Personal finance, as the name suggests, is the process of managing the finances of you and your family. This process includes all the elements related to cash management, such as earning enough income, regulating your expenses, saving enough cash every month, investing in the proper channels, and protecting your funds. Also termed as a budget or financial plan that helps you secure a worry-free and safe future.

How investing with a personal finance expert would help?

10 Powerful reasons why financial planning with a personal finance expert – will get you where you want to be.

  • Income: It’s possible to manage income effectively. You need to calculate how much you make on an annual basis, which is inclusive of salaries, bonuses, pensions, and dividends. Once you have an exact figure, you can divide this amount into expenses, savings, and investments. A personal finance expert can help you derive the income and further plan the spend.
  • Spend management: The next element on the personal finance roadmap is calculating your expenses, which can include purchasing all the consumable products on a monthly basis. You can make payments either through cash or credit. Some of the vital areas where we spend money include rent, loan EMIs, mortgage payments, taxes, food, entertainment and travel, and credit card EMIs. Note, if the difference between your income and expenses is negative, you have a deficit. As a result, you should be able to properly manage your expenses so that you can follow good personal finance management.
  • Savings: Savings includes the cash left after deducting expenses from income. You save cash for future investments or spends. One of the most critical areas of personal finance, savings includes real cash, savings or checking bank accounts, and money market securities. An increase in cash flow allow you to consider investments to improve your overall financial well-being.
  • Family Security: One of the foremost and most accepted reason behind personal finance is ensuring the financial security of your loved ones. The various options like insurance coverage, pension plans and policies in place ensure financial wellbeing for your family.
  • Investment: Investments mean buying assets that you expect to generate a better rate of return in the near future. Some investments are risky; so you should analyze the market trends properly before making a decision. People usually invest in stocks, bonds, mutual funds, real estate, private companies, commodities, and art. Investing is a complex process and we would recommend you to seek the advice of professionals when you need to analyze the difference between risk and rewards.
    Investing with a personal finance expert will help you with your personal circumstances, objectives and risk tolerance. She ensures you do the right types of investments to fit your needs, lifestyle, and goals.
  • Lifestyle Management: The savings created in good times always prove beneficial in difficult times. For example, you can make sure there is enough liquidity and insurance coverage in case of a circumstance when you become unable to work or take a sabbatical or even if you need a break in general.
  • Financial Understanding: Investing with a personal finance expert will help you set measurable financial goals, you will understand the reason and impact of the same and at the same times you can assess and indulge into reviewing results. This gives you a whole new approach to financial understanding and makes you even more ready for a life of abundance.
  • Assets: A personal finance expert ensures that you have assets beyond the requisites. And she will help you evaluate and choose assets that never become a liability. The experts help in determining the real value of assets as well as they make you aware of hidden costs and expenses attached to settling/ cancelling or transfer of assets. She ensures that your assets never become a burden in future.
  • Protection: Personal protection includes all those products that protect you and your family when there is an unforeseen, adverse event. These plans comprise of life insurance, health insurance, and estate planning. Even this element of personal finance requires you to seek professional expertise and right futuristic decisions.
  • Timely & Ongoing Advice: Having a personal finance expert keeps you grounded and helps in achieving all financial goals for each life stage. Your financial expert can always provide truthful advices, transparent assessment and calculated risks to keep the losses a bay.

For an all-inclusive personal finance plan, you can take tips from personal bankers and investment advisors. They will understand your requirements and long-term goals and make a customized plan to secure your present as well as the future. The planning process is divided into assessment, goals, plan development, execution, monitoring, and reassessment.

Things to consider while hiring an advisor for personal finance in India

When you wish to employ the services of an expert who would guide you through the whole process of personal financial management, you can take the advice of a personal banker, wealth manager, investment advisor, insurance advisor, tax advisor, estate planner, financial planner, or insurance broker. Once you are clear about the categories of advisors and the jobs they specialize in, check online and from previous clients if they are reputable enough. You should hire only the ones who have authentic credentials. You should also be clear about their charges and compensation structure. Area-wise online searches are another great way to arrive at the best professionals in your vicinity.

If you understand all the aspects of personal finance, it is just a matter of time before you can start with your journey. You should remember that personal finance management is one of the key elements of ensuring a secure and happy future.

If you seek a personal finance assessment, feel free to connect our expert onboard here. You can also write to us on

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