Financial plan Knowledge Bank (2024)

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Financial Planning is the long-term process of wisely managing your finances to help achieve your Financial Goals, while at the same time negotiating the financial barriers that inevitably arise in every stage of life. Remember, Financial Planning is a process, not a product. Financial Planning is the process of developing a personal roadmap for your financial well being. The inputs to the Financial Planning process are:

1. your finances i.e. your income, assets and liabilities
2. your goals i.e. your current and future financial needs and
3. your risk profile

The output of the Financial Planning process is a personal financial plan that tells you how to use your money to achieve your goals, keeping in mind the crucial aspects such as inflation, expected returns and taxes.

FinPlanYadnya is a DIY (Do-It-Yourself) Knowledge Bank or say a Knowledge Book of Financial Planning. It is a one-stop-shop for complete process, all queries and templates/calculators required for personal Financial Planning.

Now, more than ever, planning is the essential first step towards financial well-being. A good Financial Plan along with sound financial advice can help to make your financial future more manageable and finplanyadnya helps you in both – making a Financial Plan and giving you right financial advice.

Following are its key features –

1. Complete step-wise Financial Planning process.
2. Every process and concepts are explained in simple language with Examples & Case Studies.
3. 15+ Financial Planning Calculators and 20+ Templates.
4. Always updated with latest information about Income Tax, Insurance numbers,Inflation numbers, Returns, etc.
5. Real Case studies published regularly.

Do you have any of these questions in your mind?

1. Can I Retire early?
2. How much EMI is enough for my family?
3. How much should I invest for my important goals – Child Education & Retirement?
4. Which assets should I choose to invest?
5. I have retired and got a large EPF/ PPF corpus, what should I do with it?
6. Can I buy a 2BHK instead of 1BHK?
7. Can I upgrade my Car now or should I wait?
8. What is my Risk Profile?
9. How much Insurance is enough for me & my family?
10. Is my current Insurance plan good?
11. Should I prepay my loan with my assets?

If you have any of the above questions in mind, then you need FinplanYadnya It helps you solve these and many more such financial queries you may have.

Money management or Financial Planning is not a rocket science and you don’t need a financial degree to do it. You only need a basic knowledge and little commitment.

FinPlanYadnya takes you through complete journey of Financial Planning, which would make you capable of understanding the basics and will guide you further to your Goals achievement. The concepts are created in simple language, keeping a layman in mind. It also contains lots of examples and infographics. It helps you in –

1. Budget Planning
2. Risk Assessment and Planning
3. Insurance Planning
4. Tax Planning
5. Investment Planning
6. Retirement Planning
7. Goal Planning
8. Estate Planning and much more….

All the topics which are necessary for understanding your money, creating your Financial Plan, implementing it and reviewing it and doing complete money management are covered in this Knowledge Book. Here is the list of main topics which are covered -

• Investment Basics
• Introduction to Financial Planning
• Current Financial Plan status – Cash Flow Statement, Net Worth Statement & Current Asset Allocation
• Risk Planning – Contingency, Life, Health & other Insurance Planning
• Financial Goals with Calculators
• Convert your Financial Goals to Plan
• Financial Assets – All Financial Assets discussed – Cash, Equity, Debt, Gold & Real Estate
• Financial Plan Implementation
• Financial Plan Review
• Goals Reached – What to do, when you are near your goal?

You may please click here at FinPlanYadnya to see a detailed Content Index.

Yes, it is updated regularly, weekly updates are published on the portal/ app. and these updates will also be rolled out via emails regularly to the subscribers. Following are various types of updates -

• Real life case studies
• New templates & calculators
• Changes due to government regulations or budget tax changes
• Major changes due to change in market conditions like Inflation, expected growth etc.
• Changes in Life & Health Insurance company & plan recommendations
• Asset updates
• New infographics, examples and takeaways

We have uploaded and will keep uploading new Calculators and Templates for various calculation purposes. All the Calculators & Templates are in MS Excel or MS Word format. You can simply download them from our library or from our specific article and insert your numerical details and get the easy access to the calculated solutions and create your own Financial Plan. Some of such calculators and templates are:

• Retirement Goal Calculator
• Home Loan EMI Calculator
• Net-Worth Calculator
• Cash Flow Statement Template
• Asset Allocation Template
• Risk Profile Assessment Questionnaire

This knowledge book was NOT built from perspective of passing CFP (Certified Financial Planner) or RIA (Registered Investment Advisor) exams. But we have come across many students who find this book very simple to understand and have helped them a lot in passing these exams due to easy to understand examples, simple language and updated information.

But please remember, this book alone may not be enough. You may use it as a reference book.

Yes, lot of information is available on web, but it is all scattered in different websites. Many of these websites are global websites with information not too relevant to India. Here are the reasons, why you should subscribe to FinPlanYadnya -

1. Most important reason is that FinPlanYadnya provides all the important information at one place in both web & mobile format.
2. Other important reason is that all the information we have written here is from perspective of Indian geography. All assumptions, expectations, goals, etc. are worked for Indians.
3. Our FinPlanYadnya takes you through all the information that is necessary for a layman to understand. We update it with various techniques and thumb rules for you to easily apply to your finances and know your status.
4. You can work right from understanding your risk profile to creating a complete Financial Plan.
5. Based on your financial status, you can plan your strategy to grow further. For example, you may have an object of wealth creation, but have been only investing with the only purpose of Tax Planning. FinPlanYadnya guides you step-by-step covering all the necessary aspects.
6. Information is presented in very simple language with lot of examples, takeaways and infographics, which you may and may not find on web.
7. You can find various case studies available at one place.
8. Information explained with lot of videos.
9. Advanced Search in the app and portal helps you finding information with lot of ease.
10. Mobile app helps you quick and offline access to information at your fingertips.

There is no website or application which gives you Financial Planning information in such structured way and gives all information at one place. There are CFP (Certified Financial Planner) and RIA (Registered Investment Adviser) study materials available at much higher cost but they are built from the perspective of passing the exam and not for helping an individual to create his/her own Financial Plan.

FinPlanYadnya is a very structured & process oriented knowledge bank which gives all the information at one place. All the information is created by keeping Indian geography in mind.

We have provided the content in simplest manner and have explained it with lots of examples, infographics, takeaways and videos. We keep on updating our content as well as rolling out new articles and calculators and case studies, for your understanding. We have also explained various cases citing examples for understanding the calculations and logics. All the content is created by SEBI registered RIAs and is based on vast experience in Financial Planning field by our founders.

You may also suggest us the topics, by writing to us at [email protected]. We will write on your suggested topics.