1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
5 min read
How to Secure Your Family’s Future with Succession Planning?
Secure your family's legacy and peace of mind through effective succession planning.
How Does Getting Married Affect My Finances?
Dear Qualified Financial Advisor, Like what you're reading? Get our latest, straight to your inbox. Subscribe…
4 min read
How to Claim Deductions While Filing Your Taxes?
This blog post focuses on four key sections of the Indian Income Tax Act—80C, 80CCC, 80CCD,…
4 min read
What’s the Difference Between TDS and TCS? Explained Simply!
This blog post explores the differences between Tax Deduction at Source (TDS) and Tax Collected at…
5 min read
Tax Filing: Understanding Key Terminologies
Filing your Income Tax Return (ITR) in India can feel confusing at first. There are a…
6 min read
The Role of Emotional and Cognitive Shortcuts in Financial Decision-Making
Discover how emotional and cognitive shortcuts impact your financial decisions, and learn to navigate them for…
3 min read
Home Loan Balance Transfer: Factors To Be Considered
A home loan balance transfer is when you move from one lender to the other with…
3 min read
How to Get Out of Debt Trap by Managing Your Finances Well
In today’s fast-paced world, it’s easy to fall into the trap of accumulating debt beyond our…
The True Story That Inspired Our Ad Film
If you’ve watched the 1 Finance ad film or found us through it — welcome on…
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…
3 min read
5 Tailwinds for a Smooth Retirement Journey in India
“Don’t retire from something, retire to something” Retirement is a major transition in your life that…
4 min read
How you can Minimise Tax Impact When Selling Property in 2024
Selling property can be a rewarding experience, but the taxes involved can quickly dampen your enthusiasm.…
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.
