FAQ's

Q1. I am unsure about my financial health. I don't know if my savings and investments will be enough to support my dreams. I am looking for an advice. Is there someone who can help me?

A. A financial health check up is all about Understanding a person’s financial situation. It gives you a report on the state of your monetary wellness. Getting a financial health check up done is very important to understand where you and your family stands today in terms of personal finance. It determines your income, ascertains the spending patterns and also helps you to know the level of savings you do. This diagnosis will help you know if your financial situation is under control and if all your savings and investments are enough to fulfill your goals. This analysis of your financial position will also help you in planning you future better by setting some goals and plans to go about achieving these goals.

There are many people who can give you advice on your personal finances. Some of them are Certified Financial Planner (CFP), Certified Financial Consultant, Certifies Financial Analyst (CFA) and Personal Finance Analyst. Or you can opt for Artha Yantra which a comprehensive 360 degree financial planning for an individual. We at Artha Yantra take pride in breaking one of the most common myths: “Only HNI’s get good quality finance advice” through our path breaking online financial planning platform ARTHOS.

 

Q2. I have made a couple of bad investments. And I feel like I am losing out a lot of money. How can I fix it? Is there someone who can help me?

A. The past always haunts you. Some of us are carrying the baggage of financial mistakes of the past which in turn are affecting our present and future commitments. Mistakes made in the past such as buying a wrong insurance or a few too many insurance policies, buying a home you couldn’t afford, buying too much on credit, borrowing from the place not suitable to you, trying to make quick money by investing without adequate research resources and knowledge. Though everyone wants to drop the baggage of all such mistakes, it is hard to get rid of.
The first step towards correcting these past mistakes is the willingness to accept the mistake. Until unless you realize and accept the mistake, it is hard to take steps towards correcting it. The next step ideally is to take some quality advice from a good financial planner. A good financial planner can help you get out of the bad investments and recommend the instruments that are best suited for you. This ensures that your investments work best for you. You can even try our online integrated financial platform Arthos that can help you by recommending the best in class funds ensuring that you don’t throw your good money behind bad investments.

 

Q3. Can I take care of my finances myself? Is there a way?

A. Yes every one can take care of their personal finance. All it needs is a little time, research and some knowledge about the different financial instruments available to you. Analyzing your expenses and net worth is the first step in financial planning. One must set some long term goals. Then you should go about finding an approach that is suitable to fulfilling your goals with putting you at risk. Investing your surplus helps you in financing the your kind of future. Do some research; educate yourself on the different kinds of investments that are available. If you haven’t done enough research then you are sure to fail in your financial endeavors.
There is one other way to plan your finances by yourself. Our online platform ARTHOS gives you the power to control your financial planning in a systematic and functional way. It mixes some expert knowledge with “do it yourself” sections, that help you plan your finances and keep track of them in a methodical manner.

 

Q4. I have made financial mistakes in ......, yes. But now where do I need to go? Especially looking at my kid’s education plan, I need to have a strong planning done for my financial aspects. Especially with kids education nowadays costing so much.

A. Past financial mistakes adversely affect your future. Because of your financial mistakes you might not be in a position now to save for your future goals. Bad investments do not provide any return on your capital investment; they sometimes may also deplete you capital investments thus leading to you having insufficient reserves to save for your future. Your retirement income that which you have planned for may not be sufficient to last all through your retirement due to bad investments.
Because of the mistakes in your past your future economic prosperity may suffer. This will negatively impact your long term goals, like saving for your child’s education. Child’s education, which is one of the critical aspects of financial planning, cannot be ignored. This is because it will have a crucial impact on the child’s future and his/ her career choice. Go to a financial advisor who can understand all your future financial needs and can fix your past mistakes to help you achieve your future goals.

 

Q5. I have made a couple of bad investments. And I feel like I am losing out a lot of money. How can I fix it? Is there someone who can help me?

A.  Refinancing is a fantastic tool that has been provided by the regulators for the consumers. When you refinance, you pay off your existing mortgage and create a new one. First, you have to check the payoff of refinancing. You should decide on how long you are going to stay at that home. It's not worth refinancing your house if you're only going to stay in the house for two more years. It is important as a loan holder for you look at your current loan and check if it is expensive. Refinance provides you with an option of moving away from your high interest rate loan to low interest rate loan. To refinance your home loan you have to shop around first to see who is providing a better option in the home loan department. Don’t mark off your current home loan provider. Do detailed research on all the aspects of a home loan and determine who can give you a better option for refinancing. If you are having difficulty or are not sure what to do we at Artha Yantra will be happy to help you.

