I was talking to my client’s friend, Rohan, who informed me that he earns ₹80,000 a month. By the 25th of every month, his bank account balance almost dries up.
He is not overspending intentionally. He has some investments. He even bought a few mutual funds after hearing from friends.
But still, he feels:
- Where is my money going?
- Am I doing the right things?
- Will I be financially secure in the future?
If this sounds like you, you are not alone.
I come across many young clients who earn well but still struggle to manage their money. Over time, I realised that it is not because they lack discipline, but because they don’t have a clear plan.
This is where getting the right help with managing personal finances can make a real difference.
Common signs you need a Financial Planner
You don’t need to be “rich” to need the help of a financial planner.
You may need a financial planner if:
- You miss bill payments or EMIs
- Your savings are not growing
- You feel confused looking at your bank account
- You invest randomly based on tips or trends
- You are unsure about retirement or long-term planning
If you relate to this, it’s worth understanding how to choose the right financial plan for your situation.
Benefits of expert guidance versus making your own budget
You can manage money yourself. But most people don’t have the time or clarity.
A financial planner helps you:
- Track where your money is actually going
- Identify unnecessary expenses
- Plan investments based on your goals
- Avoid common mistakes
For example, many people invest in random mutual funds without understanding how they fit into their portfolio.
Learn the basics of mutual fund investment in India before you invest.
Over time, the right guidance can help you:
- Build wealth faster
- Reduce financial stress
- Stay consistent with your plan
Understand your Financial situation
Before taking help, you need a clear picture of your finances.
Gather essential Financial information
Start with simple things:
- Bank statements
- Loan details (home loan, personal loan, credit cards)
- Salary slips
- Insurance policies
- Investment details (mutual funds, stocks, PF, etc.)
This gives you a complete view of your money.
Calculate your Net Worth and Cash Flow
Net worth = What you own – What you owe
Assets:
- Savings
- Investments
- Property
Liabilities:
- Loans
- Credit card dues
Cash flow = Income – Expenses
If expenses are higher than income, that’s your first problem to fix.
Identify your Financial goals
Break your goals into:
Short-term (0–2 years):
- Emergency fund
- Travel
- Paying off credit cards
Long-term (5+ years):
- Buy a car
- Buy a house
- Become financially free
Many people invest without goals. That’s where mistakes start.
Core Elements of a Personal Finance Plan
Basic Budgeting
A simple way to manage money is:
- 50% – Needs (rent, groceries, bills)
- 30% – Wants (lifestyle)
- 20% – Savings & investments
This is just a basic starting point. You should customise it as per your situation.
Emergency Fund
You should keep savings equivalent to at least:
3 to 12 months of expenses
This protects you from:
- Income loss
- Medical emergencies
- Unexpected expenses
Loan Management
High-interest loans (like credit cards) can destroy wealth.
You can use two simple methods to manage your loans:
- Avalanche – Pay highest interest first
- Snowball – Pay smallest loan first
Invest for Long-term goals
If you want to build wealth, you need to invest in assets that have the potential to provide high return to beat inflation such as equity.
Start by understanding equity mutual funds and how they work.
Also, avoid investing in trending options like NFOs without proper guidance.
Read about what is NFO in mutual fund before investing.
Insurance and Risk Protection
Many people either:
- Buy too much insurance
- Or don’t have enough
You need to start by taking:
- Health insurance
- Term life insurance
How to choose the right financial professional?
Obviously, all professionals are not the same. You should check if the professional is:
- In full time practice – A very small number of professionals are involved in full-time practice in India. Your hard-earned money deserves only such serious professionals, not the ones who are doing it part-time for earning extra income.
- Qualified – like a Certified Financial Planner® (CFP®), globally recognized highest qualification in the financial planning field.
- Experienced – someone with 10 years of experience across aspects like mutual fund, insurance, or taxes, not only in one particular aspect. You will need guidance across various aspects as time passes by.
- Active Online Professional presence – like on LinkedIn so that you can go through their profile and background.
What are the red flags to avoid?
- Talks mostly about products
- Lack of transparency
- No clear process
What are the questions you should ask?
- How will you plan my investments?
- How often will we review?
- What are the total costs?
- How do you decide asset allocation?
How to start working with a Financial Planner?
You don’t need to overcomplicate this.
Start with:
- Listing your income, expenses, and loans
- Write down your top 3 financial goals
- Be honest about your financial habits
Then speak to a professional.
Not sure where to begin?
Book a Free Consultation
Get clarity on your finances and a simple plan tailored to your goals.
Quarterly Review Checklist
Once you start, review regularly:
- Track your savings and investments
- Check your loan reduction
- Update your net worth
- Adjust your budget if needed
- Review insurance cover
Consistency matters more than perfection.
Why do most people still struggle?
Even after reading all this, many people don’t take action.
Because:
- They feel overwhelmed
- They delay decisions
- They don’t have guidance
That’s where professional help makes a difference.
How does Zenith Finserve help you?
At Zenith Finserve, we put your interest first.
We help you:
- Understand your complete financial picture
- Build a goal-based investment plan
- Avoid common mistakes
- Stay disciplined over time
Are you thinking about getting help?
You don’t need to figure everything out alone. A small step today can save years of confusion.
FAQs
How much does a personal financial planner cost?
Planners typically charge either a flat hourly fee (around ₹2,000 to ₹5,000) for a consultation meeting, or a one‑time project fee up to ₹1,25,0000 as decided by SEBI, depending upon the scope, or a percentage of assets under management (usually around 1% per year) At Zenith Finserve, our charges are in line with the industry standards.
Can I manage my finances myself after an initial professional setup?
Yes. Some people create a plan, then rely on budgeting apps or spreadsheets for day‑to‑day tracking. Stick to the framework set by the planner, review the plan on an ongoing basis, and seek expert input when major life events or market changes occur. Though, most choose to let the planner manage everything as they find it overwhelming.
How often should I meet with my financial planner?
It depends upon the need but most planners suggest a quarterly or semi-annual review to monitor, adjust cash flow, and address goal changes. Some clients meet annually if their situation is stable, while major life events may need extra sessions.
Are there free resources for budgeting and loan payoff?
Yes. The NISM and SEBI publish free guides on budgeting, credit‑score improvement, and loan repayment strategies. Moneycontrol offer free expense‑tracking versions..
