That Indian urban consumers do little about securing their financial future is a well-established fact. For instance, a recent study by HDFC Life and Value Notes pegged The Indian Urban Consumer's Financial Planning Index at 62.7 on a scale of 100, which is quite low.
Just like any event - be it a family function or an office party - where leaving things unattended creates a mess, ignoring financial planning can have consequences for your future well-being and peace of mind.
"What if you die tomorrow? What if you fall sick and have to spend a lot on your treatment? What if you lose your job? These things can happen to anybody," says Vidya Bala, Head, Mutual Fund Research, FundsIndia.com. "Financial planning cushions you from these shocks and ensures that you have a road/direction to fulfil your goals and aspirations.
