FINANCIAL PLANNING
Financial planning is a step-by-step approach to meet one's life goals. A financial plan acts as a guide as you go through life's journey. Essentially, it helps you to be in control of your income, expenses and investments, such that you can manage your money and achieve your goals. The services provided by financial advisors will vary based on the type of advisor. However at DHANSAGA₹ we will assess your current financial situation — including your assets, debts and expenses — and identify areas for improvement. A good financial advisor will ask you about your goals and create a plan to help you achieve them. That may mean calculating how much you should save for retirement, making sure you have an adequate emergency fund, offering tax-planning suggestions or helping you refinance or pay off debt. Financial advisors also help invest your money, either by providing or recommending specific key investment.
it creates a road-map and equips you to meet all your life's expenses ,both the expected and unexpected.But we all know that inflation can be the biggest bug. It has the power to eat away the value of your hard-earned money.Hence, financial planning is important and crucial for everyone.Document how much you've paid over a year in basic housing expenses like rent or Loan EMI payments, utilities, credit card interest, and even home furnishings. Add categories for food, clothing, transportation, insurance, and non-covered medical expenses. Document your real spending on entertainment, dining out, and vacation travel. Don't overlook cash withdrawals Once you add up all these numbers for a year and then divide by twelve, you'll know exactly what your cash flow has been.
