1 Finance Blog

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

How much do employees make in an IPO? 1 Finance Magazine research shows it’s just 0.1%

Personal Finance

3 min read

How much do employees make in an IPO? 1 Finance Magazine research shows it’s just 0.1%

Can your 9-to-5 make you the next millionaire? Many believe it can, especially when equity is…

Gifts and Their Tax Implications

Tax Planning

4 min read

Gifts and Their Tax Implications

In India, exchanging gifts is a common way to express love and gratitude within our culture.…

Understanding the difference between short-term and long-term capital gains in India

Tax Planning

4 min read

Understanding the difference between short-term and long-term capital gains in India

Understanding short-term and long-term capital gains is crucial for complying with tax laws and filing your…

Applicability of Tax-Loss Harvesting Strategy in 2024

Tax Planning

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…

Understanding Fixed and Variable Income Investments: Where Does P2P Lending Fit?

Understanding Fixed and Variable Income Investments: Where Does P2P Lending Fit?

Investing involves understanding different types of income investments to balance your portfolio effectively. This blog will…

The Role of a Financial Advisor in Retirement Planning

Personal Finance

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…

Macroeconomics and Its Impact on Personal Finance | “Temperament” by 1 Finance

Temperament

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…

What is Gold ETF? How does Gold ETF Works?

Investing

4 min read

What is Gold ETF? How does Gold ETF Works?

Gold, one of the world’s oldest assets, continues to capture the imagination of investors in the…

What is Financial Personality?

Behavioural Finance

4 min read

What is Financial Personality?

When it comes to managing money, everyone approaches financial decisions differently. Whether you’re a meticulous planner,…

Planning to pause your SIP during a market crash? Think again!

Investing

3 min read

Planning to pause your SIP during a market crash? Think again!

While systematic investment plans (SIPs) continue to be one of the best ways to grow wealth…

Fund Manager vs. Wealth Manager vs. Financial Planner: Who They Are and Who You Really Need

Personal Finance

6 min read

Fund Manager vs. Wealth Manager vs. Financial Planner: Who They Are and Who You Really Need

India’s economy is growing fast. The average income is rising, but most people still don’t know…

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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.

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