1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
4 min read
5 Essential Steps to Make a Will and Secure Your Legacy
Many view estate planning as a task for the elderly or wealthy, but creating a will…
5 min read
How Can You Be Financially Ready for the Arrival of a Child?
The arrival of a child is one of the most significant milestones in life, bringing immense…
3 min read
Securing Your Future: The Role of a Financial Advisor in Retirement Planning
Uncover the crucial role financial advisors play in securing your future through effective retirement planning.
10 min read
Fixed Deposits vs. Debt Mutual Funds: The Legacy of Top Investments in India
Priya, a 28-year-old IT professional based in Bangalore has recently received a bonus of Rs. 5…
4 min read
Navigating Surrender Value in Life Insurance
When navigating the complex terrain of life insurance, understanding the concept of surrender value is essential.…
7 min read
How to Save for a House: Mastering the Art of Saving
So, you’re all set to embark on the exciting journey of buying your dream home, huh?…
4 min read
How to Plan Your Income and Expenses After Marriage?
As you and your spouse bring your lives together, your finances will play a key role…
4 min read
Macroeconomics and Its Impact on Personal Finance | “Temperament” by 1 Finance
In the ever-evolving economic landscape, understanding the intersection of macroeconomics and personal finance is crucial. The…
3 min read
Does NPS Come Under 80C Deductions? What are Tax Application on NPS
One of the key benefits of investing in the National Pension System (NPS) is its tax-saving…
6 min read
Deduction and Exemptions from Income Tax
Tax planning is essential for effectively managing your finances. Income tax laws offer several deductions and…
5 min read
Why Should You Only Work with a SEBI Registered Investment Advisor?
When it comes to making financial decisions, selecting the right professional to guide you is crucial.…
3 min read
The Role of a Financial Advisor in Retirement Planning
By the textbook definition, ‘retirement’ is a stage in life when a person decides to quit…
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Frequently Asked Questions
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.
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.
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.
