1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
5 min read
Building Blocks to Financial Well-being
Discover the essentials of financial well-being and gain practical insights to navigate personal finance in India…
5 min read
Importance of Liability Planning for Salaried Individuals
If you're a salaried individual, it's crucial to understand the importance of liability planning.
8 min read
Liability Planning: A Comprehensive Guide
Looking to protect your assets and minimize your financial risks?
3 min read
Protecting Consumer Rights in P2P Lending: A Guide to Filing Complaints in India
Peer-to-peer (P2P) lending has emerged as a popular alternative to traditional banking in India, offering borrowers…
3 min read
Mastering Personal Loans: Your Ultimate Guide to Financial Flexibility and Smart Borrowing | Temperament by 1 Finance
In an era where financial flexibility is more important than ever, personal loans emerge as the…
4 min read
The Emotional Essence of Home: To Own or To Rent? | Temperament by 1 Finance
Imagine a world where every major decision is not just a calculation but a journey through…
A Cheeky Look into Everyone’s Festive Spending
Buy a box of 24 carat gold-leaf mithai. The guilt won’t be about the calories. Like…
3 min read
What is Lifestyle Inflation?
Ramesh Rao, a 60-year-old retired IT professional, lives in Bengaluru with his wife, Meera. Their children,…
4 min read
Tax Benefits for Senior Citizens: A Comprehensive Guide
Navigating complex income tax rules can be challenging, especially for individuals in the later stages of…
5 min read
Applicability of Tax-Loss Harvesting Strategy in 2024
Rohit had a diverse investment portfolio in 2023. By December, he realised he had the following…
3 min read
Understanding Sector Funds: A Deep Dive into Niche Mutual Fund Investments
Explore the potential of sector funds as we demystify this overlooked, yet potent, category of mutual…
3 min read
How to Maximise Tax Benefits With Rental Income
Ever wondered if investing in rental properties could be a wise financial decision? While the potential…
Discover your MoneySign®
Identify the personality traits and behavioural patterns that shape your financial choices.
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.
