1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
Hallmark of a Balanced Portfolio: How to Strike the Right Equilibrium
Let’s today understand what we mean by a balanced portfolio and why we need to have…
3 min read
Optimise Your Investments with the Mutual Fund Portfolio Overlap Tool
Investing in mutual funds is a popular strategy for diversifying one’s portfolio and achieving financial goals.…
7 min read
How to Calculate Credit Card Interest
Credit cards can be incredibly convenient for making purchases and managing expenses, but they come with…
3 min read
Increasing Contribution Calculator: How Annual Investment Increases Affect Wealth Accumulation Over Time
When it comes to wealth accumulation, consistently increasing your investment contributions can have a significant impact.…
4 min read
How to Get Rid of Credit Card Debt
Credit card debt in India has been on the rise, leading to significant concerns. As of…
5 min read
Pre-existing Conditions and Health Insurance: What You Need to Know
In the complex world of health insurance, understanding the nuances of policies can be daunting, especially…
3 min read
Navigating Tax Implications of P2P Lending in India
Peer-to-Peer (P2P) lending, also known as social lending, is gaining significant traction in India as a…
3 min read
How do Credit Cards Work
In today’s fast-paced, digital world, credit cards have become an indispensable financial tool for millions of…
8 min read
How to Apply For a Credit Card for the First Time
Just a decade ago, credit cards were a luxury, with stringent eligibility criteria making them accessible…
5 min read
Planning for Financial future: Where to start?
Welcome to the exciting world of financial planning! Are you ready to take charge of your…
3 min read
Maximising Investment Success: The Power of Diversifying Your Portfolio
Investing involves making strategic decisions to achieve your financial goals while managing risk. One of the…
4 min read
Why HRs Must Address Employee Financial Wellbeing Now
The burden of financial stress weighs heavily on many employees, impacting their financial wellbeing. This persistent…
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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.
