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In this policy, the investment risk in the investment portfolio is borne by the policyholder.
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Ref. No. KLI/22-23/E-BB/492
Strategic financial planning is a combination of setting financial goals, investing funds, protecting assets, and managing debts. To learn each aspect of building a strong financial foundation, you must read ahead.
Updated On: 28th July, 2023
Most people are concerned about accumulating wealth for the future however, only a few know the process of building a solid financial foundation. Smart financial planning and analysis can help you live a financially independent life without compromising your present needs.
It is always advisable to start strategic financial planning as soon as you start earning. However, if you have not managed your funds till now, do not worry, as it is never too late. Through this blog, you will get financial tips that will help you to save and invest your income in a better manner.
With the continuous rise in the graph of inflation, it has become a need of the hour to manage your income and expenses, considering future financial goals. Mentioned below are some financial management tips that will help you secure funds for your future:
The first step towards achieving financial goals is to create a roadmap that outlines the steps you need to follow. A financial plan streamlines the process and highlights relevant financial goals. Here are some key factors to consider while creating a financial plan:
Investment is a key to wealth creation. It helps your money to grow over time. Hence, you must invest a part of your income regularly. Here are some tips you can follow while investing:
Assets are the wealth you build over time. Hence, it is essential to protect them to achieve long-term goals. Have a look at the following points to protect your assets:
Try to pay off high-interest debts as early as you can. You can consider the following point while you plan to pay off your debts:
Seeking professional financial advice will be a valuable resource in managing your funds. If you wish to visit a financial advisor, consider the following points:
Building a financial foundation is a continuous process that requires regular savings and investment. By tracking expenses and allocating your income based on a priority set, you can lead a financially independent life. Therefore, it is important to start budgeting your monthly income and expenses to get financial security through different walks of life.
In this policy, the investment risk in the investment portfolio is borne by the policyholder.
Kotak e-Invest
Features
Ref. No. KLI/22-23/E-BB/521