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Personal Financial Planning essential for women

3 Reasons why is Personal Financial Planning essential for women

by Holistic 1 Comment | Filed Under: Financial Planning

Do you ever wonder how women from any strata of society, are able to accomplish this well?

How is a common housewife able to manage her household in whatsoever budget, she is given?

On a small-scale, women have always well proved their potential to be better money managers.

Let us illustrate a scenario as an evidence of this concept. If we look at banks and other micro finance institutes, it will not be uncommon to find these organizations readily lending money to every next door woman in the house. Does this still makes you ponder?

Decide your financial Future; or someone else will:
Personal financial planning is one of the significant things in every women’s life. Planning your own financial future will offer you enormous set of benefits. Even with these benefits being clearly apparent, many women (including the working ones) still leave their financial matters on their fathers or husbands.

You may raise a question here. What will this planning ensure us with?
Let us answer this question with an example. Consider an Indian family going for its first vacation abroad. It is obvious for any and every Indian family to plan their holiday well in advance. Like a vacation, every successful aspect of your life requires planning including your finances.

Of all, personal finance planning can be regarded as the most important as it can be a key to our and our dear ones’ future. Thus it should not be taken at ease. Rather, it should be stabilized and considered various aspects including one’s short and long term goals.

Let us here pay our attention to some very simple and easily attainable steps,for any and every contemporary woman,to ensure her finances for a safe future.

1. To understand your financial needs:

This is the primary step, for which a women must build up a relevant plan. For the same, begin with finding answers to the following questions:

Ask yourself if you are actually aware about your cash flows (incoming and outgoing)? This necessary information will help you be aware about the surplus or deficit at every month end.

What is the difference of the cash inflow and the expenditure, to calculate your net savings?

Then, determine how much of your income is being saved (savings ratio)?

Do you earn, just to save? Are you also investing alongside?Investment can be understood as saving with a fixed agenda or plan.

Are you informed of how much interest value is your bank deposits generating?

Do you have your emergency funds (at least 3 to 4 times of your monthly income) in place?

Having all this, you can step on to the next level for your personal financial planning .

2.To identify your family financial goals:

Let us gain understand this step via putting forth certain questions before ourselves.
Is my family and I insured well? Do we have an income replacement, if any of the income generators in the family passes away?
Do you have an assured sum for retirement? Do not live under a delusion that your children will be your retirement plan.

Are you saving enough for your child’s higher education or wedding?

Are you well prepared for additional liabilities, like your housing loan, care for parents or in-laws?

3.To evaluate investment options:

Be rational and reasonable, while considering investments. Before making any decision, contemplate upon: Who is my investment advisor? Is he someone trustworthy, or professional, or just a known someone?

Conclusion:

Discussed were a few questions and points that every woman should lay her thoughts upon. All these questions discussed need persuasive answers, for assurance of a strong ‘personal financial planning’.
Financial planning should be an important part of everyone’s routine, therefore brought into practice. Once begun, it will be a plain sailing to continue the association.

If you have any comments or questions, write them in the comment box below.

Or are you interested in creating a Comprehensive Financial Plan for your financial goals?

Skip the queue by registering for your 30 Minute FREE Financial Plan Consultation. Click the ‘‘BOOK YOUR SLOT NOW!’’ button below. 

