In the world of finance there are numerous advantages of financial planning. There exists around several dozen benefits of personal finance but out of them there are some which are having more impact than others.
With SIP, you can invest a fixed amount in mutual funds over a period of time, step by step, monthly or quarterly, thus averaging your investment costs and benefiting from the power of compounding.
To encompass the ability to evaluate real-life financial situations with ease and understanding, teach the children financial concepts. Include money management, financial planning, and prioritizing wants.
Financial freedom is all about having control over your finances. In simple words, it is about having enough residual income to live the life you want, without any worries to manage a sudden expense.
