1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
2 min read
What is NPS Balanced Life Cycle Fund?
The National Pension System (NPS) offers multiple investment options for retirement planning, including auto-choice investment strategies.…
3 min read
Transparency and Accountability in Peer-to-Peer Lending: The Role of NBFC-P2Ps
Peer-to-Peer (P2P) lending has emerged as a popular alternative to traditional banking, offering individuals and businesses…
5 min read
Important Terminologies Related to Income from House Property: Here’s What You Need to Know
Owning your dream house is not about just a place to call home but it also…
4 min read
5 Reasons Why NPS Should Be Your Go-To Option for Retirement Planning
Are you looking for an investment that allows you to grow your hard-earned money with market-linked…
3 min read
Fund Transfer Mechanisms in P2P Lending Platforms
Central to the functioning of P2P lending platforms is the seamless transfer of funds between lenders…
4 min read
The Psychology of Wealth: Navigating Financial Success with Mindset Mastery | Temperament by 1 Finance
In a world increasingly focused on material wealth, understanding the psychological aspects of money is key…
4 min read
“Benefits of Financial Well-Being for Businesses & Employees: A Guide”
Unlock the advantages of prioritizing financial well-being for both businesses and employees with this comprehensive guide.
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…
3 min read
Estate Planning and Wealth Transfer Strategies in Modern India
Modern India has evolved a lot. The marked shift in the structure of our demographic, be…
3 min read
How to Be Debt Free Without Compromising Retirement
In today’s fast-paced world, especially in India, people of all ages, particularly young adults, are turning…
4 min read
Navigating the Claims Process: Tips for a Smooth Experience with Health Insurance in India
Navigating the claims process can be a daunting task for many individuals when it comes to…
7 min read
Understanding Cancer Insurance: A Shield Against Uncertainty
In today’s world, health concerns are ever-present, with cancer being one of the most dreaded diagnoses.…
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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.
