1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
3 min read
Mitigating Liability Risks: Protecting Your Home from Potential Hazards
This post explores liability risks associated with homeownership, offering strategies and real-life examples to help safeguard…
5 min read
Portability in Health Insurance: Empowering Policyholders with Choice and Flexibility
Imagine you’re at a bustling train station, about to board a train to your next big…
8 min read
How Does Tax Filing Works
This article provides essential tips for timely and accurate income tax return filing to avoid notices,…
3 min read
How to Apply for NPS
The National Pension System (NPS) is a government-backed retirement savings scheme designed to provide financial security…
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…
4 min read
Liquid Funds Offer Better Returns than Bank Savings Accounts: Know All About Liquid Funds
When it comes to mutual fund investments, we often think that equity-oriented funds are our only…
One on One with a Font Engineer
Kalapi Gajjar-Bordawekar has been working with fonts for about a decade. He is a typeface designer…
3 min read
Difference Between Belated ITR and Revised ITR
Introduction While most people around you might have successfully filed their Income Tax Returns for the…
5 min read
NPS Investment for Additional Tax Deduction: Is it a Beneficial Choice?
This article assesses the pros and cons of investing in NPS for tax deductions, aiding informed…
5 min read
How 1 Finance Applies the ‘Three Generations of Wealth Creators’ Framework in Financial Planning
Financial planning is not a one-size-fits-all approach. Each individual has unique financial goals, challenges, and levels…
5 min read
Who should file an income tax return?
Tax season often creates a panicking situation amongst individuals to file income tax return. On the…
4 min read
Empowering Women in Finance: Beyond Stereotypes to Strength | Temperament by 1 Finance
In a world where financial empowerment is associated with independence, the journey to close the gender…
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.
