1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
Back to Basics with a Money Jar
For a freelance travel writer, there’s never enough travel. Assignments and hosted trips are all well…
4 min read
Understanding Tax Credits: How to Use Form 26AS and Annual Information Statement (AIS) for Accurate ITR Filing
Form 26AS and Annual information statement (AIS) display a comprehensive view of the financial transactions made…
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
How to Look For a Home Loan: A Comprehensive Guide
Purchasing your dream home is an exciting milestone, but it often requires taking on a long-term…
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.…
5 min read
What is the Role of a Financial Advisor in Your Life?
“There is no such thing as a self-made man. You will reach your goals only with…
How Digital Transactions Are Changing the Way We Spend
Before getting off a rickshaw, or upon approaching a store counter, or while paying for dinner,…
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…
5 min read
How to Create a Balanced Investment Portfolio in India
Are you looking to create a balanced investment portfolio that gives you the best of both…
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…
3 min read
Demystifying Travel Insurance: Separating Fact from Fiction
Unravel the truth about travel insurance with us as we debunk common myths and misconceptions, helping…
4 min read
How to afford a house in India in 2024!
In my short career of being a financial planner for the last 12 years, I have…
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.
