1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
6 min read
The Role of Emotional and Cognitive Shortcuts in Financial Decision-Making
Discover how emotional and cognitive shortcuts impact your financial decisions, and learn to navigate them for…
3 min read
The Golden Touch: Decoding Gold Investments in Modern India | Temperament by 1 Finance
In the Indian psyche, gold is more than a precious metal; it’s a symbol of prosperity…
4 min read
Gifts and Their Tax Implications
In India, exchanging gifts is a common way to express love and gratitude within our culture.…
3 min read
Understanding the Different Types of NPS: Simplifying Your Retirement Planning
The National Pension System (NPS) is one of the most popular retirement savings options in India.…
6 min read
What is a Will in India?
A will is a legal document that allows an individual, known as the testator, to dictate…
4 min read
Exploring the Commercial Real Estate Terrain in India | “Temperament” by 1 Finance
In today’s dynamic world, commercial real estate investment in India stands as a booming sector, growing…
4 min read
Factors to Consider Before Making a Loan Prepayment
Tired of long nights spent tossing and turning, kept awake by thoughts of towering debt or…
3 min read
Product over people : How you are missold a financial product
Picture this: you step into a financial institution, most likely a bank, seeking an insurance plan…
Should Fixed Deposits Be a Part of Your Financial Plan?
Fixed deposits, or FDs, have been a mainstay of the Indian financial landscape for a very…
3 min read
Decoding a Will for a retail customer with the right questions
The discussion of “making a will” brings images of heavy paperwork, legal jargon, lawyers, hefty fees,…
6 min read
Demystifying Taxable Income: A Beginner’s Guide for Indian Individuals
Unlock the basics of taxable income in India. This beginner's guide offers clarity on taxation essentials…
4 min read
Leveraging Derivatives for Personal Wealth Management – Pros and Cons
Leverage allows traders to amplify their exposure to an underlying asset without needing to commit the…
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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.
