Personal finance adeptly is the key to secure a bright future for your family. India, being a rapidly developing nation, is now open to the global market when it comes to investing money for the growth of business. Leading global players are featuring in the Indian economic scenario to capitalize on the huge demand for various products and commodities.
Hence, the scope for doing the business that really means is also increasing by leaps and bounce. Personal finance management has assumed all the more relevance at present market situation. Grab definitive information on personal finance management.
Looking for some useful personal finance advice. Take a look at this web portal to get the latest updates on various business as well as personal finance matters arraying from share market quotes to mutual fund investments. Know the latest market scenario and also read up interview excerpts of the topnotch business conglomerates. Refer to links such as the tax corner. to gain in-depth insight into personal finance. Subscribe to the newsletter to get round-the-clock information.
Take part in the forum discussion to share your views with other members.For all the investors and financial planners, it is very important to strike the right chord between capital maximization and taxation. Read up the judicial provision with regards to income tax calculation on short term capital gain. Check out the top stories and expert comments related to personal finance.
Also amass relevant information on personal loans, retirement benefits, credit cards and more. Get your personal finance related queries solved from the ‘Queries Solved’ section. Also cast your vote in the Poll Pe Bol column.
Personal Financial Planning
Personal financial planning is one of the most important aspects of personal finance. Personal financial planning can be done in the following 5 steps:
- The financial condition of an individual can be gauged by formulating balance sheets and income statements. The personal balance sheet calculates the assets on the one hand and liabilities on the other. Assets include car, house, stocks, and bank account. Personal liabilities include credit card debt, bank loan, mortgage etc. Information regarding personal income and expenses is listed under the personal cash flow statement.
- After having done a proper assessment of the financial situation, an individual can set up long term as well as short term goals.
- Once the goals are set, appropriate strategies should be formulated in order to fulfill the goals. This could be achieved by curtailing unnecessary expenditure or by expanding the income level by investing in stocks, real estate or other interest earning assets.
- For proper implementation of the financial plans individuals lack patience and perseverance and hence seek professional help from financial planners, investment advisors and lawyers.
- The financial plan of an individual should be monitored from time to time for reevaluation.
personal finance queries with efficiency and accuracy. Glean through personal finance articles, personal finance tips, personal finance advice and so on. See how you can invest your hard earned cash judicially to optimize the return. Find stock tips, extensive market analysis, personal funding, tax planning, money saving tips, business quiz and so on.
The personal finance planning helps us to understand whether our financial decisions have any impact on other financial decisions. If they are affecting any short term or long-term life goal then we can revise our decisions.