 

Q6. Is there a way I could refinance my home loan?

A. The past always haunts you. Some of us are carrying the baggage of financial mistakes of the past which in turn are affecting our present and future commitments. Mistakes made in the past such as buying a wrong insurance or a few too many insurance policies, buying a home you couldn’t afford, buying too much on credit, borrowing from the place not suitable to you, trying to make quick money by investing without adequate research resources and knowledge. Though everyone wants to drop the baggage of all such mistakes, it is hard to get rid of.
The first step towards correcting these past mistakes is the willingness to accept the mistake. Until unless you realize and accept the mistake, it is hard to take steps towards correcting it. The next step ideally is to take some quality advice from a good financial planner. A good financial planner can help you get out of the bad investments and recommend the instruments that are best suited for you. This ensures that your investments work best for you. You can even try our online integrated financial platform Arthos that can help you by recommending the best in class funds ensuring that you don’t throw your good money behind bad investments.

 

Q7. After paying my EMI I am left with no money. I think the loan is very expensive. Is there a better option? Is there someone who can help Me?

A. Having an expensive home loan means paying out higher EMI’s. Paying higher EMI’s leads to not having any money left over for your personal needs. This leads to postponement in planning for your various other goals. This sets a perfect example of how one financial decision can affect various other aspects of your personal finance. Refinancing is one way to decrease your EMI’s. But before proceeding with refinance it is important that you assess the current outstanding amount, tenure of loan and the interest rate differential you are going to get once you refinance the loan.
Q7. I have absolutely no time; can someone take care of my finances?
A. We have developed a powerful online platform called ARTHOS just for the busy professionals like you. You can plan, execute and manage your personal finances for you and your family at your own convenience. ARTHOS gives you a comprehensive and unbiased analysis that helps you in keeping your finances under control.

 

Q8. Finances, my knowledge of finances is very limited. Where should I go? Is there anyone who can help me?

A. When we are interested in physical fitness, we join a Gym. Before we find a trainer who could coach us on getting fit we try to get fit on our own. Without any knowledge about fitness regimes and proper diet we will not be able to accomplish our goal of getting fit. Similarly in personal finance when we lack a proper understanding and knowledge of finance we will not be able to convert our dreams of various financials achievements to reality. First we need to translate those dreams into goals. It is important to find a good financial advisor for this purpose. A good financial advisor will always take your information that is very critical for the financial decisions and compile it in such a way that you are able to analysis your finance very easily. He will try to gain a thorough knowledge of your financial situation. He envisions a big picture and tries to understand your income, goals and the debt position before advising you on how to achieve your goals. He won’t recommend you specific actions until he has a thorough understanding of your needs. He is the one who advises you on the amount you need to save for various occasions which come in your life, retirement planning, insurance, tax waivers and the emergency fund you need to keep aside. Based on his advice a consumer can take informed decisions and overcome the issue of limited knowledge of finance.

 

Q9. There are too many financial products in the markets; I want to know which one is the best for me?

A. The abundance of financial products these days, offered both by domestic and global financial institutions, provides a range of new innovative options to invest and manage personal wealth. More importantly, a range of risks emerge, through the selection process and biases, i.e., questions on which products are relevant and which are not, in order to properly manage personal financial portfolios. Especially working professionals who are engaged in their day-to-day work-life balance and do not have time to focus on their personal investments and daily financial management, should be cautious about their personal financial risks.

Most of the professionals face this problem of not being able to choose the right financial products and commit mistakes which have stark affect on their financials. We advice them to approach a financial advisor, get their financial planning process in place and then decide on the products they want to invest in based on the goals they have defined for themselves.

 

Q10. I don’t have the time to go through the details of all the financial products in the market. I want an expert and a convenient solution which does that for Me?

A. We all have different financial needs. For which we need different instruments that help us save, invest, take insurance or debt based on those needs. These instruments are called financial products. There are many financial products in the market. We must know which one is good and bad for us. A financial expert who understands your needs can give you the best advice about the most suitable financial product for you. A good financial advisor will act on your behalf and chose what’s right rather that what’s most profitable. He takes into consideration your risk appetite and your investment term. A financial advisor will be up to date on the leading financial products and markets there by giving you the best advice suitable and possible.

