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3 min read
All about NPS Vatsalya
NPS Vatsalya is a newer initiative within India’s National Pension System (NPS) designed specifically to help…
5 min read
Best Home Loan Lenders in India 2025
In India, buying a home is a dream for all, but it often requires a significant…
4 min read
Effective Budgeting Strategies for Young Professionals
For most young adults, their early-mid twenties are a transitional period. This is usually when you’ve…
3 min read
Exploring DeFi: Decentralized Finance
Exploring DeFi, the Financial Landscape with Decentralized Finance and Cryptocurrencies with its features and data.
3 min read
ELSS vs. PPF: Which One Should You Choose for Your Portfolio?
When it comes to tax-saving investments, two options stand out—Equity Linked Savings Scheme (ELSS) and Public…
3 min read
How to Apply for Health Insurance Under PM-JAY Scheme
As healthcare costs rise, ensuring senior citizens have access to affordable and quality healthcare is critical.…
3 min read
Managing Economic Cycles: A Comprehensive Guide Through Ups and Downs | Temperament by 1 Finance
Economic cycles, with their inevitable rises and falls, shape the financial landscape we navigate daily. Understanding…
4 min read
Home loan interest rate cut: Reduce EMI or home loan tenure, which option will save you more?
Since the recent repo rate cut of 50 basis points by the RBI, several banks have…
3 min read
Emergency Funds: Why You Need One and How to Build It
Discover the value of an emergency fund as your personal financial buffer, empowering you to handle…
4 min read
Maximizing Savings with HRA: Indian Taxation
Discover how HRA in India affects your taxes and learn effective strategies to optimize savings.
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…
6 min read
Why Should You Invest in Gold: Gold Prices, History and future
There’s one metal that is historic, timeless and valuable. Yet not rare like diamond, or cheap…
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.
