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4 min read
Without a Home of My Own
Early in our lives, my husband and I had decided one thing: we would not live…
3 min read
How to Get Out of Debt Trap by Managing Your Finances Well
In today’s fast-paced world, it’s easy to fall into the trap of accumulating debt beyond our…
5 min read
Tax Season : Aligning Insurance Choices with Holistic Financial Wellbeing
As we approach tax season, it is imperative to consider the critical link between tax planning,…
8 min read
Rupee hits all-time low: How falling rupee will impact your household budget, savings, investments
The rupee tumbled to a historic low, crossing the 88-per-dollar mark for the first time, triggered…
3 min read
Boosting Your Credit Score with Timely Credit Card Repayment
This blog examines the link between disciplined credit card usage and improving credit scores, offering practical…
3 min read
Mastering Tax Season: Essential Preparation for ITR Filing
As the tax filing season approaches, it’s crucial to prepare for filing your Income Tax Return…
5 min read
How to Choose Best Tax Regime For You | Old Tax Regime Vs New Tax Regime
This blog post compares India's old and new tax regimes, discussing their effects on taxes and…
3 min read
Why We Created a Commission Analyser for Insurance Policies
Among the issues that plague India’s personal finance advisory space, the mis-selling of financial products that…
3 min read
How Often Should You Rebalance Your Portfolio?
It’s that time of year when people plan fresh starts. While gym memberships are part of…
5 min read
The Basics of Financial Well-Being: What Does It Really Mean?
Unlock the true meaning of financial well-being as we delve into its key components, from budgeting…
4 min read
Term Insurance against Home Loan
Are you contemplating the best way to secure your home and ensure your family’s financial stability?…
8 min read
One on One with a Font Engineer
Kalapi Gajjar-Bordawekar has been working with fonts for about a decade. He is a typeface designer…
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Identify the personality traits and behavioural patterns that shape your financial choices.
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.
