What will you learn from this book
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Financial Goal Setting: Discusses the importance of setting specific, measurable, achievable, relevant, and time-bound (SMART) financial goals.
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Budgeting and Expense Management: Provides strategies for creating and maintaining a budget, managing expenses, and controlling spending habits.
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Debt Management: Offers guidance on managing and reducing debt effectively, including strategies for debt repayment and avoiding excessive borrowing.
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Investment Principles: Introduces various investment options, asset classes, and investment strategies suitable for different financial goals and risk tolerances.
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Retirement Planning: Discusses retirement savings strategies, including pension plans, retirement accounts, and long-term financial security.
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Insurance and Risk Management: Explores the significance of insurance coverage, including life insurance, health insurance, and other forms of risk mitigation.
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Tax Planning: Covers tax-saving strategies, tax-efficient investments, and understanding the impact of taxes on financial planning.
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Estate Planning: Introduces estate planning principles, including wills, trusts, and inheritance planning.
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Emergency Fund and Contingency Planning: Emphasizes the importance of having an emergency fund and planning for unforeseen financial circumstances.
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Financial Literacy and Education: Provides resources and knowledge to improve financial literacy, enabling individuals to make informed financial decisions.
| Language | English |
|---|---|
| ISBN-10 | 9380200609 |
| ISBN-13 | 9789380200606 |
| No of pages | 230 |
| Font Size | Medium |
| Book Publisher | Network 18 Publications |
| Published Date | 01 Dec 2012 |
About Author
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When people hear the term, Financial Planning, they often confuse it with investment planning, portfolio management or tax planning. Some are immediately put off, as they simply do not have time to plan. They think of the process as complex and time-consuming; in fact, most believe they should think of a financial plan once they have enough wealth. There are many such myths about financial planning and its important to understand what financial planning really is. Any decision about money impacts your overall finances. In fact, deciding not to invest or not to plan is also a decision. Any decision that you take about money and that has an impact on your overall financial situation is financial planning. The irony is that most people do financial planning unknowingly and in an unstructured manner, whether it is buying insurance policies, or stocks, or investing in real estate or taking a loan. These decisions are generally taken in isolation, with no relation to each other, and without considering the impact of one decision on the other. So, why not do it in a structured manner? Financial Planning is the process of utilizing your Financial Resources in the best possible manner to achieve your Financial Goals. Financial Planning is not the same as Investment Planning or taking advice from a chartered accountant or a banker.
Financial planning encompasses several areas of personal finance such as:
Leonardo Da Vinci said “Simplicity is the ultimate sophistication" and this book is an attempt to make financial planning and personal finance simple for everyone.