1 Finance Blog
Discover financial wisdom on our blog for expert insights on personal finance, investing, and money management.
Is Market Risk All You Need to Consider While Investing?
“Mutual fund investments are subject to market risks, read all scheme-related documents carefully.” This all-too familiar…
Embracing Financial Minimalism: A Path to Serenity | Temperament by 1 Finance
Dive into the world of financial minimalism with the latest episode of “Temperament” by 1 Finance,…
Should Fixed Deposits Be a Part of Your Financial Plan?
Fixed deposits, or FDs, have been a mainstay of the Indian financial landscape for a very…
Can I Achieve Financial Freedom by 45?
Dear Qualified Financial Advisor, Like what you're reading? Get our latest, straight to your inbox. Subscribe…
What Do You Teach Your Child About Money?
During our childhood in Ranchi in the 1990s, my elder brother Pranay and I once spent…
Financial Learnings We’re Carrying into 2023
Ushering in a new year comes with its fair share of reflection on the past, and…
It’s OK to Want More Money
The way we think about money, and what we do with it, tends to be shaped…
The Allure of Fantasy Sports
In 2017, at the height of Premier Kabaddi League’s popularity, Joseph George created his kabaddi team…
How Can I Earn Passive Income?
Dear Qualified Financial Advisor, Like what you're reading? Get our latest, straight to your inbox. Subscribe…
How 1 View Solves the Problem of Scattered Finances
Our intention with building 1 Finance, from Day One, has been to solve glaring issues with…
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…
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…
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.
