1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
If I’m Doing Well, Do I Still Need to Grow My Wealth?
Dear Qualified Financial Advisor, Like what you're reading? Get our latest, straight to your inbox. Subscribe…
Why Are We Afraid to Plan for Bad Endings?
In Bhutan, thinking about death is as much of a daily ritual as eating or praying.…
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…
Back to Basics with a Money Jar
For a freelance travel writer, there’s never enough travel. Assignments and hosted trips are all well…
How Do I Set Up an Emergency Fund?
Dear Qualified Financial Advisor, Like what you're reading? Get our latest, straight to your inbox. Subscribe…
7 Ways to Achieve Financial Freedom
If I had a dime for every bad financial decision I made during my initial years…
How Our Commission Analyser Helps Review Your Mutual Funds
In India, financial products aren’t always sold to you in your best interests. Mis-selling is rampant,…
The Back of Your Bank Notes
When you think of an Indian currency note, what image comes to mind? Possibly a portrait…
What to Look for in a Financial Advisor
The relationship between a financial advisor and a client is not a one and done process,…
What Do You Teach Your Child About Money?
During our childhood in Ranchi in the 1990s, my elder brother Pranay and I once spent…
How Digital Transactions Are Changing the Way We Spend
Before getting off a rickshaw, or upon approaching a store counter, or while paying for dinner,…
Why We’ve Set Up a Committee for Qualified Financial Advisors
As a financial institution, we think of 1 Finance as a place that takes care of…
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.
