1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
How the Hindsight Bias Clouds Your Financial Decisions
The choices we make on an everyday basis are influenced by several things — they reflect our…
Should You Be Investing in Gold?
In India, gold has been a traditional form of investment for generations, and often holds sentimental…
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…
4 min read
How to File a Life Insurance Claim
In an unpredictable world, a life insurance policy stands as a vital safeguard to protect our…
3 min read
How to File Income Tax Return Online?
Introduction Whether you’re a salaried individual or a self-employed businessperson, the Indian Income Tax Act, 1961,…
4 min read
Term Insurance against Home Loan
Are you contemplating the best way to secure your home and ensure your family’s financial stability?…
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.…
Who Do You Trust to Give You Financial Advice?
It appears that everyone is talking about personal finance — watching ads during a cricket game…
4 min read
Navigating Income Tax & Taxation on Gifts Received in India
Understand taxable income basics and the taxation on gifts received. Navigate with confidence, ensuring compliance and…
3 min read
Mastering Tax Season: Essential Preparation for ITR Filing
As the tax filing season approaches, it’s crucial to prepare for filing your Income Tax Return…
7 min read
When the Sky Falls: What to Do Amidst Financial Turbulence
In case you have watched the TVF record-making series ‘Sapne vs Everyone,’ you must remember episode…
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.
