Importance of Planning your Finance

By

 

To determine your long-term and short-term financial goals you need to plan your finances in a balanced way to meet those goals.

Lets look at 10 reasons to plan your finances with the help of an expert financial advisor.

1.     Income Management:  It helps to effectively manage your income and help you understand how to proportionate between your tax payments, monthly expenses and your savings.

2.     Inflow of cash: By careful monitoring of your expenditures and its patterns, planning your taxes along with proper budgeting will help you keep more of your hard earned cash.

3.     Capital growth:  With the increase in cash inflow your total capital also increases which helps you to consider investment options and improve your financial freedom.

4.     Securing your Family: The most important goal is to provide financial security to your family which can be achieved by having proper insurance coverage and policies in place and have peace of mind for you and your family.

5.     Investment Planning:  It should be done with the help of a proper financial planner by considering your personal circumstances, your financial objectives and risk appetite.

6.     Living Standard:  Good savings created from good financial plan can prove beneficial in difficult times of life.

7.     Understanding of your Finances: With better understanding of finances better measurable goals can be set and planning can be reviewed and reset if required.

8.      Asset Creation: with better understanding of finances one can build assets that do not become a liability in future.

9.     Building your Savings: Always plan for some investments with good liquidity for utilizing in rainy days of life.

10.   Take Expert Advice:  Don’t hesitate taking advice from a trusted and experience financial planner and advisor for  better planning and achieving of your goals

Comments

Post a Comment

Popular posts from this blog

Teacher As: Critical Pedagogue

By
Education is not only a process of cognitive development. It is a process of overall development of the child. The whole teaching learning process consist with three important components i.e student, teacher and curriculum. In the process of curriculum construction, evaluation and feedbacks are an important aspect to redesign the curriculum. Evaluation cannot be made on the basis of academic achievement of the students. Teacher should play an important role in the construction of curriculum as well as transaction of curriculum. Thus there is a need that teacher should take initiative to evaluate the whole education system as a Critical pedagogue. It is an ability to evaluate our teaching and the practices prevailing in existing education system critically in relation to methods and practices adopted by the teacher to teach concern pedagogical subjects. Ira Shor defines “ Critical pedagogy is habits of thought, reading, writing and speaking which go beneath surface meaning, first impr
Read more

ROLE CONFLICT PROBLEM AMONG WORKING WOMEN

By
Women of India have marked their significant presence in the world in various fields. They have been given the status of power and prestige in India.    Indian women has got much more significance in today’s developing times. Where until lately, they were shadowed by patriarchal dominance, the contemporary women in India have moved beyond all social boundaries to emerge as triumphant leaders of tomorrow. Not only has She taken up courageous roles in society, her own individuality as a ‘woman’ has now got an improvised meaning. The world has changed for females in India now. The daughters are pursuing successful ambitions in the male dominated corporate scenario and mothers are taking up flextime jobs to showcase their exceptional managerial talent. Today, our women have stepped out to become bread earners of the family. Although the trend is yet developing in India, The IT-BPO sector is becoming a female dominated industry in India with a significant number of capable and qualified f
Read more

Rights and obligations of Issuer, Participant and Beneficial owner under the Depository Act, 1996

By
As per section 17 of depository Act the rights and obligations of the depositories, participants and the issuers whose securities are dealt with by a depository shall be specified by the regulations. Under the Depository Act, 1996 depository means a company formed and registered under the Companies Act, 1956, and which has been granted a certificate of registration by SEBI under sub-section (1A) of Section 12 of the Securities and Exchange Board of India Act, 1992 ). (Section 2(1) (e)) Work of Depository- The word ‘depositary’ is defined as “the party of the institution (company) receiving a deposit. A depository holds securities (like shares, debentures, bonds, Government Securities, units etc.) of investors in electronic form. Besides holding securities, a depository also provides services related to transactions in securities. It acts as a trustee of the owner since the securities are entrusted with him in trust. He is also the agent of the owner of the securities. Thus
Read more