Financial planning is the process of creating a roadmap for your financial future by setting specific goals, evaluating your current financial situation, and developing strategies to achieve those goals. It involves assessing your income, expenses, assets, liabilities, and investments to create a comprehensive plan that helps you make informed decisions about how to manage your money effectively.
Financial planning covers various aspects of your financial life, such as budgeting, saving, investing, retirement planning, tax optimization, insurance, estate planning, and more. It involves creating a budget that outlines your income and expenses. This helps you manage your spending, avoid overspending, and ensure you allocate funds to different aspects of your life according to your priorities. The Ginger team got a great opportunity to meet Mr. Aneesh Kumar, who holds the position of Head of Corporate Relations at Moneytrail Securities Pvt. Ltd. During the meeting, he provided insightful guidance on achieving financial independence.