1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
3 min read
How to Choose a Health Insurance Plan in India
Purchasing health insurance is a critical financial decision that can shield you from economic hardship in…
3 min read
World’s longest coffee break: Retirement
Retirement—a word that often conjures images of winding down, but in reality, it marks the beginning…
3 min read
Revolutionising Insurance with AI: Insights from Industry Leaders | Temperament by 1 Finance
The integration of Artificial Intelligence (AI) into the insurance sector marks a pivotal shift, promising to…
4 min read
Decoding Property Taxes: Expert Strategies for Indian Real Estate | Temperament by 1 Finance
Navigating the complex landscape of real estate taxation is more than just a necessity—it’s an art.…
4 min read
How to diversify your portfolio in today’s highly volatile market?
Diversification is the practice of spreading your investments around so that your exposure to any one…
4 min read
How to afford a house in India in 2024!
In my short career of being a financial planner for the last 12 years, I have…
3 min read
Decoding a Will for a retail customer with the right questions
The discussion of “making a will” brings images of heavy paperwork, legal jargon, lawyers, hefty fees,…
7 min read
How to Save for a House: Mastering the Art of Saving
So, you’re all set to embark on the exciting journey of buying your dream home, huh?…
3 min read
The Role of Financial Professional Coach in Your Retirement
While navigating the intricacies of retirement planning, it’s essential to recognize the value of seeking expert…
4 min read
Navigating the Future: Comprehensive Retirement Planning for Indian Parents | Temperament by 1 Finance
India is on the brink of a profound demographic shift, transitioning towards an ageing society with…
4 min read
Macroeconomics and Its Impact on Personal Finance | “Temperament” by 1 Finance
In the ever-evolving economic landscape, understanding the intersection of macroeconomics and personal finance is crucial. The…
10 min read
Demystifying ESOP Taxation in India: A Comprehensive Guide
Dive into our comprehensive guide to unravel the intricacies of ESOP taxation in India and make…
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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.
