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8 min read
What are the Pros and Cons of Loan Refinancing?
Unlock the intricacies of loan refinancing in India to make well-informed financial choices with our comprehensive…
6 min read
Section 10 of the Income Tax Act
When we talk about saving on taxes, exemptions can make a world of difference. One section…
4 min read
Understanding the Mechanics of Decentralized Exchanges
Explore our in-depth analysis on the rise of Decentralized Exchanges in India, their potential to revolutionize…
3 min read
Understanding Credit Scores and Their Importance in Personal Loans
In the world of personal finance, few things carry as much weight as your credit score.…
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…
5 min read
New TDS Changes Effective from October 1, 2024: What You Need to Know
As part of the Union Budget 2024, significant amendments to the Tax Deducted at Source (TDS)…
5 min read
Exploring the 4% Safe Withdrawal Rule for Retirement Planning in India
Retirement planning is an essential aspect of personal finance, ensuring that you have enough savings to…
5 min read
Understanding Pet Insurance: Key Insights for Every Pet Owner
Throughout history, humans have shared a deep bond with animals, welcoming them into their homes and…
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…
7 min read
Health Insurance- Shield for your medical emergencies
The adage "Health is Wealth" is well known. With the breakout of COVID-19, which shook each…
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…
5 min read
Why Should You Only Work with a SEBI Registered Investment Advisor?
When it comes to making financial decisions, selecting the right professional to guide you is crucial.…
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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.
