1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
5 min read
Things to Consider Before Filing Revised Income Tax Return
Introduction With all the hubbub around filing income tax returns before the 31st of July, 2024,…
The Treasures We Hold Close
How do you ascribe value to an object? Is it how much money it cost? Or…
It Gets Worse Before It Gets Better
It was a grim evening. I was reading and re-reading a piece of text that I…
3 min read
Increasing Contribution Calculator: How Annual Investment Increases Affect Wealth Accumulation Over Time
When it comes to wealth accumulation, consistently increasing your investment contributions can have a significant impact.…
3 min read
Harnessing Financial Security with Joint Life Term Insurance in India
Introduction In the pursuit of financial well-being, individuals often seek comprehensive solutions to safeguard their loved…
8 min read
How Does Tax Filing Works
This article provides essential tips for timely and accurate income tax return filing to avoid notices,…
3 min read
The Importance of Liability Insurance for Personal Finance
This post discusses the importance of liability insurance in personal finance, highlighting its role in shielding…
5 min read
Understanding Tax benefits of owning 2nd home
Homeownership is always a matter of pride, specifically in the Indian context where family traditions have…
4 min read
Safeguarding Your Wealth for Future Generations: The Significance of Estate Planning and Liability
This post emphasizes the role of estate planning and liability in wealth management and securing a…
5 min read
Unlocking the Secrets of Fundamental Analysis: A Guide to Smart Investing | “Temperament” by 1 Finance
An ability to do sophisticated and well-informed decisions in the ever changing world of stock investing…
4 min read
Safeguarding your future: Decoding Term Insurance Vs Personal Accident Insurance
Introduction Life’s unpredictability often brings unexpected emergencies. While we can’t control these events, having the safety…
The Dos and Don’ts of Sharing Your Financial Data
We tend to be discreet about our financial information, and understandably so. No one wants to…
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.
