1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
2 min read
Credit Cards: A Journey of Rewards and Risks
This blog post explores the benefits and potential pitfalls of credit cards, emphasizing the significance of…
3 min read
Estate Planning and Wealth Transfer Strategies in Modern India
Modern India has evolved a lot. The marked shift in the structure of our demographic, be…
5 min read
Pre-existing Conditions and Health Insurance: What You Need to Know
In the complex world of health insurance, understanding the nuances of policies can be daunting, especially…
4 min read
Is Agricultural Income Fully Exempt from Income Tax?
Agricultural income is commonly viewed as entirely tax-free, but few complications are involved in its tax…
The Values Behind Our Brand Identity
We know that a lot goes into building a brand — after all, it’s not just…
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…
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
Family, Finance, and the Future: Your Roadmap to Inheritance Planning
Navigate the intricate intersection of family dynamics, financial legacy, and future planning with our expert guidance.
4 min read
Maximizing Savings with HRA: Indian Taxation
Discover how HRA in India affects your taxes and learn effective strategies to optimize savings.
Why Is It Hard to Talk About Money?
It’s a story as old as time. A bunch of friends go out for a meal.…
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…
3 min read
Transparency and Accountability in Peer-to-Peer Lending: The Role of NBFC-P2Ps
Peer-to-Peer (P2P) lending has emerged as a popular alternative to traditional banking, offering individuals and businesses…
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.
