1 Finance Blog

Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.

Home Loan Balance Transfer: Factors To Be Considered

Liability Planning

3 min read

Home Loan Balance Transfer: Factors To Be Considered

A home loan balance transfer is when you move from one lender to the other with…

Unknown Clauses About Life Insurance Policies to Watch

Personal Finance

3 min read

Unknown Clauses About Life Insurance Policies to Watch

In India, life insurance has long been an emotional decision for families. It remains a push…

The Weight of Money On Your Mind: How Finances Affect Your Well-being

Personal Finance

4 min read

The Weight of Money On Your Mind: How Finances Affect Your Well-being

Money is known to be the great enabler that puts the life you desire within reach.…

How to Do Tax Harvesting for Mutual Fund Returns

Mutual Fund

4 min read

How to Do Tax Harvesting for Mutual Fund Returns

Tax harvesting is a strategy used by investors to minimize their tax liabilities by offsetting gains…

How to Compare Credit Cards

Credit cards

8 min read

How to Compare Credit Cards

Credit cards—often viewed as a great tool of convenience by some due to their ease of…

Hallmark of a Balanced Portfolio: How to Strike the Right Equilibrium

4 min read

Hallmark of a Balanced Portfolio: How to Strike the Right Equilibrium

Let’s today understand what we mean by a balanced portfolio and why we need to have…

Optimise Your Investments with the Mutual Fund Portfolio Overlap Tool

Personal Finance

3 min read

Optimise Your Investments with the Mutual Fund Portfolio Overlap Tool

Investing in mutual funds is a popular strategy for diversifying one’s portfolio and achieving financial goals.…

How to Calculate Credit Card Interest

Credit cards

7 min read

How to Calculate Credit Card Interest

Credit cards can be incredibly convenient for making purchases and managing expenses, but they come with…

Increasing Contribution Calculator: How Annual Investment Increases Affect Wealth Accumulation Over Time

Personal Finance

3 min read

Increasing Contribution Calculator: How Annual Investment Increases Affect Wealth Accumulation Over Time

When it comes to wealth accumulation, consistently increasing your investment contributions can have a significant impact.…

Mastering Tax Season: Essential Preparation for ITR Filing

Personal Finance

3 min read

Mastering Tax Season: Essential Preparation for ITR Filing

As the tax filing season approaches, it’s crucial to prepare for filing your Income Tax Return…

How to Get Rid of Credit Card Debt

Credit cards

4 min read

How to Get Rid of Credit Card Debt

Credit card debt in India has been on the rise, leading to significant concerns. As of…

Pre-existing Conditions and Health Insurance: What You Need to Know

Insurance

5 min read

Pre-existing Conditions and Health Insurance: What You Need to Know

In the complex world of health insurance, understanding the nuances of policies can be daunting, especially…

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Frequently Asked Questions

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What is financial planning?

Financial planning is the process of evaluating your current finances and making a plan to map your journey to financial well-being.

It involves looking at all aspects of your financial life - income, savings, debt, investments, etc.

The aim is to understand where you stand today financially and then chart a course to get you where you want to be in the long run.

Financial planning provides direction and structure to your finances. It helps you intentionally move toward financial wellness.

The plan equips you to prepare for expected life events like retirement as well as unexpected events.

In short, financial planning bridges your present circumstances to your desired financial future. It gives you a path to follow.

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What are the benefits of working with a financial advisor?

Working with a financial advisor can provide an invaluable perspective on your current situation. With the help of a financial advisor, you can assess your finances holistically - debts, assets, income streams, and more. With this comprehensive understanding, the advisor helps craft strategies tailored to your needs.

A financial plan crafted by a qualified advisor grants you agency over your financial life. It transforms vague anxiety about the future into proactive preparation. With expert guidance, you can map out actionable steps to strengthen your finances over time.

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Why is financial planning important?

Financial planning is important because it provides clarity and control over your finances.

Having a financial plan helps you:

  • Understand where you stand financially today
  • Map out specific steps to improve your financial situation
  • Prepare for major life events like marriage, child’s education, retirement etc.
  • Budget effectively and evaluate your investment portfolio
  • Strategic Tax Planning & Filing
  • Manage and reduce debt
  • Being financially ready for emergencies
  • Creating a will to preserve your legacy

In short, financial planning is essential for financial stability and peace of mind. It gives your finances direction and purpose. With proper planning, you can take charge of your money and build financial security.