l/J-2, Chandi Vyapar Bhawan, Exhibition Road, Patna, 800001
Mon-Sun : 8:00 AM - 8:00 PM
+91 9835349232, +91 6123563039
Special Situation
The basic tenets of financial planning remain constant,but for certain lifestages, the plan needs to be customized.How should you go about your finances if you have just got married or have just become parents? How should you fund your children’s education? What if you are a single parent or have an irregular income?
Newly Weds
One of the most critical changes you encounter after tying the knot is financial reality.Single income can convert to double,but so can the debts;buying assets may become easier,but insurance liability could increase;your spending or saving habits could be a disastrous mismatch,but your long-term goals may be the same.While it’s not easy to find a snug financial match,it’s not impossible to home in on solutions either.You not only need to harmonise the different financial ideologies and habits,but also streamline individual finances to work towards combined goals.
New Parents
It’s hard navigating all the new financial responsibilities that come with starting a family. From handling new expenses to building savings, buying insurance, paying off debt, and investing for the future, it’s a lot to take on and there’s a lot of pressure to get it right.
Maybe you’re feeling overwhelmed and you’re not sure where to start. Or maybe you’ve already made a lot of the “right” financial moves, but you’re still not sure whether you’re on the right track for what you want out of life.
No matter what, we know that you want to feel confident about your financial decisions so that you can stop worrying about money and get back to the things you actually enjoy.
And our job here at Fincun is to make sure that you know how to take the next step and build a better financial future for you and your family.
Single Parent
If you don’t have a spouse income to fall back on, the first priority must be to build a contingency fund. Once this is achieved, begin investing in assets depending on the time period and risk profile.It is essential that you start planning early to take advantage of the power of compounding.Depending upon the investing horizons,long-term or short-term,investments could be made accordingly.It is crucial for single parents to take a large term cover as well as health cover.
An aspect most single parents overlook is to build a retirement corpus.You need to make a fine balance between your child’s goals and your own future.Your responsibility doesn’t end till you ensure that after your death,your assets are rightfully passed on to the child,especially if he is less than 18. So making a Will outlining how your assets are to be used and appointing a guardian is essential.
l/J-2, Chandi Vyapar Bhawan, Exhibition Road, Patna, 800001
Mon-Sun : 8:00 AM - 8:00 PM
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