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NOT NULL CONSTRAINT -    Ensures that a column cannot have a null value. DEFAULT CONSTRAINT -    Provides a default value for a column when none is specified  UNIQUE CONSTRAINT -   Ensures that all values in columns are different  CHECK CONSTRAINT -   Makes sure that all values in a column satisfy certain criteria  PRIMARY KEY CONSTRAINT -   Used to uniquely identify a row in the table  FOREIGN KEY CONSTRAINT -   Used to ensure referential integrity of the data  Primary Key - is used uniquely to identify each row in a table . It can consist of one or more columns on a table . When Multiple columns are used on a table it is called composite key.  Foreign Key - Foreign key is a column or columns that references a column most often primary key of another table . The purpose of foreign key is to maintain referential integrity of the data. Pg admin  Data base - training - right click on training - query click  Always add semi colen to run the query  Int - integer  varchar - variable charact
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Personal Financial Planning

 Need for Personal Financial Planning -

1. Seeing future with a clear vision - Goal should be known as it is important to understand where you have to reach .

2. Financial Discipline - Every month saving so that putting in better lternate options. 

3. Giving Direction - Goals should be measurable. 

4. Decision making - What should be the capital structure 

5. Risk Tolerance - Asking clients risk tolerance and accordingly do asset allocation.

6. Tax reduction - Reducing tax in such a way that it reduces tax liability. 

7. Safeguard family - Through insurance 

8. Continuous - Not a one time planning should be monitored and reviewed.

9. Peace of mind - Future is secure .

Misconceptions- 

1. One time exercise 

2. Only about tax planning 

3. Done when one reaches retirement age 

4. Meant only for HNWI 

5. Only about investments , but its all about co components 

6.  Not Need advice 

7. Financial Planning advice is too costly

Financial Planning Process -  VIMP

1. Setting Financial goals - Follow SMART Principlals

2. Developing a financial Plan - Once done with goal setting , develop a plan according to the goal. Adjust for inflation and interest rates and therefore continuous process

3. Implementation of the plan -  Investment targeted , creating portfolio.

4. Monitoring of the plan - Match goal with the investments accordingly take corrective action

5. If need be , take corrective action 

6. Redefine and Revise Plan

SMART 

SPECIFIC 

MEASURABLE 

ACHIEVABLE 

REALISTIC

TIME BOUND 

3 Types Goal 

1. Short Term

2. Medium Term 

3. Long Term 

 Macro Economic Factors - 

1. Government - Tax rates , New financial inclusion . 

2. Monitory and Fiscal Policy. Monitory policy(repo rate)  is bought by Central Bank , Fiscal policy is by Government which is taxation .

3. Business Cycle - There are certain stages in business cycle (boom , recession, depression , recovery) ,  whatever the stage is you should act accordingly.

4. Inflation - When the price increases purchasing power decreases , expenses increases. 


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