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How Tech Makes Splitting Bills Easier
a nice time and eaten your fill. Then the bill reaches the table, and suddenly, there’s…
3 min read
How Does Capital Gain/Loss Harvesting Help You Save Taxes?
Delve into the strategy of Tax Loss Harvesting with us, uncovering how savvy investors leverage capital…
2 min read
Navigating P2P Lending in India: A Guide to Smart Investments
Peer-to-peer (P2P) lending has emerged as a popular alternative investment avenue in India, offering individuals the…
3 min read
Decoding Insurance Commissions: Empowering Financial Choices
Our "Commission Analyzer" tool on Insurance empowers you to protect your finances by understanding the commission…
Does Movement on the Stock Market Make Us Anxious?
There’s a scene in The Wolf of Wall Street where Matthew McConaughey’s character gives Leonardo DiCaprio’s…
3 min read
Unknown Clauses About Life Insurance Policies to Watch
In India, life insurance has long been an emotional decision for families. It remains a push…
What You Need to Create a Safety Net
We’ve often heard the adage that it is prudent to set aside some money ‘for a…
Who Do You Trust to Give You Financial Advice?
It appears that everyone is talking about personal finance — watching ads during a cricket game…
Looking Back: A Personal Finance Report Card for 2022
A market crash, rising inflation, a devastating war, and respite from lockdowns amid an ongoing pandemic.…
The Values Behind Our Brand Identity
We know that a lot goes into building a brand — after all, it’s not just…
3 min read
World’s longest coffee break: Retirement
Retirement—a word that often conjures images of winding down, but in reality, it marks the beginning…
The Benefits of Being a Budget Bride
When I was 27, my salary account had a monthly cycle. Full on the first, inexplicably…
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.
