Planswell

April is soon to come with the reviews of your finances. Wondering why? It's the financial literacy month in which people analyze their financial performance.  Also, it offers the opportunity to learn financial skills and visit financial planning firms like Planswell , which helps them improve their finances.  As this is about financial literacy month, we are here to improve financial literacy. So, don't feel bad even if you are unaware of financial literacy.  Keep reading this post to learn the important edges of financial literacy. We will also discover tips to improve fiscal health during this month.  What Is Financial Literacy? Financial literacy is about understanding the importance of financial planning and using skills to improve your financial situation. This includes personal financial management, budgeting, investing, and target financial goals.  What Do You Know About Financial Literacy Month? Financial literacy month is a time when people should take...

From building an estate to going on an international trip, everyone has their own reasons to save. However, goals like retirement stay the same for every person. After all, it is necessary to save for the future. Considering that, this post will cover the common and helpful tips to land you on the safe side for your after-retirement days. Moreover, professionals like Planswell always suggest being prepared for finances beforehand. So, let us get started, shall we? Get Started Now The ideal time to begin saving is today, so if you haven’t started planning for your retirement, do it now. Automate Your Savings Make contributing for retirement the first thing to do after receiving the paycheck.  Discuss With Your Significant Other From mortgage to your favorite car, you share many things with your significant other. So why not plan together for retirement? Control the Spending Go through your budget and see the areas where you have been splurging relentlessly. Spend, but wisely. Use t...

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...

Asking for monetary help is an inevitable factor in life's uncertainties. Be it for a home loan, personal loan, or educational loan. The idea of taking out a loan is often viewed negatively.  This is mostly because of the understanding that a loan comes with a responsibility to pay it back on time. The bigger the amount, the more responsibility.  However, getting financial help is sometimes a good thing if you are someone who can pay it back. But, taking financial help often can only increase stress. If not managed well, eventually, it can lead you to the debt trap.  Therefore, experts like Planswell suggest taking only the amount you can pay back is wise. But what is a debt trap, and how can you prevent it? You can find the answer through this blog.  Understanding Debt Trap A debt trap is when a person is compelled to take new loans to pay off their existing loan amount. This is a common case that individuals face if they surpass their time to pay off their debt. O...

The financial situation surrounding the Millennial and Gen Zer generation indicates better financial planning awareness. Today the Millennials are having a hard time moving out of their parent's house, while Gen Zers have high student debts.  Undoubtedly, both generations are quite well-versed in technology. However, the ongoing housing and student loan issues signify the financial obstacles they are facing. Financial problems exist for any generation and individual, but good planning and execution can also help.  Planswell , a certified financial advisor's organization, states that financial planning is the foundation of strong finance. It can help people transform their financial dreams into reality and help clear loans at the right time.  So how can millennials and Gen Zers benefit from a good financial budget? It will help them overcome the present financial dilemmas and set a clear financial future. Read more of this blog to enhance your understanding of the benefits...

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 ...

Marriage is a constant effort of mutual understanding and respect for each other. But when the spark is dead for a long time, no marriage counseling can help. It is a very tough process to deal with emotionally and financially.  Financial struggles during divorce are a practical issue that almost every couple deals with. Couples form a joint account in the flow of many emotional commitments. Therefore undoing the accounts of such two individuals can be tough work.  However, managing divorce finances is not an easy job. This is because everyone has a different reason for divorce. There is a need for a proper expert’s consultation who can give the right guide for the situation of divorce.  Planswell , a financial planning organization, suggests sorting out finances is the initial requirement of getting a divorce fund. Below are some tips to get a fair financial division in a divorce.   Collect All the Documents This is a process that takes a lot of time to proceed. The...

  Are you familiar with the wise person who once said that money is not the secret to an individual's happiness? Despite that, you cannot deny the role financial planning can play in your life. Moreover, if you have just started earning, it is necessary to plan your financial activities from that moment. The experts of Planswell often guide their clients with the right measures. However, you also need to know the most common mistakes you might make accidentally. So, let's dedicate this blog to learning about the same, shall we? No Financial Planning  Thinking that you have enough time is one of the common mistakes people make with major decisions. The mistake and impact are the same in financial matters, as many young adults think they have enough time to plan. And then, all they do is SPLURGE! You must divide your income in a 5:3:2 ratio, spend 50 percent of it on essentials, 30 percent on your entertainment, and the remaining 20% on savings.  See investment and insuran...

It’s not easy to achieve financial success as it may sound. Most people lack the knowledge and ideas to accomplish financial planning. There is no balance between spending and earnings, which minimizes the chances of gaining financial success.  However, Planswell can help you achieve financial success by suggesting the best alternatives. You can have a great financial plan and methods to make it happen. So, why not start it from today? Here are a few tips that can bring about simple lifestyle changes, and it’s not that you don’t know them already. Consider them as a gentle reminder!  Spend Less Than You Earn The first rule to financial success is spending a limited sum of your earnings. If your spending is more than your earnings, then certain things are likely to go out of your favor. It doesn’t matter how much you earn every month, but you should not spend it all. A certain portion of your monthly salary should always be taken aside.  Follow Your Budget Financial succe...

As we are introduced to financial planning, we learn about saving up as an essential step. It is necessary to stash a good amount of your earnings to save for any emergency. This gives you confidence for your future.  Financial saving is essential for buying a home, preparing your child’s college fund, or saving up for retirement. Therefore, there are various saving plans that you can choose from. Give this blog a read to get the right saving concept to support your financial needs. With the help of Planswell , a financial firm, get an expert’s review! How to Choose The Right Saving Plan There are many factors to consider while you are planning to choose the right savings plan. It includes considering what your financial goal is for the long run. On the other hand, you can compare various savings account options to get the right one for you.  So without further delay, let’s learn about various saving account options! Types of Savings Account The regular Saving account A regula...

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...