![]() ![]() The experience has been nothing short of eye opening. “I am learning to use net banking and payment apps. Now under her employer’s guidance, Devi is learning the concepts of saving and investing. While Devi knows how to read and write, she acknowledges that she could never muster the courage to actually step into a bank. Had it not been for my employer, I would have continued to be dependent on cash and now that I am capable of using basic banking services, life has become simpler.” There have been times when I have thought of opening a bank account but going to the bank and fulfilling all the formalities seemed a very daunting task. “My employer is a lady who works at a bank and she was kind enough to take me with her to the bank and get an account opened. Once Devi was able to go back to work, one of her employers took the onus of opening a bank account for her and teaching her the basics of banking. Thankfully, all my employers arranged ample cash for me – in fact they gave me extra money so that I could manage till the lockdown restrictions were eased,” she reminisces. I did not have a bank account then and whatever little savings I had was also in the form of cash. A few days after the lockdown was imposed, I was in dire need of cash. ![]() At the end of every month, my employers pay me cash and that is what I rely on to sustain myself. “I earn my living by working as a household help in three houses. If you are looking at helping a less privileged woman, make sure to teach her the basic tenets of investing after you are done familiarizing her with the basics of using financial services. When the first wave of the coronavirus pandemic hit the country and the government imposed a stringent lockdown to curb the infection, Devi found herself in a fix. Kumari is a widow and lives alone – her children have moved to different parts of the country in search of work. ![]() Though they can start with only a bachelor’s degree, their chances of success improve when they get Certified Financial Planner (CFP) certification, and a master’s degree can help prepare them for management positions.46-year-old Sumitra Devi is employed as a domestic worker at an upscale residential complex in Patna. By providing guidance on everything from college tuition savings to retirement and estate plans, they can help clients manage their finances responsibly through every phase of life.Īccording to the Bureau of Labor Statistics, personal financial advisors make a median salary of $87,850 per year and their job growth is expected to climb steadily as Baby Boomers enter retirement. If you have both an acumen for financial planning and the desire to help others, you may want to pursue a career as a personal financial advisor. ![]() This, in turn, empowers you to take control of your career path in the pursuit of your greater life goals. Whether you manage a rural organic farm or develop state-of-the art urban housing, financial planning skills can help you manage your earnings with intention. Chevron Right What kinds of careers can I have with financial planning skills?.Creating good investment habits early in your career can allow your hard-earned savings to compound over time and set you up for the success you want later in life. The younger you are, the more important this process can be. Then, whether procuring a business loan, life insurance, or setting up a retirement strategy, financial planning can be a constant companion through your life. With your expenses covered, extra income can be put into savings and low-risk investments to provide a stable foundation for the future. Managing your personal finances starts with making sure that you can budget your income to cover your expenses. This set of skills is important because it helps you meet your financial obligations in the present while you envision how to achieve the future life that you desire. Financial planning is the process of setting monetary goals - both short- and long-term - and developing a strategy to reach them. ![]()
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