1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
5 min read
Do you really need the personal services of a legal professional to make a will?
Dive into the complexities of will creation in India, weighing the pros and cons of DIY…
2 min read
Credit Cards: A Journey of Rewards and Risks
This blog post explores the benefits and potential pitfalls of credit cards, emphasizing the significance of…
Why 1 Finance Is More Than Just a Fintech Company
At the outset, as you begin your journey with us, we want to share our biggest…
4 min read
Why Will Drafting is the Most Important Piece in Your Financial Planning Jigsaw!
Discover the importance of drafting a will as a pivotal aspect of financial planning, ensuring that…
7 min read
Considering NPS Vatsalya for Your Child’s Future? Explore the Pros and Cons Before Investing
Considering NPS Vatsalya for your child's financial future? This pension tool helps build long-term wealth and…
4 min read
The Emotional Essence of Home: To Own or To Rent? | Temperament by 1 Finance
Imagine a world where every major decision is not just a calculation but a journey through…
2 min read
Safeguarding Investments: What Happens When a P2P Lending Platform Shuts Down in India?
In recent years, Peer-to-Peer (P2P) lending platforms have gained significant traction in India as a popular…
4 min read
Locate Network Hospitals for Your Health Insurance in India
Imagine you’re at work on a typical Monday afternoon. Suddenly, a sharp pain hits your chest.…
3 min read
All about NPS Vatsalya
NPS Vatsalya is a newer initiative within India’s National Pension System (NPS) designed specifically to help…
3 min read
Mastering Personal Loans: Your Ultimate Guide to Financial Flexibility and Smart Borrowing | Temperament by 1 Finance
In an era where financial flexibility is more important than ever, personal loans emerge as the…
4 min read
The Importance of Will Drafting: A Crucial Step Towards Financial Prudence
Understand the significance of will drafting as an essential measure towards achieving financial prudence.
3 min read
What is Crypto Scoring and Ranking?
Navigating the dynamic world of cryptocurrencies, especially within the decentralised finance (DeFi) sector, can be challenging…
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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.
