read
ETFs vs. Index Funds: What’s the Difference and Which One is Right for You?
If you’re looking for a way to invest in the stock market without having to pick…
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:…
3 min read
Micro Loans vs. P2P Lending
In today’s fast-evolving financial landscape, alternative lending options like Micro Loans and Peer-to-Peer (P2P) Lending are…
2 min read
What is Health Insurance Scoring and Ranking?
Choosing the right health insurance plan is crucial for safeguarding your financial well-being against unforeseen medical…
4 min read
What are Index Funds? Types, Benefits and Limitations
Index funds are investment vehicles designed to track the performance of a specific market index, such…
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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.
