BBA In Financial Services and Planning: Everyone has a set of life goals that they wish to achieve. These goals can be academic, societal as well as financial. Financial planning refers to the act of managing our finances. Managing finances is an essential aspect of our lives, and it can help us achieve many of our life goals faster. Financial Planning helps you take charge of your income, investments, and expenses to help you manage your money better. Whether you are a student, a business owner, or a salaried individual, managing finances is essential to sustain and improve your standard of living.
Managing finance with BBA
Managing finances wisely can help us attain life and financial goals that include:
Setting aside savings for a rainy day, including emergency funds, continuing or enhancing our standard of living, managing monetary assets for better returns; saving for retirement, and saving for life events such as marriage, starting a family, building a home, etc. Financial planning is vital for both individuals and organizations alike. Organizations require financial planning to improve their efficiency in financial management and daily operations. They need professionals who can prepare budgets, advise on projects, and perform risk management so that the company improves its bottom line and is rapidly on its way to higher profitability. Startups and MSMEs often need these services as they experience rapid business growth during their formative years.
In our busy lives, many of us do not find the time to research and understand the intricacies of the financial world. This leads to us turning to self-styled financial experts or money managers who help us invest our monetary assets in a structured way. For this, we often use the services of brokers, agents, or financial planners, as they are domain experts who can help us better manage our money. Organizations turn to financial service providers who act as domain experts and help them manage risk and attain their financial goals in a structured manner.
Future Scope of BBA in Financial Services
Most financial advisors often invest money where it is most beneficial to them, as they liaison with banks and financial institutions to promote financial instruments with high commissions. Additionally, many financial planners and wealth managers we encounter might not even be qualified or experienced enough to manage our money in the best possible way.
Organizations are often left in the dark by chartered accountants, who are their traditional source of financial wisdom. Chartered accountants only provide services related to audit and taxation and cannot effectively act as business advisors.
A professional degree in financial services and financial planning, such as a BBA from Chitkara University, ensures that budding finance professionals get industry-relevant, practical training that helps them to become sound financial planners and business advisors. A professional bachelor’s degree (BBA) in financial services is aimed at equipping the candidates with the tools necessary for financial planning in the current economy.
The candidates pursuing this program experience the nuances of working with startups and MSMEs and the related contemporary skillset to devise strategies for these businesses.
Additionally, the recent spurt in foreign investment in insurance, disinvestments in public sector units, and a renewed focus on nurturing MSMEs and startups have made the demand for financial professionals soar. Financial service providers and financial planners who understand the tools of the trade and are well-equipped to help organizations of all sizes can help their clients take advantage of these economic reforms and boost their ROI.
BBA in Financial Planning
Those opting to work as financial planners could not have chosen a better time for this specialization. With falling bank deposit rates, India’s risk-averse middle class and upper-middle-class are moving towards risky assets such as equity that require due diligence and planning before investment. This means those with a BBA in Financial Planning lead a forward-looking workforce that is ready to embrace the changes in the Indian investment space and help individuals manage their money better.
The Indian economy is experiencing rapid changes due to the forward-thinking policies of our government. Organizations are looking at FDI inflows and need qualified professionals who can help them efficiently manage budgets, finances, and risk. Additionally, a more risk-ready middle and upper class are constantly looking for financial advisors who can help them grow their money better.
BBA Programs at Chitkara University
Chitkara University’s world-class BBA programs are designed by industry experts and India’s top financial advisors and follow a hands-on approach that helps you learn essential industry-relevant skills that cannot be taught in a classroom setting. This makes a BBA in Financial Services and Financial Planning an apt choice for those seeking to kickstart their career in finance.
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