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5 min read
5 Horsemen of Solid Personal Financial Planning
Throughout history one question has been consistently pondered upon- what constitutes a well-lived life? While the…
5 min read
How to save tax for salary above ₹10 lakh for FY 2025-26?
Earning above ₹10 lakh annually places you in one of the highest income tax brackets in…
2 min read
How to Calculate NPS Returns?
The National Pension System (NPS) is a market-linked retirement savings scheme that allows individuals to accumulate…
4 min read
Understanding Tax Credits: How to Use Form 26AS and Annual Information Statement (AIS) for Accurate ITR Filing
Form 26AS and Annual information statement (AIS) display a comprehensive view of the financial transactions made…
3 min read
What is Crypto Scoring and Ranking?
Navigating the dynamic world of cryptocurrencies, especially within the decentralised finance (DeFi) sector, can be challenging…
5 min read
Investing in unlisted shares? Here are the risks that every retail investors should know about
Unlisted shares are tempting, but investing in them is full of risk and danger.
3 min read
Planning to pause your SIP during a market crash? Think again!
While systematic investment plans (SIPs) continue to be one of the best ways to grow wealth…
4 min read
How to diversify your portfolio in today’s highly volatile market?
Diversification is the practice of spreading your investments around so that your exposure to any one…
3 min read
The Importance of a Financial Plan Before Taking a Loan
“Debt is a prolific servant but a terrible master.” Like what you're reading? Get our latest,…
3 min read
REITs & InvIts: SEBI Proposes Higher Mutual Fund Investment Limits in REITs & InvITs, What It Means for You
The Securities and Exchange Board of India (SEBI) has proposed a major policy shift aimed at…
7 min read
How to save tax for salary above ₹20 lakh for FY 2025-26
A salary above ₹20 lakhs opens up a wide range of tax planning options.
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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.
