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Financial planning process
made me confident
Every year Armed Forces Flag Day is observed on December 7.
In the run up to the , Priya Sankalp from the armed forces
family penned down for Flag Day this year, Swatantra in TOI
her own experience with financial plann ning and how she
and her two daughters are benefiting from the same.
Iam a survivor. That's how I describe myself. On December 5 last year, a
happy sunny morning left my world dark when I got the news that my
husband, Lt Col Sankalp Kumar, had attained martyrdom in a fidayeen
attack in J&K. Like most other Indian wives, I was almost totally
dependent on my husband's wisdom about everything financial that
matters in this world. Since that day , I was left on my own, with two
daughters aged Five and Eight, with a sinking feeling that from now on I
have to manage everything for all of us. I was all that my daughters
had. I vowed not to let his sacrifice go in vain and fulfil all his dreams
that he had knitted for all of us. At the same time, I also realised the
bleak and lonely future for myself I had to plan for that too.
The terminal benefits started coming in. During the Awards Ceremony at
Rashtrapati Bhawan, we, The Veer Naaris, were counselled regarding the life
ahead including management of our finances. Col Sanjeev Govila (retd), CEO,
Hum Fauji Initiatives, counselled me on the financial aspects there. He
patiently made me understand my future short and long term financial goals
relating to me and my daughters, and the liabilities in years to come. With
my limited knowledge of finance, I could only respond to him in emotional
terms with tears in my eyes. I told him things like wanting my elder daughter
to study fashion designing in France to do justice to her creativity.Anyone
else would have secretly laughed at it as an emotional outburst from a
widow. But he, as an adept financial planner, guided me into planning for our
three lives ahead through the financial maze and haze.
Over a period of time, with Col Govila's personal involvement and his
company's financial planners' help, I became aware of meticulously
planning for long term goals of higher studies and marriages for my
daughters, a house of my own, unforeseen medical expenses, car
replacements every eight years and a good life for myself as I would get
older. Short term requirements like school fees, household expenses,
domestic holidays twice a year with my children and an international
holiday once in 3-4 years were also planned and catered for in a way I
never thought was either important or possible.
The way money would flow in to me and expenses incurred every
month were calculated over the years and incomprehensible terms like
cash flows, inflation etc.
started making sense. Slowly I also started participating in the
execution of our financial plan. I understood how such a planning
would ensure that the money flows in to me at the right time, in right
amount and for the right purpose so that the seemingly distant or
unachievable dreams become concrete realities.
The biggest benefits that I have got out of the entire financial planning
process is that I have become more confident of my daughters' and my
future, and have started developing the confidence to look forward to
the future once again. I would've never thought it was possible, when
the tragedy had just happened or even till much later.
For details and bookings contact:-
Parveen Kumar Chadha… THINK TANK
(Founder and C.E.O of Saxbee Consultants & Other-Mother
Mobile No. +91-9818308353
Address:-First Floor G-20(A), Kirti Nagar, New Delhi India Postal Code-110015