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3 min read
Going Beyond Traditional Ways of Investing in Real Estate
Many of us dream of owning a home. This aspiration, along with the fact that real…
4 min read
Saved Money, Will Travel
The Irish call it a Claddagh ring. It’s a pretty ring: two hands clasping a heart,…
4 min read
Do What You Love, But You May Not Earn as Much
“Money, it’s a gas.” “Money, money, money, must be funny, in the rich man’s world.” “Money,…
4 min read
Why We’re Bad at Sticking to a Budget
It’s almost the end of the month and your credit card bill lands in your inbox.…
3 min read
Should You Be Investing in Gold?
In India, gold has been a traditional form of investment for generations, and often holds sentimental…
3 min read
How Can I Earn Passive Income?
Dear Qualified Financial Advisor, Like what you're reading? Get our latest, straight to your inbox. Subscribe…
2 min read
Key Benefits of Investing in ETFs
Exchange-Traded Funds (ETFs) offer investors a unique blend of diversification and ease of trading. They function…
5 min read
The Treasures We Hold Close
How do you ascribe value to an object? Is it how much money it cost? Or…
3 min read
The Sensory World of Online Shopping
It’s one of those days when you know that nothing but an iced coffee can make…
4 min read
The Sweet Relief of Being Financially Literate
I sit sweating uncomfortably in our living room on a humid Goa morning, halfway through a…
3 min read
Empowering Finances: Exploring the Dynamics of Peer-to-Peer Lending
For centuries, getting a loan meant begging your bank manager or relying on family and friends.…
4 min read
How to Invest to Combat Inflation
Inflation is a pervasive but regular economic occurrence that weakens purchasing power. It causes concern among…
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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.
