1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
- All
- New
- Mutual Fund
- Investing
- Loan Planning
- Retirement Planning
- Insurance
- Crypto
- Tax Planning
- Credit cards blogs
- Personal Finance
- Estate Planning
- Learn
- Behavioural Finance
- Temperament
- Peer to Peer lending (P2P)
- Scoring and Ranking
- Ask a QFA
- 1 Finance Core
- Personal Essays
- 1 Finance Editorials
- Real estate
- NPS
- ITR Filing
2 min read
A Cheeky Look into Everyone’s Festive Spending
Buy a box of 24 carat gold-leaf mithai. The guilt won’t be about the calories. Like…
6 min read
8 Financial Decisions That Were Turning Points
Our financial choices are inextricably linked to the life experiences we have and our behavioural traits,…
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.…
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…
3 min read
REITs & InvIts: SEBI Proposes Higher Mutual Fund Investment Limits in REITs & InvITs, What It Means for You
The Securities and Exchange Board of India (SEBI) has proposed a major policy shift aimed at…
5 min read
Key Steps to Take 5 Years Before Retirement
Planning for retirement is a long-term process, and the five years leading up to it are…
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…
3 min read
Retirement Funds or Equity Funds: What’s better?
Planning for a secure and comfortable retirement is a crucial financial goal for most people. With…
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…
5 min read
Home Loan Rate Drop: How Much Can You Save on Your Home Loan Interest Now?
If you’re repaying a home loan, there’s good news. The Reserve Bank of India (RBI) has…
4 min read
Maximizing Savings with HRA: Indian Taxation
Discover how HRA in India affects your taxes and learn effective strategies to optimize savings.
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.
