Nasim Siddiqi research has been focused on banking, financial services, property and project management field, particularly with respect to the application of environmental assessment at the project and strategic levels.

1. Nasim Siddiqi
Everything You Need To Know About
Financial Planning

2.  A financial plan enables you to construct a road
map to achieve all the financial goals. It also helps
you build your contingency fund for any
unforeseen needs that may arise.
 Financial planning is a holistic exercise to evaluate
your current and future financial standing and
thereby enabling you to achieve all your goals in a
systematic manner.

3. Defining Financial Goals:
 The primary objective of financial planning is to
help you achieve your financial goals.
 Start by listing them down into short term (up to 2
years), medium term (from 2 to 5 years), and long
term (above 5 years).

4. Start with a budget:
 Budgeting is the process of creating a balanced
formula on how to make optimal use of your hard-
earned money.
 Simply put, a budget is an itemised summary of
the anticipated income and expenses for a given
period, say a month. It will help you keep your
expenses in check and keep you out of debt.

5. Keep a contingency reserve:
 An essential component of a solid financial plan is
creating an emergency fund (also called a
contingency fund).
 As you know, life is uncertain and emergencies
such as loss of job, hospitalisation of family
member, loss of assets, etc. can occur at anytime.

6. Asset Allocation is the key:
 Asset allocation is the foundation of financial
planning.
 A right mix of equity and debt will help you
achieve your financial goals in the time horizon
you planned.
 At the same time investing too less in equities
could slow down your portfolio growth. Making it
incapable to keep pace with inflation.

7. Review your financial plan regularly
 A regular review of financial plan increases the
possibility of fulfilling goals.
 This helps you to incorporate personal or
economic changes if any.
 It helps keep a check on whether these
investments will help you in achieving the targeted
goals.