1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
How Would Having a Child Impact My Finances?
Dear Qualified Financial Advisor, Like what you're reading? Get our latest, straight to your inbox. Subscribe…
3 min read
Boosting Your Credit Score with Timely Credit Card Repayment
This blog examines the link between disciplined credit card usage and improving credit scores, offering practical…
4 min read
Why HRs Must Address Employee Financial Wellbeing Now
The burden of financial stress weighs heavily on many employees, impacting their financial wellbeing. This persistent…
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…
4 min read
Understanding Hybrid Mutual Funds: Exploring Types and Benefits
Explore the versatility of Hybrid Mutual Funds, from their diverse categories to the benefits they bring…
5 min read
Tax Season : Aligning Insurance Choices with Holistic Financial Wellbeing
As we approach tax season, it is imperative to consider the critical link between tax planning,…
5 min read
Maximizing Tax Benefits on Medical Expenditures: Understanding Sections 80D, 80DD, and 80DDB
Introduction As individuals, we are all too familiar with the ever-increasing costs of medical expenses. Whether…
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…
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…
5 min read
Income Tax and Rental Income: A Comprehensive Guide for Property Owners
Discover how income tax applies to rental income in our comprehensive guide for property owners, clarifying…
5 min read
Everything You Need to Know About Travel Insurance
As the holiday season approaches, millions of people are gearing up for memorable trips, whether it’s…
How the Hindsight Bias Clouds Your Financial Decisions
The choices we make on an everyday basis are influenced by several things — they reflect our…
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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.