 

Q11. I don’t have the time to go through the details of all the financial products in the market. I want an expert and a convenient solution which does that for Me?

A. We all have different financial needs. For which we need different instruments that help us save, invest, take insurance or debt based on those needs. These instruments are called financial products. There are many financial products in the market. We must know which one is good and bad for us. A financial expert who understands your needs can give you the best advice about the most suitable financial product for you. A good financial advisor will act on your behalf and chose what’s right rather that what’s most profitable. He takes into consideration your risk appetite and your investment term. A financial advisor will be up to date on the leading financial products and markets there by giving you the best advice suitable and possible.

 

Q12. Tax planning and the financial planning, I think they are the same. Is there any difference?

A. Financial planning is planning for finances in such a way that right amount of money is available to you and your family at the right time. It is a step by step process. The entire financial situation of you and your family is evaluated and based on the assessment of your current financial situation aligned with your future goals. Financial planning is all about having a holistic perspective of the financial future. The main ingredients of financial planning include investment planning, risk or insurance planning, child’s education planning, tax planning, retirement planning and planning for new acquisitions such as house or a car. As you can see tax planning is a part of financial planning. Every financial action will have certain tax consequences. Tax planning is all about saving tax in the current financial year. The major purpose of tax planning is only to gain tax efficiency using elements of financial plan. Government provides many tax incentives each year. It only focuses on minimizing tax liability.

 

Q13. Why can’t my C.A manage my finances?

A. The main striking difference between a C.A and a financial planner is their respective areas of expertise. A Chartered Accountant has expertise in Accounting, auditing, tax planning, corporate laws and management accounting, while a financial advisor has expertise in Retirement planning, investment planning, education planning, risk management, insurance planning, estate planning and cash-flow management. Tax planning forms the crux of the decisions being made by C.A if he is to manage the finances of an Individual. This often leads to investments that are not necessarily useful for an individual to achieve his goals.
A financial planner does an extensive research on the macro and micro economic conditions relates them to current state and risk tolerance capabilities of the individual and pave a plan for achieving their goals. While tax planning is important it is just a part of financial planning. Therefore a CA cannot manage your finances as he doesn’t have expertise in the fields that make up financial planning.

 

Q14. Savings, how to go about?

A. Savings is one such habit which is hard to start. We often make the resolutions surrounding savings and keep on postponing them. If you actually look at it the savings process is three fold. First, The willingness to start saving. Savings is more behavioral driven. Starting to save and keeping aside some money on regular is the most important part. People often find it difficult to start. The second step is once you have prepared yourself to start savings, deciding on the amount you are going to save. The third and final step is finding the suitable investments in order to make sure that your savings are being utilized in a systematic manner. Most people keep on postponing this process of starting saving and are unsure about the time to start. We recommend people to start saving as early as possible. The sooner you start more the benefits of compounding. A savings of 1000 per month for 35 years yields you more returns than savings of 2000 for 25 years. So you can even make an amount as less as 1000 rupees count if you start early.

 

Q15. As far as financial planning is concerned I strongly feel that there is a need to protect my family members against the financial distress caused due to enforcing Eventualities and uncertainties of life

A. Yes it is important to save your family from enforcing eventualities and uncertainties of life. This can be done with help of some life insurance and good planning. Life insurances help you counteract the risks of uncertainties of life. Having a good life insurance and health insurance in place is good planning. A financial planner does all of these. He plans for you and your family’s future by taking into considerations all kinds of risks.

 

p style=

About Us

ArthaYantra is an online financial planning firm dedicated to make unbiased, holistic and high quality financial advice accessible to everyone in India.

The financial advice offered by ArthaYantra connects all aspects of financial planning and helps individuals take holistic and merit based financial decisions to achieve their life goals.

Arthos is a patented online financial planning platform that replaces traditional human financial advisor and provides holistic advice instantly.

Quick Enquiry


 

Contact Details

India Office

Plot #319, Second Floor,
Ayyappa Society, Madhapur,
Hyderabad - 500081, AP, India
Phone: +91 -(40)- 40247106


US Office

WFA Global Investments
100 Park Ave, 16th Floor
New York, NY 10017
Phone:+1 -(646)-340-4751

JoomShaper