1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
4 min read
The Benefits of Financial Well-Being for Businesses and Employees in India: A Comprehensive Guide
Explore the mutual benefits of financial well-being for businesses and employees in India, from increased productivity…
3 min read
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…
6 min read
How to File Income Tax Returns for Previous Years?
Introduction Did you miss filing your ITR last year or the year before? If the answer…
3 min read
10 Best Tax-Friendly Habits to Adopt for a Sound Financial Future
Navigate India's complex financial landscape with our ten tax-friendly habits, setting the stage for wealth preservation,…
3 min read
How to Gradually Minimise Your Principal Amount
When taking out a loan, the principal and interest components are crucial factors to consider. Lenders…
5 min read
Income Tax and Rental Income: A Comprehensive Guide for Property Owners
Discover how income tax applies to rental income in our comprehensive guide for property owners, clarifying…
5 min read
Benefit of opting for the Old Tax Regime
When it comes to personal tax planning, taxpayers are often in a dilemma to decide whether…
4 min read
Navigating the Stock Market: Insights and Strategies for Meaningful Investing | Temperament by 1 Finance
In the intricate world of the stock market, where emotions and strategy collide, lies a realm…
4 min read
7 Key Factors That Affect Your Term Insurance Premium
Term insurance is a vital component of a sound financial plan. It provides financial security to…
5 Mistakes to Avoid While Choosing Your Life Insurance Policy
Like most other financial products in India, life insurance is aggressively sold by agents who might…
4 min read
5 Signs It’s Time to Refinance Your Loan
Financial responsibilities come in many forms, and loans are a common part of life for many…
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Demystifying Life Insurance in India: Exploring Different Policy Options
Secure your family's future with our essential guide to understanding life insurance policies in India, aiding…
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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.
