Paisa Sherpa - Personal finance and investment guide

Managing our finances is a challenging task to get the right balance between our income and expenses and keep some money for savings and investments. Whether you're living in a bustling city or a small town, it can be hard to figure out where your money is going, how to save, and how to invest. Some of us are stuck in a habit of overspending, failing to keep track our expenses, and then getting stuck in debt or feeling anxious about our future.  Is there was a way to take control of your personal finances? Budgeting is a good way to start. This budgeting guide will break down important concepts like creating a budget, tracking expenses, saving money effectively.  Understanding the Basics of Financial Planning Financial literacy is very low in India. However, our lifestyle spends are on the rise due to a more digitally connected youth, higher disposable incomes and reducing saving mindset, targeted marketing and changing consumer habits and preferences (like BNPL - buy now ...

Importance of Financial Planning The Importance of Financial Planning: Your Path to Financial Success Financial planning is extremely important in your personal finance journey. In fact, your financial journey begins with a sound financial plan, it is the first step . Whatever are your financial goals - be it buying your first house, saving for your children’s education, or ensure a comfortable retirement - a well-crafted financial plan is the roadmap to meet these goals. In this blog, we will look at the essential aspects of an effective financial planning process that will put you on the path to achieving your financial goals . What is Financial Planning?  Financial planning is the process of setting your financial goals, evaluating your current financial position - analyzing your income, expenses, savings, and investments, and taking steps toward the financial goals. In short, it’s about preparing a framework for your  financial decisions . An effective financial plan...