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Comments

  1. Mirketa says

    November 5, 2019 at 5:06 pm

    Nice blog, thanks for sharing

    Reply

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Jey S
Jey S
24. September, 2021.
I have been using Holistic Investment Planners for the last three years. Mr. Srinivasavaradhan answered all my questions and doubts very patiently during the first free consultation. I was able to clearly define my short-, medium- and long-term goals once I signed up for the comprehensive plan and got their investment plan suggestion to achieve my goals. They are very polite and highly professional whenever I contact them for any queries or make investments. They never pressurize you to invest on their recommended financial products. I would have been lost money by investing directly without their help since I do not have time and knowledge about different financial products. Risk planning is also done as part of financial planning. Truly, they are holistic planners when it comes to your financial planning. They help you to define your life goals, understand your financial resources and establish a plan to invest towards reaching those goals. They do review your plan as you progress to make sure that you are on correct path to achieve those goals. Kudos to the team and keep up the good work!!! I am happy that I found holistic investment planners for my financial planning and management.
aksaswadkar
aksaswadkar
24. September, 2021.
I was about to retire and really not understanding how to invest money to have financial freedom and fulfilling my goals. Was desperately searching on internet way out and fortunately came across Holistic Investment Planners. I read number of articles on their website and realized that this is the agency which I want and engaged their services for my retirement planning. It is an excellent experience to be associated with Holistic. Right from day one our interaction was fantastic and they gave me such a wonderful plan that I had never imagined. I am fortunate enough to be in the client list of Holistic. I have recommended Holistic to my friends as well.
Lionel Faber
Lionel Faber
16. September, 2021.
I've been availing their services for the past year. They are highly knowledgeable in the field and are very patient with all doubts and queries. Personalized financial planning is provided keeping your short term, medium term and long term goals in mind. They do not pressurize you to purchase schemes of their choice. They provide their input and suggestions and leave the decision up to you which shows their honesty and high principle.
Sridhar
Sridhar
8. September, 2021.
Financial planning brings peace in life. Holistic Investment have supported in arriving financial plan based on future goals. My investments are regular since then. They are professionals in their business, will recommend others.
Nitesh Agrawal
Nitesh Agrawal
6. September, 2021.
I have been using Holistic Investment Planners from last one year. The journey has been fantastic. Being a finance person myself I always thought we can look after and plan own finances also. However, due to lack of time and deciplain the things are not always as desired. After joining with Holistic Investment for the first time Icame to know the Financial goals and quantified them. Some dreams were unrealistic based on the earnings and savings so had a reality check. Also got the information and deciplain of investing on regular and more rewarding securities. I definetly suggest to use Holistic Investment Planners. They are professionals, available and hear youor full story before presenting plans. They are flexile in the sense if there are some urgent deviations required, they help to plan the same. For all professionals/individuals I would suggest using professional help of Holistic Investment Planners for best results in long term investment and financial goals achivements. Last advise will be to start early in your life. It really pays well to start in the beginning itself else the dreams needs to adjust :)
Swetha Vasanth
Swetha Vasanth
6. September, 2021.
This is my first year service with the Holistic Team and I would say that they are very much helpful in creating a financial plan and follow ups during the year. I would definitely suggest them if anyone who is willing to proceed with their savings professionally.
Joseph Mathias
Joseph Mathias
6. September, 2021.
I came to know about Holistic Investment Planners online while searching for different investment ideas. Once I contacted them the journey was very smooth. Mr. Ramalingam explained all the aspects of Financial planning in detail and it opened my mind. I realized how important it is to have a Financial planning. Mr. Rajan suggested all the requirements as per my goals and made a Investment plan keeping in mind of my goals. I started my Investment journey with them. I wish I had done it some years back then it would have been in a different level. Review meetings were held every six month to check the implementation of the plan and check the results as per the requirements and to check if any changes required. Overall it was a good experience with Holistic Investment team and would like to continue in the years to come.
Srinvas Kannan
Srinvas Kannan
30. July, 2021.
I came across Holistic investment planners almost 5-6 years back, but I did not have the trust since I had met a few of them who did not sound promising. Then I started investing through a financial advisor of my friend. After 4 years of investing the returns were very low. I was disappointed and started looking for financial advisors when I came across Holistic investment. I had a detailed discussion about my goals and the way they would approach achieving my goal before deciding to switch my investments to them. After a thorough analysis of my then existing portfolios, they suggested new ones and we zeroed-in on 6 schemes/funds where our investment would be split. I am glad I made the decision of switching over and taking Holistic planner's advise, my returns are handsome and I only wish I could have taken their help/advise 5 years back itself. Neverthless, I would like to recommend their services for investment and financial advise if someone is serious about their investments.
Shivaram Andiappan Selvaraj
Shivaram Andiappan Selvaraj
3. July, 2021.
I got a free first time consultation. I got my doubts resolved. They also gave additional advises for investment planning which was also useful.
Nellai B
Nellai B
26. June, 2021.
I have been associated with them for the past three years. They are very professional and polite in answering all our questions. I have complete trust in their suggestions. I strongly recommend for anyone. I am looking forward to have strong and successful association with them.
Google rating score: 4.4 of 5,
based on 61 reviews

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