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Financial planning process made me confident

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Financial planning process made me confident

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Financial planning process made me confident

  1. 1. 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.
  2. 2. Contd… 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.
  3. 3. Contd… 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.
  4. 4. Contd… 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.
  5. 5. Contd… 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.
  6. 6. For details and bookings contact:- Parveen Kumar Chadha… THINK TANK (Founder and C.E.O of Saxbee Consultants & Other-Mother marketingandcommunicationconsultants.com) Email :-saxbeeconsultants@gmail.com Mobile No. +91-9818308353 Address:-First Floor G-20(A), Kirti Nagar, New Delhi India Postal Code-110015