What Would You Like To Do With Your Extra Money?

·                             Acquire degree from international country?

·                            Memorable Holiday Getaway?

·                          Procure A Most Happening Property?

·                         Boost up Your Lifestyle, Drastically?

·                       Commence A Most Profitable Business?

·                       Improvise Living style Of Your Family, Children and Relatives?

·                       Actualize a pleasurable Retired Life?

      Probably you may do all of these or may be most of them. So this is how we do financial planning inIndia. We make a wish list and then gradually we tries to accomplish each of them with extra money.

Process of managing your money smartly with the intention to acquire your financial goals and wishes is called as financial planning. It’s a long process that involves lot of time, patience and wise decision making skills. In other words, financial planning is the procedure of categorizing and judging your economical aspirations, making a priority list of them and finally accomplishing these goals on the basis of priority with a comprehensible, centered and a tailored financial strategy. Proven Financial Planning can assist in achieving better wealth and financial protection as well, whereas unproven or inappropriate set of plans can be catastrophic to your financial health. 

     Let us understand the concept of Financial Planning in India with example, suppose you are suffering from a mild fever. What you will do? Most probably you will take a self prescribed medicine. But when you did not get relief from self prescribe medicine, most probably you would discuss it with your colleagues, neighbors and friends. They again will suggest you some pill and say this one is a good medicine you will get instant relief and so on. Now you will buy same medicine and eat it. Even now you are not able recover and it persists you may go to the local pharmacist and seek his advice and ask him to prescribe some stronger drug. But what if it prolongs still? Not only mild fever, but other impediments begin arising to you? Now finally you will give up and will go to an experienced doctor. You might get to see a magic by eating only one dose of Doctor. Hence the moral of story is maybe if you had visited to the doctor in the initial phase of your sickness when you were suffering from only mild fever, in place of being in poor health for one week your health might have recovered better within just 2 days. 

      In the same way, looking for the financial solution and services of a certified Financial Planner is just the same. But people in India yet inquire about disease and look for advice from the druggist and chemist equivalent to agent, or a friend, or a neighbor, or a relative or a colleague for their richly deserved savings which may result grievous.

      Youngsters of today’s generation do not plan their finances - some youths don’t plan because they are not aware of its advantages, some young professionals believe that they do not need financial advice at the first phase of their careers and some without getting it assumes that others getting financial solution from expert is an expensive affair hence they can’t afford it. The fact is, as soon you will start investing the more you will be able to accumulate and can fulfill your financial dreams and goals. Your money grows on the "compounding" or the "snowball effect" principle. 

      To conclude we can say Financial Planning is a continuing long term process concerning to saving management, cash flow planning, insurance planning, retirement planning, tax planning and property planning.