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Planning for Financial future: Where to start?

Viral Bhatt
Viral Bhatt Founder, Money Mantra. Chairperson of 1 Finance Advisory Committee, Mumbai Chapter

24 April 2024 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 future? Let’s explore why financial planning matters and essential tips to kickstart your journey towards financial freedom. From setting clear goals to avoiding impulsive spending, we’ve covered it all with practical advice and a touch of humour to keep you entertained. So, buckle up and prepare to embark on this thrilling adventure towards financial success!

Why Financial Planning Matters

Financial planning—oh, what a joy! Who needs spontaneous shopping sprees when you can meticulously plan your financial future? Let’s dive into the riveting world of why financial planning matters.

Have you ever dreamed of owning a mansion, travelling the world, or swimming in a cash pool? Financial planning is your trusted steed to help you achieve those ambitious dreams. Buckle up—we’re on a rollercoaster ride to goal achievement!

Stress, ah, that unwelcome guest in our daily lives. But fear not, for financial planning swoops in like a superhero to reduce that stress. Say goodbye to sleepless nights spent worrying about money and hello to peace of mind.

Want to retire on a private island with a never-ending flow of margaritas? Secure your future with financial planning! Say goodbye to anxieties about post-retirement poverty; hello, sipping cocktails on your private beach.

Remember, financial planning isn’t just about numbers; but crafting your ideal future. So, grab your calculators and let’s embark on this epic journey towards financial freedom!

Steps to Begin Your Financial Future Journey

Ah, the thrilling adventure of embarking on your financial journey! It’s like being a money detective, solving the mysteries of your bank account. Let’s explore the world of financial planning without getting too deep and drowning in jargon.

First, you need to evaluate your current financial situation. There’s no need for a magnifying glass here; just gather all your financial statements and do some good ol’ snooping. Understanding where you stand financially is like knowing which path to take on a treasure hunt.

Next on the agenda is setting clear financial goals. Think of it as plotting your map with distinct destinations. Whether you want to own a yacht or just afford avocado toast without guilt, defining your goals will give your journey direction.

Now, let’s tackle the dreaded B-word – budgeting. Yes, I said it. Budget. Don’t run away screaming just yet. Creating a budget is like designing a roadmap for your finances. It’s all about balancing the scales of your income and expenses without tipping over the edge.

Ah, debt—the ominous cloud looming over many financial adventurers. It’s time to face the debt monster and slay it with your trusty repayment plan sword. Reducing debt is the key to unlocking the next level of your financial game.

Saving and investing wisely is like planting seeds that will grow into money trees. It’s not about burying your cash in the backyard and hoping for the best. It’s about nurturing your funds in the appropriate soil of investment options and watching them flourish.

Remember, like adjusting your rearview mirror while driving, you must review and change your financial plan regularly. Life throws curveballs, and your financial plan should be as flexible as a gymnast doing yoga. Stay nimble, my friends.

So there you have it, the not-so-secret recipe for beginning your financial future journey. It’s all about knowing where you stand, setting goals, budgeting like a boss, slaying debt dragons, planting money trees, and doing regular check-ins. Get ready to conquer the world of financial planning like a seasoned pro, or at least like a mildly confident amateur.

Tips for Successful Financial Planning

So, you’ve decided to explore the wild world of financial planning. Well, buckle up because it will be a rollercoaster ride filled with numbers, budgets, and maybe even a few tears (mainly when you check your bank account after a weekend of online shopping).

Let’s discuss the essential tips for successful financial planning to kick things off. First, educate yourself. No, binge-watching Netflix documentaries about money doesn’t count. Get actual knowledge—read books, attend seminars, and maybe even listen to that finance podcast your mom keeps raving about.

Next, seeking professional help can be a game-changer. There is no shame in admitting you’re clueless about stocks or bonds. Let the pros guide you through the financial maze while you sit back and sip your latte.

Now, staying disciplined is critical. Sure, that new phone looks tempting, but financial stability is the new sexy.

Oh, and impulsive spending? Yeah, it’s not a good look on anyone – except maybe your cat when they knock over your millionth succulent trying to act cute. Prepare for emergencies because, let’s face it, life loves throwing curveballs when you least expect them.

Monitor your progress like a hawk stalking its prey (but less creepy). And hey, don’t forget to reward yourself along the way – maybe with a fancy dinner or those designer shoes you’ve been eyeing for months. Remember, financial planning is a journey, not a sprint. So, buckle up, enjoy the ride, and try not to scream too loudly when the stock market takes a nosedive. Cheers to your financial future!


You’ve made it to the end! Congratulations! Now, let’s quickly recap the key takeaways from our financial planning journey:

Evaluate your current situation. Take a hard look at your finances and understand where you stand. Set clear financial goals. Without a destination in mind, you’ll wander.

Create a budget. It’s like a roadmap for your money, keeping you on track and showing where every dollar should go (spoiler alert: not towards that fancy coffee every day).

Reduce debt. Piles of debt can suffocate, so tackle it head-on and free yourself from clutches.

Save and invest wisely. Money grows on trees, so I’m just kidding! But with intelligent saving and investing, you can make your money work for you and grow over time.

 Review and adjust regularly. Life happens, and your financial situation will change accordingly.

To stay on top of it, periodically review and adjust your plan. Now that you’re armed with these tips conquer the financial world!

Remember that education, discipline, and a sprinkle of humour will make the journey much more enjoyable. Good luck!

Please note,

The views in the article /blog are personal and that of the author. The idea is to create awareness and not intended to provide any product recommendations.


Discover your MoneySign®

Identify the personality traits and behavioural patterns that shape your financial choices.