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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…
3 min read
Here’s the Impact Buying a Home Has on Your Financial Health
Buying a home is the biggest and probably the costliest financial decision we make in our…
6 min read
Demystifying Taxable Income: A Beginner’s Guide for Indian Individuals
Unlock the basics of taxable income in India. This beginner's guide offers clarity on taxation essentials…
5 min read
Decoding Income Tax Rules for Non-Resident Indians (NRIs)
Your trusted guide for unraveling the complexities of Income Tax Rules for Non-Resident Indians (NRIs).
3 min read
Choosing the Best Platform for Personal Loans: A Comprehensive Guide
In today’s fast-paced world, accessing funds through personal loans has become easier than ever, thanks to…
5 min read
How 1 Finance Applies the ‘Three Generations of Wealth Creators’ Framework in Financial Planning
Financial planning is not a one-size-fits-all approach. Each individual has unique financial goals, challenges, and levels…
The Allure of Fantasy Sports
In 2017, at the height of Premier Kabaddi League’s popularity, Joseph George created his kabaddi team…
3 min read
What is NPS in Salary?
The National Pension System (NPS) is a voluntary retirement savings scheme introduced by the Government of…
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
The Tussle Between Traditional and Behavioural Finance: A Historical Perspective
Explore the riveting clash of ideologies as traditional finance meets the innovative insights of behavioral finance…
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…
What Do I Need to Know Before Taking On a Home Loan?
Dear Qualified Financial Advisor, Like what you're reading? Get our latest, straight to your inbox. Subscribe…
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.
