There is a famous quote which says that there are two things in life from which a person cannot escape – death and taxes. To those two, you can probably add one more, which is financial planning. You are often told that it is advisable to start saving and investing as soon as you start earning, and the sooner you start, the better for you in the short term and the long term, in terms of meeting your financial goals. -Condition. But the work of financial planning can be overwhelming. Also, while investing is an essential part of managing your finances, there are many other factors that you need to consider. apart from this,
Financial Planning
is an ongoing process that may evolve depending on your standard of living; This is not a one time job. Of course, you can always consult a financial advisor to guide you. But it is also advisable to be aware of the initial course of action required for effective financial management.

Towards that end, here are 8 basic tips that you can consider to help you begin your journey towards effective financial planning.

Disclaimer:

Useful information for investors: All mutual fund investors need to go through a one-time KYC (Know Your Customer) process. Investors should deal only with registered mutual funds, which are to be verified on SEBI’s website under ‘Intermediaries/Market Infrastructure Institutions’. For redressal of your grievances, you may kindly visit www.scores.gov.in. For more information on KYC, changes in various details and redressal of grievances, visit
mf.nipponindiaim.com/investoreducation/what-to-know-when-investing
This is an investor education and awareness initiative by Nippon India Mutual Fund.

The information provided here is for general reading purposes only and the views expressed constitute opinion only and therefore cannot be construed as guidelines, recommendations or professional guides for readers. The document has been prepared on the basis of publicly available information, internally developed data and other sources considered reliable. Sponsors, investment managers, trustees or any of their directors, employees, affiliates or representatives (“entities and their affiliates”) assume no responsibility, or warrant, for the accuracy, completeness, adequacy and reliability of such information. Recipients of this information are advised to rely on their own analysis, interpretation and investigation. Readers are also advised to seek independent professional advice to arrive at an informed investment decision. Entities and their affiliates, including persons involved in the preparation or release of this material, shall not be liable in any way for direct, indirect, special, incidental, consequential, punitive or exemplary damages, including loss of profit arising from the information contained reason is also included. in this material. Only the Recipient shall be solely responsible for any decision made on the basis of this document.

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