Title: Need Analysis of Sustainable Financial Planning Advice By Examining The Financial Literacy Levels Amongst Individuals
Abstract:Financial Planning is the process of channelizing one’s financial resources towards one’s financial priorities, with the aim of achieving them in most effective manner keeping uncertainties into consi...Financial Planning is the process of channelizing one’s financial resources towards one’s financial priorities, with the aim of achieving them in most effective manner keeping uncertainties into consideration. The Sustainable Financial Planning is a comprehensive and holistic approach of managing the money available with the individuals while considering all important factors to attain stress-free and peaceful financial life. The Sustainable financial planning covers all the facets of financial planning, right from managing day-to-day expenses up to having a succession plan in place.It has been observed that from decades the financial literacy level has been very low in a country like India. Indians are always considered as great money savers, but not so great investors or planners. Current financial industry is driven more by various complex financial products and less unbiased financial advice. Hence, it becomes very difficult for an individual to take decisions without sound financial knowledge or at least a good advice.This paper studies the current need of sustainable financial planning advice to the individuals by examining the financial awareness and literacy levels with the help of personal interviews, questionnaire and other secondary data available from various sources.Read More
Publication Year: 2016
Publication Date: 2016-01-01
Language: en
Type: article
Indexed In: ['crossref']
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