Planswell

Like any other problem, everybody faces financial emergencies. It affects the cash flow along with various financial management factors. As a result, many people can see major changes in their financial situation when they are hit with sudden emergencies.  For instance, take the pandemic as an example. It caused global financial distress, leaving many people bankrupt, unemployed, and homeless. It indicates that one can never be sure of what is coming. Therefore, the best preventative approach to such a situation is to stay prepared. This means making a financial plan with plenty of space for an emergency fund.  Understanding Emergency Fund Financial experts with years of experience, like Planswell , stress a lot over concepts like emergency funds. The concept of this fund is to set aside a sufficient amount for unplanned spending. It can be in various forms, and without an emergency fund, it can affect your overall financial management. One can also be compelled to borrow mone...

Are you feeling stuck financially? If you have wanted to improve your finances for a long time, there is still time, regardless of age. Over time there has been financial chaos globally. This is the result of inflation which is on the rise. A lot of people are struggling to keep up with the living cost.  Given this, many struggle with anxiety symptoms that circle around their finances. Therefore, experts like Planswell believe bringing awareness about the less discussed matter is necessary.  What is Financial Anxiety?   Despite being a major issue, financial anxiety is not often put out at the table of discussions. Why? It may be because society has recently been open to talking about anxiety. On the other hand, finances are a far-fetched concept rarely taught to young people while growing up.  A person ends up getting worried about their finances and ends up doing an unhealthy amount of research. In contrast, some people hide their worries through constant procrast...

Thinking of hiring a financial planner is just the start; the whole process demands a lot from you. As Planswell suggests, hiring financial planners can easily lay off your load. But, being cooperative and flexible with them would do most of the job.  Bringing financial advisors into the game is not just a one-time thing and an end of responsibility. The process starts with you being flexible and cooperative with everything they ask for.  So, here are a few tips that can help you get out the most of your hired financial advisor: You must be open, interactive, and honest with your financial advisor. You won't let them work properly if you stay shut about your expectations, overall revenue, expenditure, and why you have them onboard. Financial advisors are supposed to manage your finances most strategically and constructively. Keeping things from them can simply burden you even more.  You need to be attentive to what they advise you. Financial planners do not have limited ...

  A well-structured financial plan helps value every sale you make from your work. Therefore, it is necessary to do some critical thinking while making a financial plan. Creativity has the same value in your finances as much as it is needed in your work.  Therefore, in this blog, Planswell will help you find the idea of good financial planning. It does not have to be the most seamless structure, but it should be good planning that works perfectly for you.  However, financial planning is not very tough and will not require draining efforts. You can start your planning with simple efforts given below:  Start with the right questions Initially, you must prepare yourself by asking the right financial questions. This involves being aware of your spending habits. Through this planning, individuals can start making a plan by putting forward the most important financial goals.  Know your spending habits Understanding your cash flow as an artist is very important. It he...

Thinking about better financial savings than you did last Christmas? Obstacles may remain the same, but you can make your saving strategies smarter! If curiosity sparks in this statement, we have brought a list of strategies you can use.  Under the guidance of Planswell , Here are some of the best ways to save better in the months before Christmas. If you think, “ isn’t it a little too soon,” the sooner, the better results you will find.  Christmas Saving Lists Everybody Needs! Here are some of the best financial secrets to make the best saving outcomes! They are: Track your money It is essential that Christmas may seem too far to keep consistent track of your savings and income. With the best tracking of all your savings, you will have a better idea of how much cash you can spend on Christmas. The more you save, the merrier it is.  Budget your spendings  It is the fundamental step of saving. Keeping a good track of all your spending will help you determine if you ar...

As the Rich Dad, Poor Dad said, money may not be the most important thing in life, but it sure does affect every important aspect of it. That is why there is so much hype about money management. A person who can learn to manage money can sort out a maximum of its life. Planswell focuses on such areas which let you know the importance of money and how you can save more of it.  And as responsible parents, you should be eager to instill such habits in your child as well. But, how can you do this? Well, keep reading!  A Habit Of Saving  Suppose you are spoiling your child with worldly luxuries at the age of three. Chances are that your child will never be able to adapt to a lifestyle that demands a check and balance of finance. Saving is not just related to money, rather, it’s about discipline and adjusting. Hence, get your child a piggy bank of a savings jar, which encourages your kids to deposit cash or coins in it.  Instill Sharing Habits  A lot of money can be...

A step by step approach to meeting the goal of one’s life is financial planning. A financial plan behaves as an escort as you go through the journey of your life. A financial plan helps you be in control of your expenses and investments. It ensures that you manage your money and achieve your life goals. Here are 5 steps to creating a successful financial plan -  Think and understand your current financial situation -  This is the first step in financial planning. Financial planning provides you with the state of your finances and ways to improve. Explore the status of your present finances, viz., your income, expenses, savings, debts, and investments.  Note down your financial goals -  Ask yourself: “what types of financial goals would you like to achieve in your life? Write all the goals you want to achieve whether it is too small or too big. Don’t hesitate, make sure that your goals are specific.  Explore different investment options -  There are various ...

As we grow, we realize that money needs to be hard-earned. We also start to acknowledge the importance of planning. Goal-based planning is a concept of personal financial planning that helps set financial goals for different stages of life. Be it saving up for buying a house, your child’s higher education and marriage, or even your retirement fund.  These are all matters that will require saving, planning, and investments, which is why goal-based planning acts as a financial foundation for your life that waits ahead.  Why is Goal-Based planning important? Living a happy life is not a linear approach which is why your financial goals should not be linear too. You cannot fulfill all your requirement with a single saving. Thus, Planswell , an online financial advisor company, suggests that you will need to save in a smart way that can cover your child’s education, fulfill your dreams like buying a car or a house,  and at the same time help you save up good for your retiremen...