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5 min read
Taxation for Freelancers and consultants
Unlike salaried individuals, freelancers and consultants often find it more complex to understand taxation requirements and…
5 min read
P2P Lending in 2025: The Future of Alternative Financing
Peer-to-peer (P2P) lending has undergone a significant transformation since its inception in the mid-2000s. Fast-forward to…
4 min read
Residential Status and its Importance in Taxation
Your tax liability depends on your residential status so it is essential to understand how you…
4 min read
Adjusting the sails of your investment to the weather
Every time there’s a minor correction in the market, we hear the same concerns: “Markets are…
6 min read
Understanding the Role of Stablecoins in the Crypto Market
Explore the dynamic role of stablecoins in the crypto market as they bridge the gap between…
4 min read
13 Income Tax Rule Changes in 2024 That Will Impact Your ITR Filing in 2025
The income tax reforms announced in 2024 have introduced a range of updates that will influence…
5 min read
Maximizing Credit Card Rewards: A Comprehensive Guide
Unlock the secrets of maximizing credit card rewards. Learn about cashbacks, reward points, and more. Make…
7 min read
Why Typical Goal-Based Financial Planning Is Not Sufficient For Your Retirement
Imagine that it is the start of a slow, stress-free weekend where you’re sipping your morning…
7 min read
How Do We Evaluate Credit Cards: A Comprehensive Evaluation Guide
The vast variety of credit cards often raises a pertinent question: How many is too many?…
5 min read
Types of Retirement Plans in India
Retirement planning is one of the most significant financial decisions you’ll make in your life. It’s…
3 min read
Don’t Start 2025 Without Answering These 5 Financial Questions
The end of the year is a natural time for reflection and planning. We think about…
6 min read
6 Factors to consider before Choosing Term Insurance
Life and Health Protection are the major two areas to look for in insurance planning; Life…
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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.
