Invest in some financial tips

For many people, financial planning is something at which they are totally at sea. Terms such as debentures, blue chips, stock funds and bonds mean precious nothing to them. But financial planning is something which is absolutely essential for everybody. Friday meets some experts who attempt to demystify the world of finance while also suggesting plans for people in various walks of life

Most of us uncomplainingly slog like the proverbial ant. But when it comes to planning, investing and saving for the rainy day, we are like the proverbial grasshoppers basking in the happy sunshine of here and now. A modest fixed deposit at a nominal interest or an apartment for the twilight years, and we think we are secure. Most of us refuse to look at the 'big picture'.

Why is it that when it comes to number crunching, most of us go into the ostrich mode, preferring to ignore reality till it may be too late? Why is financial planning an anathema to many - something to be left to the experts? 'Why break your head with figures, I have set aside a sum for the future and that is all I need to know,' is how we all like to think.

However, there is much more to financial planning than this. It is a new way of looking at life - chalking out goals in life, prioritising needs and managing finances to be able to live life comfortably.

And, every moment your family grows, your priorities in life shift, your needs change. If it is a home and a car at one stage, it is kids' education, a comfortable retirement, a medical or other emergency at another stage. There are other eventualities, like caring for elderly parents, a sudden loss of job and periods when one is unemployed.

How can a small sum stashed away in a recurring or savings account be your saviour for all seasons? Well, you need to sort out your priorities, set realistic goals and achieve those with sound planning.