Knowing your financial planning requirements
Saving money is stressful, and if you don’t know how to save and again are stressed over the fact that you cant save you just get double the stress and still no money or solution you find. So let’s know financial planning why it is needed and how it can be done?
But that’s okay, we have all been there and faced this situation in life. Here are my few tips that will help you get started on the path towards sensible savings.
- Figure out your needs and wants -One must know what is most necessary items of expenditure for him/ her like rent, food, utilities, groceries, petrol, etc. and then try to find and figure out ways of reducing your expenses. It can be in any way like carpool, cutting down snacking so you can focus on items you want and actually need.
- Set a monthly budget – Yes, it works and I have personally tried it. Set up weekly/ daily spending limit, it helps bring you closer to your saving goals. This will make you cautious and help save more.
- Have specific and significant goals like I want to save 1 lakh by the end of year
- Save and then spend the olden golden rule
- Don’t have bad spending habits
- Set aside a certain amount, invest in MF’s, FD’s, RD’s
But all this is not enough, we need proper financial planning for long term goals. We need advice from financial people who can guide us and advise us.
What is financial planning?
It’s a process to check your current finances and access them to meet our future life goals. There could be medical or life emergencies, inflation can hit the economy, you have dreams and long term goals and you are also thinking about retirement then yes you need expert lookout to plan finances.
So if you need advice on income tax planning or even mutual fund investments, if interested in stock subscriptions or any other financial planning. Whether you are looking to become a rich person or you want to avoid being by 20th of every month, or if you just want to save up a sizable amount for emergencies, don’t worry and look for financial planning and solutions. No, I am not asking you to go anywhere the solution is just a few clicks away.
All you need to do is click investyadna to understand the basic and more advanced ways to invest money and understand financial planning in a better way. Investyadna is a financial education startup with an objective to bring the basic financial education to Indian Masses. They are offering there time, money and knowledge to the holy fire of financial literacy in India and to educate and simplify concepts of personal finance for every Indian!
You will ask why I need financial planning, well if you answer any of the following questions yes then you need planning for sure.
- You want to better manage your finances, but aren’t sure where to start?
- Don’t have time to do your own financial planning?
- Don’t have sufficient expertise to make the decision?
- Unsure what to do in an immediate need or unexpected life event?
Investyadna the online financial planning service offers virtual access to financial advisors. They help create a complete and custom financial plan and even try to offer unlimited access to a team of financial advisors. They are also offering basic Financial Planning absolutely FREE of cost for everyone and have more than 100 ebooks on Mutual Funds, Stock Reviews, Tax Planning, and Financial Planning topics.
Let me tell you about these books
- To know about how much life insurance we require just check this ebook on Life insurance
- They have information on best of the mutual funds available in the market to choose from.
Along with all this investyadna also offers simplest income tax information, mutual fund reviews, stock market analysis and personalized financial planning.
This quote holds true not only for life goals but also for financial goals. We need to put mind, soul, and knowledge to our savings along with patience and will to save.
“save me today and I will save you tomorrow”
So, grab a book and become financially aware.